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Business Definition for: sublet
Dictionary of Real Estate Terms
sublet
See also sublease
Dictionary of Business Terms
sublet

to lease from under a lease. A tenant who leases property to another has sublet.

See also assignment of lease
Related Terms:
sublease

agreement in which the lessee contracts with a third party allowing the latter to use the lessee's right to the leased property. An example is the sublease of an apartment by the tenant to another party. If the lessee accounts under the operating lease method, the sublessee would also account under this method.

assignment of lease

transfer of rights to use leased property. The assignee acquires the same rights and privileges as the assignor. The assignor remains liable unless released by the landlord.

Referring Terms:
subtenant
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 Copyright © 2007, 2000, 1997, 1987, by Barron's Educational Series, Inc. Reprinted by arrangement with Publisher.
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