sublease

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sublease

The relationship created when a tenant rents some or all of its premises to another for some or all of the remaining term of the original tenant's lease. Technically, if the tenant transfers all of its interest, that is an assignment. If the tenant retains some of the space, or some of the time under the lease, that is a sublease. At all times, the tenant remains liable under its lease with the building owner.

References in periodicals archive ?
During this sub-let period, Cobalt will be relieved from paying the contracted day-rate and the Cobalt contract for the ENSCO 8503 will be suspended.
If the leasing of 56A Plasmawr Road represented best value, then I would suggest that anybody, anywhere grab as many commercial leases as possible, pay small premiums and then sub-let happily for 99 years.
The landlord, on written request, may be willing to consider granting a concession for a period of six months allowing you to sub-let in the short term because at least the property will be occupied.
O'Rourke told them she said she had sub-let the room to a man called Marco, who claimed he was going to set up a gym, and had received two rental payments.
She claims more than any other AM in Wales for her constituency office, which she sub-lets from the Lib Dems.
We have been able to sub-let our client's surplus accommodation within six months of instruction.
Police said the two men shared a 10-foot-by-10-foot bedroom they sub-let from a married couple, who also lived in the apartment.
Page, 60, had continued to claim benefit at the property in the Watergate Buildings, Sandhill, Newcastle, while he sub-let the flat.
But when news of a sixth sub-let emerged, McLeish announced his resignation.
Earlier this week, in a clear-the-air press conference, Mr McLeish said five tenants had sub-let rooms at his constituency office in Glenrothes, Fife, while he was an MP, paying a total of more than pounds 36,000 in rent.
Business presently has sub-let a part of the building.
They take out a tenancy and then sub-let to multiple occupants.