What is the Difference Between a Lease Assignment and Subleasing
Many people incorrectly use the words “assignment” and “sublease” interchangeably. They are in fact two separate things.
An assignment is when a tenant transfers the entire remaining portion of a lease to another tenant. For example, let’s say a tenant has six months remaining on a one-year lease but wants to move out for good. In this case he can “assign” the remaining six months of the lease to a new tenant. Assignments are used by tenants who want to get out of lease without being in breach. By finding another tenant for the premises, the person prevents the landlord from suffering any losses. Most leases require a tenant to obtain the landlord’s consent before assigning the lease. If the lease does not address assignments, state law will apply.
A sublease is when a tenant transfers a portion of the lease period to another tenant. For example, let’s say a tenant wants to temporarily move out of the premises and return before the end of the lease. In this case the tenant can “sublease” the premises to another tenant until he returns. Subleases are usually used by tenants who work out of town or who go on vacation for a long period of time. By temporarily leasing the premises to another tenant, the person avoids having to pay rent during the time they are away from the premises. Most leases require a tenant to obtain the landlord’s consent before subleasing. If the lease does not address subleases, state law will apply.
The information in this article is for general information purposes only. Nothing on this or associated pages, comments, answers, or other communications should be taken as legal advice. The information provided is not intended to create, and viewing of this information does not constitute, an attorney-client relationship.
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