The Real Estate Encyclopedia
What Does Lease Assignment Mean?
Category - Real Estate Information Sources - General Real Estate Information

Unless the lease agreement specifically forbids it, leases can be sub-leased.  When a tenant transfers the leasehold interest, he/she “assigns” the lease.  Although the tenant is not released from the liability of performance in connection with the rental payments, the landlord does expect payment from the new tenant (assignee) and will pursue the previous tenant (assignor) as a last resort.

 
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Home Ownership Questions - Lease & Renting FAQ's
Real Estate Information Sources - General Real Estate Information
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