New Mexico Sublease Agreement
The New Mexico sublease agreement is a legal instrument that allows a tenant to rent their leased property, either wholly or partially, to another party referred to as the ‘sublessee.’ This arrangement effectively positions the tenant as a ‘landlord’ to the sublessee, who then becomes responsible for making payments to the original tenant and adhering to the terms set in the sublease agreement.
Despite this new arrangement, the original tenant continues to bear full responsibility under the terms of the original lease agreement with their landlord. This means that any violations of the lease by the sublessee could potentially result in repercussions for the original tenant. Therefore, while this agreement offers a practical solution for tenants unable to maintain occupancy, it also necessitates careful selection and monitoring of the sublessee to ensure compliance with both the sublease and original lease agreement.