A lease assignment is the transfer of an existing resident’s legal rights and responsibilities under a lease to a new resident. The original resident is typically the assignor, and the incoming resident is the assignee who takes over rent and other lease obligations for the remaining lease term. In many leases, the property owner or manager must approve the assignment in writing before it is valid. Unlike a sublease, an assignment generally transfers the resident’s interest in the apartment rather than creating a temporary arrangement where the original resident expects to return.