Abstract
Assignment and Subleases are commonplace. The difference between the two is a product of common law. Without a thorough understanding of the differing rights among landlords, tenants, and transferees resulting from assignments and subleases, parties may find themselves unpleasantly surprised. This paper will give a brief overview of what a lease is, covenants in a lease, Assignment of a lease by a tenant, and the enforcement of covenants in a lease by a tenant assignee. A leasehold relationship or interest exist between two or more parties where one party gives out or lets out his property to another person to use for a period and usually, though not always, in consideration of payment of rent. It is a contract for the exclusive possession and profit of land for some definite period. In a lease, the consideration flowing from the Lessor to the Lessee is the demised premises. The consideration paid by the Lessee is the rent and the observance of any condition or covenant in the lease.
Keywords: Leasehold, Nigeria, Legal Practice, Covenant, Lease