Legal Definition of Assigning: Transferring to another. In the context of a lease, the transfer by a lessee to another person of all of the lessee’s interest in the leased property; an assignment differs from a sublease in that a sublease does not transfer all of the lessee’s rights in the property | Discover the legal definition of assigning and how it impacts your business operations. Learn about transferring rights or interests in lease agreements and intellectual property transactions. Use assigning to exit leases or monetize your creations. Make informed decisions that align with your strategic goals