sublet

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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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References in periodicals archive ?
I know subletting is not legal, but I am not the only one doing it.
In March this year, the Ministry gave a 90-day notice to all resettled farmers who are subletting their farms to stop or face the consequences.
I would strongly advise you to consider very carefully whether you are prepared to consent to the proposed subletting.
Subletting of the whole property however, is a different matter and this is not permitted without the required formal approvals and subletting agreements in place.
Northumberland County Council says illegal subletting of council and social housing prevents people in genuine need finding homes.
Ms Jakeman explained: "The essence of subletting is that another business takes on a new lease while the original lease remains in force and the obligations under it remain with the tenant.
I would urge all leaseholders who are or are thinking of subletting to download a copy from www.
I think it sold so quickly because it was a sponsor sale in a co-op, so subletting right away was allowed," said Havlioglu.
According to Richard Siegler, a partner in the real estate department at law firm Stroock & Stroock & Lavan, boards "believe that subletting is inimitable to good values.
Tenancy cheats are people who live elsewhere and can earn thousands of pounds a year by unlawfully subletting their properties at higher rental rates.
Tenancy cheats live elsewhere and can earn thousands of pounds a year by unlawfully subletting their properties at higher rental rates.