Definition of Sublease:
A sublease is the renting of property by a tenant to a third party for a portion of the tenant’s existing lease contract.
Lease from one tenant (lessee) to another (called subtenant or sublessee). The agreement between the landlord (the lessor) and the first lessee remains in force and governs the terms of the sublease. Also called sublet.
A lease is a contract between a property owner and a tenant that transfers the owner’s rights to the exclusive possession and use of the real estate property to the tenant for an agreed-upon period. The lease states the length of time the contract is to run and the amount of the tenant’s rent. In legal terms, the tenant’s legal right to possess the property is deemed tenancy. Subleasing occurs when the tenant transfers a part of their legal tenancy to a third-party as a new tenant.
Synonyms of Sublease
Adverse possession, Alodium, Bareboat charter, Burgage, Charter, Claim, Colony, De facto, De jure, Dependency, Derivative title, Farm, Farm out, Fee fief, Fee position, Fee simple, Fee simple absolute, Fee simple conditional, Fee simple defeasible, Fee simple determinable, Fee tail, Feodum, Feud, Fiefdom, Frankalmoign, Free socage, Freehold, Gavelkind, Having title to, Hire, Hire out, Hiring, Hold, Holding, Job, Knight service, Lay fee, Lease, Lease out, Lease-back, Lease-lend, Leasehold, Legal claim, Legal possession, Lend-lease, Let, Let off, Let out, Mandate, Occupancy, Occupation, Original title, Owning, Possessing, Possession, Preoccupancy, Preoccupation, Prepossession, Prescription, Property, Property rights, Proprietary rights, Rent, Rent out, Rental, Seisin, Socage, Squatting, Sublet, Subrent, Tenancy, Tenantry, Tenure, Tenure in chivalry, Title, Underlease, Underlet, Undertenancy, Usucapion, Villein socage, Villeinhold, Villenage
How to use Sublease in a sentence?
- The owner of the real estate must typically approve any subletting arrangement created by the tenant.
- A sublease is the transfer of tenancy from a tenant to a third party for a specified period.
- You may want to sublease a space if you dont have need for it now but may later down the road.
- If a tenant decides to sublease, they are still responsible for rent payments and other contractual obligations.
- I told her that I wanted to sublease my apartment to someone else and they would take on the pay for the rest of the year.
- Jana had to leave town for work for 5 months but she didnt want to give up her apartment; luckily she was able to find someone to sublease it to for that time.
Meaning of Sublease & Sublease Definition