Grant by a tenant to a third person of an interest less than his own in residential premises, so that, as between these parties, the tenant (sublessor) becomes the landlord, and the their person (sublessee) becomes the tenant
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 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
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
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 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
The leasing of equipment to or from another party that is currently already under a lease Usually the sublease is made under the same terms and conditions as the original lease (except for length of term and price)
A transaction in which leased property is released by the original lessee to a third party, and the lease agreement between the two original parties remains in effect