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In this video, two key concepts are discussed: subleasing (or subletting) and the assignment of leases. It is emphasized that all real estate contracts, including leases, can be assigned unless specifically prohibited. The video explains the differences between these two concepts within a landlord-tenant relationship, identifying the lessor (landlord) and lessee (tenant) involved in a lease agreement. The example provided features a one-year lease at $500 a month for a single-family house, highlighting that these concepts apply regardless of the property type. The foundational aspects of lease assignments and subleasing will be elaborated upon.