Learn about how landlords or tenants can transfer their interests, whether by selling the property, transferring the lease, or subletting the property.
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...