A Novation Agreement is a contract between parties that transfers the rights and obligations of one party under an existing contract to a third party, effectively replacing one party with another.

In a Novation Agreement, typically three parties are involved: the original contracting parties (the outgoing party and the remaining party) and the new party (incoming party) who assumes the rights and obligations of the outgoing party.

A Lease Agreement, also known as a rental agreement or tenancy agreement, is a contract between a landlord and a tenant outlining the terms and conditions of renting a property.

In a Lease Agreement, usually two parties are involved: the landlord (property owner) and the tenant (person or entity renting the property).