Assignments Flashcards
1
Q
What is an assignment?
A
An assignment is a complete transfer of the tenant’s entire remaining term under the lease.
2
Q
In an assignment who can the landlord collect rent from?
A
A land lord can collect rent from
1) Assignee because they are in privity of estate; or
2) The original tenant because they are in privity of contract and estate.
3
Q
What is a sublease?
A
A sublease is a transfer of less than the tenant’s entire remaining term under the lease.
4
Q
Who can a landlord collect rent from in a sublease?
A
The landlord can only collect rent from the original tenant because they are in privity of contract and estate.
5
Q
Who does a subtenant have rent obligations too?
A
The subtenant only has rent obligations to the original tenant.
