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Security Deposit: As set forth in Section 3. 03 of the Master Lease and Section 14 herein. 2. Sublease.Your sublease agreement should clearly define what it means for a sublessee to default on the agreement. This lease shall be for the term of. When the tenant of a particular piece of property wishes to give his or her rights under the lease to another party, the situation warrants a sublease. In these situations, the tenant will sublease a room in the property to the new tenant rather than the entire rental property. A sublet, or sublease agreement, adds someone new to an existing lease. Include the full (legal) name of the original tenant and the individual who will be subletting, as well as the date. A sublease is where a tenant of property leases out a portion or whole premises to another tenant. Let's break down the process.
