Lesson 2 – Subleasing

Sublease-

A sublease is where a tenant transfers all or part of the premises for a
part of the term of the lease, but for different rent or upon different
terms and conditions.

Tenant retains revisionary interest in the premises.

Landlord retains privity of contract with original tenant, but privity of estate with assignee.

Landlord cannot unreasonably withhold consent to sublease.

Lesson 2 – Subleasing