In this lesson, we’ll learn how both landlords and tenants can transfer their property interests. We’ll also discuss the legal consequences of a transfer.

A tenant can transfer a leasehold interest through either an assignment or a sublease. In an assignment, the tenant transfers the entire remaining lease to a new tenant, called the assignee. The transferring tenant keeps no interest in the property. In a sublease, the tenant transfers only part of the lease, while keeping the rest. For...