Property Management
In Michigan, a commercial tenant's 'assignment' of a lease differs from 'subletting' because:
AThey are legally identical
BIn an assignment, the original tenant transfers all their lease rights and obligations to a new tenant; in a sublease, the original tenant retains some obligations and the sub-tenant pays rent to the original tenant✓ Correct
CSubletting requires court approval; assignment does not
DAssignment is prohibited in Michigan; only subletting is allowed
Explanation
An assignment transfers the entire remaining lease interest to the assignee, who steps into the original tenant's shoes. A sublease creates a new lease between the original tenant (sublandlord) and subtenant, while the original tenant typically remains liable on the original lease.
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