What is another word for Underlease?
Pronunciation: [ˌʌndəlˈiːs] (IPA) 
An underlease is a legal agreement between two parties where the original tenant of a property rents the property to another tenant. The underlease gives the new tenant exclusive possession of the property for a limited time while the original tenant still holds the primary leasehold rights to the property. Synonyms for underlease include sublease, subletting, lease assignment, lease transfer, and secondary lease. These terms essentially indicate the same arrangement, although in some cases, there may be slight variations in terms of the obligations of the parties involved in the lease agreement. Whatever the terminology, underleases can be a practical way for tenants to maximize the use of their rental property, especially if they cannot use it for the entire duration of their primary leasehold.
