Property Management
A 'sublease' in NC occurs when:
AA tenant transfers all of their lease rights to another party
BA tenant transfers some or all of their remaining lease rights to a third party while retaining some interest or liability✓ Correct
CA landlord adds a new co-tenant to an existing lease
DA property is sold subject to an existing lease
Explanation
A sublease involves the original tenant transferring some or all lease rights to a subtenant while typically remaining liable to the landlord under the original lease. An assignment transfers all rights with the assignee potentially taking on the liability.
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