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When assigning a lease agreement, it's important 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 a subtenant. Tenants should seek the landlord's consent before assigning their interest if not explicitly stated in the contract. Consent may be required for the assignment process. In an assignment, the tenant transfers both privity of estate and privity of contract, making the assignee the new occupant who assumes all obligations outlined in the original contract with the landlord. Consequently, the assignee inherits all rights and responsibilities of the previous tenant.
