When a tenant transfers only part of hisright of possession or other interest in leasedproperty to another person for part of theremaining lease term. Compare: Assignment.

Merriam-Webster Online Dictionary
sublease (noun)
a lease by a tenant or lessee of part or all of leased premises to another person but with the original tenant retaining some right or interest under the original lease
sublease (verb)
transitive verb
to make or obtain a sublease of
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