Sublease? Are you asking what is a sublease? A sublease typically refers to a scenario whereby a lessee (tenant), of a property, in turn, leases a portion, or all, of their interest (position), in a property, to a third party. In such a scenario the lessee, becomes the lessor, but typically remains the lessee, in the primary lease agreement, for which they are financially responsible. There are scenarios where by a third party will "take over" the financial responsibility of the lessee's position in a particular lease, and the original lessee is relieved of any responsibility. In these scenarios the original (primary) city lessor typically retains the right to approve, or disapprove, of any change in the lessee's legal, and financial obligations. If you have a question pertaining to sub-leasing a property asked to see the lease as the terms and conditions whereby this is allowed is typically spelled out.
Jul 3, 2014