A lease drawn between a tenant and a subtenant. This is another method of transferring tenants rights under which the tenant's obligations to the landlord are not released.
a lease from one lessee to another
lease or rent all or part of (a leased or rented property) to another person; "We sublet our apartment over the summer"
a lease between a current co-op shareholder and another person
a lease between the Company and a franchisee, whereby the franchisee pays rent to the Company
an agreement by which the tenant transfers part of his/her rights and interest in the leasehold to a third party
an arrangement whereby a lessee leases the property to a different end user while the lessor maintains ownership
a separate rental agreement between the original tenant and a new tenant who moves in temporarily (for example, for the summer), or who moves in with the original tenant and shares the rent
a separate rental agreement between the original tenant and a new tenant who moves in to share the rent
Arrangement in which a tenant leases rental property to another, and the tenant becomes the landlord to the subtenant.
An agreement in which the lessee in a prior lease conveys the right of use and occupancy of a property to another, the sublessee.
When a tenant leases the unit to someone else. Not all leases grant this permission to the tenant. In many cases the landlord will require notification prior to your subleasing the unit. This does not relieve you of responsibility for the lease - it simply provides someone else to pay the rent.
An agreement whereby one person who has leased land from the owner rents out all or a portion of the premises for a period ending prior to the expiration of the original lease.
Transferring of lease rights to a different party. Usually prohibited and a breach of contract. Check with your lessor or assignee before entering into a sublease.
A lease transaction in which the use of leased property is released by the lessee to a third party, usually while the lease agreement between the original parties remains in force.
lessee conveys the land to a third person "for a shorter term than that which the lessee holds the title".
A lease between the tenant and a subtenant where the tenant remains liable for all obligations of the master lease.
a separate rental agreement between the original tenant and a new tenant to whom the original tenant rents all or part of the rental unit. The new tenant is called a "subtenant." The agreement between the original tenant and the landlord remains in force, and the original tenant continues to be responsible for paying the rent to the landlord and for other tenant obligations. (Compare to assignment.)
Oral or written contractual transfer of your leased vehicle to another person. Such a transfer is usually prohibited without the lessor's or assignee's approval.
Oral or written contractual transfer of your right to use the leased vehicle to another person. Such a transfer is usually prohibited without the lessor's approval.
A lease executed by the lessee of an estate to a third person that conveys the same estate for a shorter term, or a portion of the estate for the same or a shorter term, is a sublease. When the entire estate is sublet for the entire remainder of the term, it is call an assignment. Subordinated ground lease. A ground lease in which the lessor (owner) places his right in relation to the structure behind that of others, such as the holder of the construction loan or permanent mortgage (see Ground lease).
A lease between a current tenant and another person.
A rental contract between a tenant and someone who rents from the tenant.
When a lessee leases the property to another.
a lease of the premises granted by one who himself is a tenant of the premises.
The lease agreement between Sublessor and Sublessee
"A tenant's grant of interest in the leased premises which is less than that tenant's own ..." Dukelow
A lease of less than all of the interest held by an original Lessee to a Sublessee.
A lease given by a tenant.
A lease given by a lessee for a portion of the leasehold interest, while the lessee retains some reversionary interest. The sublease may be for all or part of the premises, for the whole term or part of it, as long as the lessor retains some interest in the property. Leases normally contain a clause prohibiting subletting without prior consent of the lessor. The lessee remains directly liable to the lessor for the rent, which is usually paid by the sublessee to the lessee and then from the lessee to the lessor. The sublessee does not have a contractual obligation to pay rent to the original lessor.
A lease of a leasehold interest (known as the headlease). A sublease may be in respect of the whole or part only of the premises, and must terminate before the termination date of the headlease. The sublease must not conflict with the terms of the headlease.
A transaction in which leased property is re-leased by the original lessee to a third party, and the lease agreement between the two original parties remains in effect. ERMINAL RENTAL ADJUSTMENT CLAUSE (TRAC) A lessee guaranteed residual value for vehicle leases (automobiles, trucks or trailers), the inclusion of which will not, in and of itself, disqualify the tax lease status of a tax-oriented vehicle lease.
A rental agreement or lease between a tenant and a new tenant (called a sublessee) who will either share the rental or take over from the first tenant. The sublessee pays rent directly to the tenant. The tenant is still completely responsible to the landlord for the rent and for any damages, including those caused by the sublessee. Most landlords prohibit subleases unless they have given prior written consent.
A lease agreement in which the lessee (tenant) transfers some of the interest in the leased property to a third party (sublessee) but retains some reversionary interest for himself or herself. In a sublease the sublessor has a sandwich lease and no direct legal relationship is created between the landlord and the sublessee. A sublease is really an estate within an estate. The lessee becomes a sublessor and a landlord/tenant relationship is established between the sublessor and the sublessee. Since the sublessor can only convey the rights which he or she has, the sublessee is effectively bound by any limitations in the main or underlying lease. The sublessor remains primarily liable to the landlord for rent and the performance of all covenants.
Subleasing is having someone else take over a tenant's rights and obligations under a lease before the original lease expires. The tenant has a right to sublet a unit if the lease does not prohibit doing so. If the new tenant does not pay rent, damages the unit, leaves before the lease expires, or breaches another condition of the lease, the landlord can hold the original tenant responsible. The original tenant can then sue the new tenant for those costs.
A lease given by a Lessee to another Lessee who then becomes the "Sublessee or Subtenant".
when a tenant rents a room or the entire premises to someone else, but is still directly responsible for the rent.
Transfer by a tenant of his interest in leased property for a term less than his own, the tenant retaining a reversion.
The lease of premises by a tenant to someone else.
A lease executed by a tenant (the 'Sub-Lessor') to another lessee (the 'Sub-Lessee') for a term equal to or shorter than that held by the tenant under it's original lease with the landlord. In most subleases, the original tenant remains primarily liable to the landlord for the performance of lease obligations, including the payment of Base Rent and Additional Rent, and the Sub-Lessee is liable for payment of sublease rent to the Sub-Lessor. Subleases usually require landlord consent. EXAMPLE: ABC Tenant is leasing 10,000 sq. ft. in Ellipsis Tower, of which 2,500 sq. ft. is not currently being used for business purposes. In accordance with their lease, ABC sends written notification to the Landlord of their intent to sublease the 2,500 sq. ft. to XYZ Company. The Landlord grants their consent to the sublease, which provides for sublease rent in the amount of $15.00/sq. ft./year. XYZ Company (the Sub-Lessee) makes the required sublease payments to ABC Tenant (the Sub-Lessor), and ABC Tenant continues to make its required rental payment to Landlord pursuant to the original lease.
A lease agreement between the lessee and a third party for a term no longer than the remaining portion of the original lease.
Lease agreement between the lessee (one who leases property from another) of an original lease and a new lessee. The new lessee is the subtenant because he is renting from the original tenant rather than the owner.
A lease given by the original lessee (tenant) to a new lessee. This lease only transfers possession of the property, not ownership of the leasehold. The original lessee remains primarily liable for all rent payments.
A sublease is when the lessee in a lease assigns the lease to a third party, thereby making the old lessee the sublessor, and the new lessee the sublessee, or subtenant. For example, the owner of an office building may lease the whole building to a management company that then finds tenants for the individual units and gives them control. Some leases forbid the practice of subleasing.