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Assignment vs. Sublease

An assignment transfers the tenant's entire remaining lease interest; privity of estate exists between assignee and landlord, making the assignee directly liable for rent. A sublease transfers less than the entire remaining term; no privity exists between sublessee and landlord.

Authority: Restatement (Second) of Property: Landlord and Tenant § 15.1Wex: assignment_subleaseEncyclopedia entry
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