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When assigning a lease agreement, it's 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 of the estate to a subtenant. Tenants should seek the landlord's consent before assigning their interest unless the contract explicitly states otherwise. Even if consent is granted, it is often required for the assignment to proceed. In an assignment, both privity of estate and privity of contract are transferred, making the assignee the new occupant and responsible for the obligations of the contract with the landlord, inheriting all rights from the previous tenant.