Massachusetts Real Estate License Practice Test

The term that describes a transfer of the entire balance of the term of the lease for the whole or part of the leased premises is known as a sublease. In a sublease, the original tenant, referred to as the sublessor, transfers their rights and obligations under the lease to a new tenant, called the sublessee, for a portion or the entirety of the remaining lease term. This arrangement allows the sublessor to remain responsible to the landlord while transferring the day-to-day responsibilities of occupying the property to the sublessee.

Understanding the nuances of subleasing is important in real estate, particularly regarding the original tenant's obligations to the landlord and the rights of the sublessee. In a sublease, the original lease remains in effect, meaning the landlord retains a direct relationship with the original tenant, even though the sublessee occupies the premises.

The other terms mentioned refer to different concepts within leasing and property management. A transfer involves moving ownership or rights but does not necessarily specify the context of leases. An assignment generally refers to the complete transfer of one party's rights and obligations in a lease to another party, which is distinct from a sublease as the original tenant relinquishes their interest in the lease entirely. A lease