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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 covers a portion of the estate. Tenants must seek the landlord's consent before assigning their interest unless otherwise stated in the contract. If consent is required, it must typically be obtained for the assignment to be valid. In an assignment, the tenant transfers both privity of estate and privity of contract, making the assignee the new occupant responsible for all obligations under the lease. This means the assignee inherits all rights held by the previous tenant while also assuming the contractual obligations with the landlord.