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When assigning a lease agreement, it is crucial to recognize that an assignment differs from a sublease. An assignment transfers the entire leasehold estate from the tenant to the assignee, whereas a sublease transfers only a portion to the subtenant. Tenants should always seek the landlord's consent before assigning their interest if not explicitly stated in the contract. Consent may be necessary for the assignment to proceed. 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 lease with the landlord. Consequently, the assignee inherits all the rights and responsibilities from the previous tenant's contract.
