Underlease n. : A lease granted by a tenant or lessee; especially, a lease granted by one who is himself a lessee for years, for any fewer or less number of years than he himself holds; a sublease.

Example:
in tx real estate when you sale a property Underlease, what happens to the current lease?

Taxonomy
lease, dictionary, encyclopedia, lessee, Law Dictionary, thesaurus, assignment, assignee, Wils, Bl, legal definition, synonyms, Ohio, covenant, premises, underlay, Legal Dictionary, online dictionary.

Defination from the web:
Underlease in the Legal Dictionary - by Free online English dictionary and encyclopedia. What is Underlease? Meaning of Underlease as a legal term. ... part of the lands, though for the whole term, is an underlease; 2 Ohio, R. 216; in Kentucky, such a transfer, on the ...