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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, whereas a sublease only transfers a portion to the subtenant. Tenants should always seek landlord consent before assigning their interest unless explicitly stated otherwise in the contract. If consent is granted or required, it is essential for the assignment process. In an assignment, the tenant transfers both privities of estate and contract, meaning the assignee becomes the new occupant and assumes all obligations from the original lease agreement with the landlord. Consequently, the assignee holds all rights and responsibilities of the initial tenant.