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When assigning a lease agreement, it is crucial to distinguish between an assignment and a sublease. An assignment transfers the entire leasehold estate from the tenant to the assignee, whereas a sublease only transfers a portion of the estate to a subtenant. Tenants should seek the landlord's consent before assigning their interest, especially if not explicitly stated in the contract. Consent may be needed in many cases for the assignment to proceed. In an assignment, the tenant transfers both privities of estate and contract, making the assignee the new occupant who assumes all obligations of the original lease. Thus, the assignee inherits all the rights and responsibilities of the previous tenant under the lease agreement with the landlord.