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Elements of Real Estate Lease Agreements

By James Kimmons, About.com

7 of 8

Assignment or Sublease of the Leased Property

If the tenant assigns their lease, it usually means that they've transferred all of their leasehold interests to the other party. In a sublease, the original tenant is re-leasing the property to another, with some of their interests transferred.

The lease agreement will specify whether any assignment or subletting is allowed and under what circumstances. In many cases, the tenant retains some or all of their liability for payment of rents and responsibility for damage to the property.

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  6. Assignment and/or Sub-leasing of the Leased Property

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