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When assigning a lease agreement, it is essential 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 to the subtenant. Tenants should seek the landlord's consent before assigning their interest unless the contract specifies otherwise. If consent is required, it may be necessary for the assignment to occur. In an assignment, the tenant transfers both privities of estate and contract, making the assignee the new occupant responsible for all obligations under the existing lease with the landlord. The assignee inherits the rights and responsibilities of the previous tenant, creating a new contractual relationship with the landlord.
