Sublease

A sublease in real estate refers to the leasing of a property by a tenant to a subtenant, typically for a portion of the original lease term. In this arrangement, the original tenant becomes the sublessor, while the new tenant is the sublessee. The terms of the sublease are often governed by the terms of the original lease, with some adjustments and additional agreements between the sublessor and sublessee. Subleasing can be a beneficial option for tenants looking to temporarily vacate their space or offset rental costs. However, it’s essential for all parties involved to carefully review and understand the terms and conditions of the sublease agreement to ensure clarity and compliance with legal obligations.