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Assigning is allowing another person to take over the lease agreement. It can be done if there's a fixed term lease and the tenant needs to leave before the end date.
Once the landlord's consent has been obtained, the tenant and assignee can enter into a deed of assignment to transfer the lease to the assignee. If the lease is registered at the Land Registry the assignee will then need to register the assignment at the Land Registry.
A tenant can make a written request at any time to assign their tenancy to someone else. The request should include the contact details of the person being proposed to take over the tenancy. Alternatively, the landlord can find a replacement tenant, although they don't have to do this if they don't want to.
By contrast, an assignment occurs when you transfer all your space to someone else (called an assignee) for the entire remaining term of the lease. As with a sublet, you are free to choose your assignee and determine the rent unless your lease says otherwise.
Overview. If permitted by the landlord, assigning a lease is when a tenant has a new tenant take over all or a portion of their lease. The terms and responsibilities of the lease become the responsibility of the new tenant.