What is "subleasing" in the context of leases?

Subleasing refers to a situation where the original tenant, who holds the lease on a property, leases that property or a portion of it to another party, known as the subtenant. This arrangement allows the original tenant to maintain their lease while transferring some rights and responsibilities concerning the property to the subtenant. In many cases, the subtenant pays rent to the original tenant, who continues to be responsible for adhering to the terms of the original lease with the property owner.

The other options diverge from the concept of subleasing. The act of leasing exclusive rights would involve the primary leaseholder giving up rights to another party, which is different from subleasing. Transferring ownership of a property implies a sale rather than a lease agreement, and negotiating lease terms refers to the discussions and arrangements made before entering into a lease, neither of which captures the essence of what subleasing entails. Thus, the correct understanding of subleasing is rooted in the original tenant leasing to another tenant while retaining overall responsibility for the lease.