assignable lease


assignable lease
A lease which contains a provision permitting its transfer by lessee or one which is silent as to lessee's right to transfer his interest and hence a lease which may be transferred. Assignment of lease is distinguishable from sublease to extent, inter alia, that in assigning, lessee transfers his entire estate in the demised premises, whereas in sublease the sublessee acquires something less than the lessee's entire interest. Spears v. Canon de Carnue Land Grant, 80 N.M. 766, 461 P.2d 415, 417

Black's law dictionary. . 1990.

Look at other dictionaries:

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