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When assigning a lease agreement, it is crucial to differentiate between an assignment and a sublease. An assignment transfers the entire leasehold estate from the tenant to the assignee, while a sublease only transfers a portion to the subtenant. Tenants should seek the landlord's consent before assigning their interest if not explicitly stated in the contract. Consent may be necessary for the assignment process. The tenant transfers both privities of estate and contract, making the assignee the new occupant with all previous rights, while also assuming the obligations tied to the contract with the landlord. This ensures the contractual relationship between the landlord and the assignee is maintained.
