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When assigning a lease agreement, it is essential to differentiate between an assignment and a sublease. An assignment transfers the entire leasehold estate from the tenant to the assignee, while a sublease transfers only a portion of the estate to the subtenant. Tenants should always seek consent from the landlord before attempting an assignment, especially if this requirement is not clearly stated in the contract. Consent is often necessary in such cases. In an assignment, the tenant transfers both privities of estate and privity of contract, making the assignee the new occupant with all rights of the previous tenant, along with the obligations of the original lease agreement with the landlord.