A sandwich lease is a lease held by a lessee who becomes a lessor by subletting the leased property. Typically, the sandwich leaseholder is neither the owner nor the end-user of the property.
Subletting refers to the act of a tenant leasing out part or the entirety of a property to another party under the conditions of their own lease agreement with the landlord.
A subtenant is an individual or entity that leases a part or whole of a rented property from the original lessee for a period that is equal to or shorter than the term of the original lease. The original lessee, in this arrangement, becomes the sublessor.
