What characterizes an assignment in a lease?

An assignment in a lease is characterized by a transfer of the tenant's entire interest and obligations in the lease to another party for the remaining duration of the lease term. This means that the original tenant effectively hands over their rights and responsibilities to a new tenant, who then occupies the leased space under the same conditions set forth in the original lease agreement. This transfer does not alter the terms of the lease itself; instead, it maintains the lease's continuity while changing the tenant.

In this context, the assignment represents a complete relinquishment of the current tenant's role in the lease, which is crucial as it ensures that the landlord still has an enforceable agreement with the new tenant. While the original tenant may retain some liability depending on the lease terms, the key element of an assignment lies in the full transfer of the lease, contrasting it with subleasing, where the original tenant retains some rights as they rent out part of the space without transferring the entire lease.

The other choices do not accurately define an assignment. A temporary lease agreement refers to short-term rentals but does not encompass the concept of transferring an entire lease interest. A lease for a different location implies a new lease rather than a transfer of an existing one. Lastly, a short-term rental arrangement typically