Question

Read through each scenario and then match the term to its scenario.

Scenario 1: Betty Sue agrees to take over the property in place of Mark. She pays rent to Mark, who then pays the landlord. Mark is technically still responsible for the lease.
Scenario 2: Betty Sue agrees to take over the property in place of Mark. The lease is legally transferred from Mark to Betty Sue, but if Betty Sue doesn't pay the landlord, Mark may still be responsible for the rent.

Scenario 1
- Assignment
- Sublease

Scenario 2
- Assignment
- Sublease

Scenario 1
- Sublease
A sublease is an agreement for a new occupant to live on the premises and pay rent to the original tenant

Scenario 2
- Assignment
an assignment is the substitution of tenants, putting the responsibility for the lease contract in the new tenant's hands.

Answer 1

A sublease involves a new occupant paying rent to the original tenant, while an assignment transfers the lease responsibility to the new tenant. Legal terms in lease agreements can be complex, with termination clauses requiring a 30-day notice and complete vacation of premises to avoid additional charges.

Step-by-step explanation:

When a tenant finds themselves unable to continue living in a leased property, they have a couple of options to avoid breaking the lease: subleasing and an assignment. A sublease occurs when the original tenant allows a new occupant to live in the premises and pay rent to them, not to the original landlord. This keeps the original lease agreement between the landlord and the original tenant in place. On the other hand, an assignment is when a new tenant takes over the lease contract from the original tenant, becoming directly responsible for the lease terms with the landlord.

The complexities in these transactions often arise from the legal terms and dense language used in lease documents. For instance, a termination clause generally outlines how a lease can be ended after the leasing period. It usually requires a 30-day written notice from either party and the property must be vacated of all belongings. If the resident fails to vacate by the termination date, they may incur additional rent and damages.