What happens when a tenant fully assigns the lease?

When a tenant fully assigns the lease, the transaction transfers the tenant's entire interest in the lease to an assignee. This means that the assignee now becomes responsible for all obligations under the lease, including paying rent and adhering to the terms of the lease.

In this scenario, once an assignment is completed properly, the original tenant typically relinquishes any further liability for the lease. This is an important aspect of lease assignments, as it distinguishes it from a sublease, where the original tenant remains responsible even if they have an agreement with the subtenant to pay rent.

The other options do not accurately reflect the nature of a full lease assignment. The landlord does not take over the entire lease; rather, they continue the landlord-tenant relationship with the new tenant. The lease does not terminate automatically upon assignment; it continues under the new tenant's name. Lastly, the subtenant paying only part of the rent implies that the arrangement is a sublease, which is fundamentally different from a full assignment where the assignee takes on full responsibility. Thus, the correct interpretation of a full lease assignment is that the original tenant has no further liability once the assignment is executed.