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Definition of 'Sublease'

A sublease is a lease agreement in which a tenant (the sublessor) leases all or part of their leased premises to another party (the sublessee). The sublessor is still responsible for fulfilling all of the obligations of the original lease agreement with the landlord, while the sublessee is responsible for paying rent to the sublessor.

Subleases are often used when a tenant needs to move out of their leased premises before their lease expires, but they are unable to find a new tenant to take over the lease. In this case, the tenant may sublease their premises to another party for a shorter period of time, until they are able to find a new tenant or until their lease expires.

Subleases can also be used when a tenant needs to temporarily increase their living space. For example, a student who is going to be away from school for the summer may sublease their apartment to another student for the summer months.

There are a few things to keep in mind when subleasing a property. First, the sublessor must have the permission of the landlord to sublease the premises. Second, the sublease agreement must be in writing and must include all of the same terms and conditions as the original lease agreement. Third, the sublessor is responsible for paying all of the rent and other charges due under the original lease agreement, even if the sublessee fails to pay their rent.

Subleases can be a convenient way for tenants to temporarily increase their living space or to move out of their leased premises before their lease expires. However, it is important to understand the terms and conditions of the sublease agreement before signing it, in order to avoid any potential problems.

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