Understanding the Difference Between Assignment of Contract and Subletting

When it comes to legal agreements, it’s essential to understand the difference between assignment of contract and subletting. These terms are often used interchangeably, but they have distinct meanings and implications.

An assignment of contract refers to the transfer of rights and obligations of one party (the assignor) to another party (the assignee). This means that the assignee takes over the contractual rights and responsibilities, essentially stepping into the shoes of the assignor. The assignor no longer has any involvement or liability in the contract once the assignment is complete.

On the other hand, subletting is a situation where the original tenant (the sublessor) rents out the premises to a third party (the sublessee) for a specific period. Unlike an assignment, the original tenant remains responsible for fulfilling the terms of the lease and is still liable to the landlord.

Understanding the difference between assignment of contract and subletting is crucial because it affects the rights and obligations of the parties involved. For example, if a tenant wants to transfer their lease to another person, they may choose to either assign the contract or sublet the property.

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