Atlanta is sending Brooklyn a 2020 second-round pick via Portland and the rights to Isaia Cordinier, league sources said. Cordinier is a 2016 second-round pick who has remained overseas.
The Nets will send the Hawks a 2025 second-round pick and the right to swap second-round picks in 2023, league sources said.
For now, Lin will join No. 5 overall pick Trae Young and Dennis Schroder in the Hawks' backcourt. However, the deal for Lin probably will expedite a Schroder trade this summer, league sources said.
The Hawks will absorb Lin's $12.5 million expiring contract into their salary-cap space. Lin, 29, suffered a season-ending ruptured patellar tendon on opening night last year. He averaged 14.5 points and 5.1 assists per game in 2016-17 for the Nets.
Nets minority owner Joseph Tsai tweeted his appreciation for Lin early Friday morning.
D'Angelo Russell and Spencer Dinwiddie will be the Nets' primary point guards this season.
Williams: Lin provides backup for Hawks
Jay Williams hears rumors that Dennis Schroder wants out of Atlanta, so Jeremy Lin provides backcourt depth.