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When assigning a lease agreement, it's important to differentiate 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 consent from the landlord before assigning their interest unless it's explicitly stated in the contract. Consent may be mandatory for assignments. In an assignment, the tenant transfers both privity of estate and privity of contract, meaning the assignee becomes the new occupant and assumes all obligations of the contract between the landlord and the original tenant, thus inheriting the rights and responsibilities under the lease.
