subtenant

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subtenant

a person who rents or leases property from a tenant
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Company Z knows that if Company Y files for bankruptcy during the course of its subtenancy, its rights to the property will be extinguished, as a matter of law, without Company Z having the ability to assert its interest in the property.
Emphyteusis, the practice of leasing land with the possibility of creating additional layers of subtenancy, was one such mechanism of expanding or insuring holdings.
With its subtenancy scheduled to expire at the end of 2006, I-Behavior has opted to continue operating from W&M Properties' 500 Mamaroneck Avenue as a long-term, direct tenant, says Jeffrey H.