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sublet
(redirected from sublets)

    Also found in: Dictionary/thesaurus, Legal, Encyclopedia, Wikipedia 0.01 sec.
Assignment of Lease
The transfer of a lease by the lessee to another party. For example, if one rents an apartment, one might sell or give one's friend the right to live there (and the obligation to make payments). The assignor (the original lessee) remains bound by the lease contract if the assignee fails to make his/her obligations, unless the lessor states otherwise. Because of the potential complications, some lessors do not allow lessees to engage in assignment of lease.
sublet

See sublease.
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Real estate brokers and lawyers say that as the economy has eroded, there's been a spike in unauthorized sublets by shareholders who are desperate for cash but can't sell their homes.
Co-ops minus 'cooperation' by Taylor, Candace / The Real Deal
But as tuna fishermen do to dolphins, the firm seems to be catching a whole lot of innocent tenants as they cast a net for illegal sublets, or so claims Councilman Daniel Garodnick, a resident himself of Peter Cooper Village.
Councilman: Tishman Speyer Dragnet at Stuy Town Snaring Innocent ... by Eliot Brown / The New York Observer
He has since changed the arrangements and no longer sublets the office to the party.
PM and Speaker face accusations of breaking parliamentary rules by guardian.co.uk / guardian.co.uk
 
 
 
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