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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 also be required in most cases for the assignment to occur. In an assignment, the tenant transfers both privity of estate and privity of contract, making the assignee the new occupant and responsible for all obligations in the contract with the landlord. Consequently, the assignee enjoys all the rights of the previous tenant while assuming their contractual responsibilities.