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SARA BRONIN: Hi. Welcome to Property Law 101. Im Sara Bronin, and I created this series to help you understand the basics of property law. This series asks four fundamental questions about property and property law. And today, were talking about the fourth one, which is holding interest in property, and specifically a particular aspect of leaseholds. So that particular aspect is how a tenant transfers his or her or their leasehold interest to another party. The general default rule is that a landlord may sell the premises, and the tenant may transfer her interest with very few limitations. The reality is, however, that the default rule is often altered by contract. Landlords will often require that tenants agree to limit their ability to sublease or assign their interest in the property. To understand why landlords would want to limit tenants rights to transfer, its important to understand what both of these are. So first, a sublease. A sublease is a lease of an interest smaller t
