Sublease Agreement

A sublease agreement is a second lease that is made as a byproduct of the original, granting a third party with temporary use of the property under the original lessee. The original lessee creates a new lease, called a sublease, in which he becomes a sublessor and the new tenant a sublessee. Just as in the original lease, temporary use of property is given in exchange for payment, which means the sublessor is renting as well as receiving rent. A sublease agreement will probably govern the lease through similar terms as the original lease ヨ security deposits, length of lease, and conditions of property use ヨ especially so because the sublessor is completely liable to the terms of the original lease. However, different payment terms are normally defined in the sublease.

Fast Facts

  • subleases for lodgers depend on exclusive possession
  • some sublessees may actually pay less than what the original lessee is paying

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Results 1-5 of 10 for "sublease agreement"

  • How to Sublease Office Space

    If you are looking for commercial property, you may wish to sublease office space. Corporate restructuring and...
    • Site: realestatelawyers.com
    • 1 of 1 user(s) found this useful
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    • Site: realestatelawyers.com
  • The Pros and Cons of

    Two small but important clauses that sometimes pop up (most frequently in shopping center leases) are the “use...
    • Site: landlordtenantlawfirms.com
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    • Site: realestatelawyers.com
  • Sublet Agreements

    Tenants often ask their landlords for permission to sublease the rental when they would like to leave before t...
    • Site: landlordtenantlawfirms.com
    • 1 of 1 user(s) found this useful

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