Glossary Term
An assignment of lease is when you transfer your entire lease to a new tenant, who then takes over your rights and obligations for the rest of the term. Unlike subletting, assignment usually ends your tenancy, though you may stay partly responsible if your landlord requires it.
In short
An assignment of lease is when you transfer your entire lease to a new tenant, who then takes over your rights and obligations for the rest of the term. Unlike subletting, assignment usually ends your tenancy, though you may stay partly responsible if your landlord requires it.
Assignment can be a clean exit from a lease, but you may remain liable if the new tenant defaults, so understanding the terms and getting a clear release protects you financially.
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Assignment transfers your whole lease to a new tenant and usually ends your tenancy, while subletting keeps you on the lease as the responsible tenant. Assignment is a fuller handoff.
Sometimes. Unless your landlord gives you a written release, you may remain liable if the new tenant fails to pay or breaks the lease. Always ask for a release.
Often yes, especially if your lease requires consent, though some states say a landlord can't unreasonably refuse. Check your lease and state law.
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