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When assigning a lease agreement, it's crucial to distinguish 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 it to the subtenant. Tenants should seek landlord consent before assigning their interest unless explicitly stated otherwise in the contract. Consent may be necessary in some cases for assignments. In an assignment, the tenant transfers both privity of estate and privity of contract, making the assignee the new occupant with all rights held by the previous tenant. The assignee assumes all obligations of the contract between the landlord and the prior tenant, thereby inheriting their rights and responsibilities.