Florida Broker Practice Exam

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What is it called when a lessee assigns less than the entire property or assigns all for less than the full remaining period?

Sublease
Assignment of lease
Percentage lease
Net lease

The correct answer is: Sublease

When a lessee assigns less than the entire property or transfers their lease rights for a portion of the unexpired term, it is referred to as a sublease. In a sublease, the original lessee retains some degree of interest in the property, which distinguishes it from an outright assignment of the lease. This can involve the lessee maintaining responsibility for certain obligations under the original lease agreement. Subleasing allows for flexibility, enabling the lessee to utilize the property partially while still adhering to the terms of the contract with the lessor. This concept is particularly important in real estate as it helps accommodate various situations, such as when a lessee needs to temporarily vacate a property without relinquishing their rights entirely. Understanding this term is crucial for anyone dealing with leasing agreements and tenant rights.