Transferring only some of the rights under a lease by a tenant is known as what?

Transferring only some of the rights under a lease by a tenant is known as a sublease. In a sublease situation, the original tenant retains some degree of control and responsibility for the property while allowing another individual, the subtenant, to occupy the premises. The sublease does not relieve the original tenant of their obligations under the original lease, and the subtenant typically has a relationship with the original tenant rather than the landlord.

In contrast, an assignment involves transferring all rights and obligations under the lease to another party. In this case, the original tenant essentially steps out of the contract, and the assignee becomes directly responsible to the landlord for the terms of the lease.

Joint tenancy refers to a form of property ownership where two or more individuals hold title to property jointly, with rights of survivorship. This concept doesn’t pertain to lease agreements directly.

A lease extension is a modification of an existing lease that extends the duration of the lease agreement. This term does not involve the transfer of rights but rather changes the terms of an existing agreement.

Understanding these distinctions is crucial in the context of real estate and property law, emphasizing the specific legal terminology that delineates various forms of agreements and responsibilities.