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When assigning a lease agreement, it's 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 transfers only part of the estate to a subtenant. Tenants should seek the landlord's consent before proceeding with an assignment unless explicitly stated otherwise in the contract. Consent is often required for the assignment to be valid. In an assignment, the tenant relinquishes both privity of estate and privity of contract, making the assignee the new occupant with full rights and obligations under the original contract with the landlord.
