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When assigning a lease agreement, it is 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 the subtenant. Tenants should seek the landlord's consent before assigning their interest if it's not explicitly allowed in the contract, as consent is often required. In an assignment, both privity of estate and privity of contract are transferred, making the assignee the new occupant responsible for fulfilling all obligations under the original lease agreement with the landlord. The assignee inherits all rights and responsibilities of the previous tenant.