What is a Sublease Agreement?
A Sublease Agreement is a contract used by a tenant to lease a portion or the entire premises they are renting to a third party for the remainder or even a portion of the remaining lease term. With this kind of agreement, the original lessee is both a tenant and a landlord/lessor. Some leases prohibit the premises from being sublet. There are both residential sublease agreements as well as commercial sublease agreements. The original lessor will remain resposible to the original landlord.
Definition for Sublease Agreement or sublet.