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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 only transfers a portion. Tenants should seek landlord consent before attempting an assignment unless otherwise stated in the contract. If consent is required, it must be obtained for the assignment to proceed. In an assignment, the tenant transfers both privities of estate and privity of contract, meaning the assignee takes on all obligations of the original lease with the landlord. Consequently, the assignee inherits all rights from the previous tenant, along with the responsibilities outlined in the lease agreement.
