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When assigning a lease agreement, it’s important to distinguish between an assignment and a sublease. An assignment transfers the entire leasehold estate from the tenant to the assignee, while a sublease transfers only a portion to a subtenant. Tenants should seek landlord consent before assigning their lease if not explicitly stated in the contract. Consent may be required in many cases for the assignment to occur. In an assignment, the tenant conveys both privity of estate and privity of contract, making the assignee the new occupant responsible for all contractual obligations with the landlord. Consequently, the assignee holds all rights of the original tenant and assumes their responsibilities under the lease.
