Michigan Disposición de pago en un subarrendamiento - Attornment Provision in a Sublease

• Category: Propietario Inquilino - Arrendamientos comerciales - Alaska
• State: Multi-State
• Control #: US-OL2004
• Format: Word

Description

Negociación y Redacción de Arrendamientos de Oficinas The Michigan Attornment Provision in a Sublease is a legal clause that addresses the issue of the subtenant's recognition of the landlord's rights, especially in the event of the original lease being terminated or the landlord's interest being transferred. It ensures that the subtenant agrees to acknowledge and adopt the obligations and terms of the original lease, with the added requirement of providing attornment to the landlord. In Michigan, there are two main types of Attornment Provisions in a Sublease: 1. Immediate Attornment: This provision requires the subtenant to immediately recognize the landlord as their new landlord if the original lease is terminated or the landlord's interest is transferred. Essentially, the subtenant is obligated to continue their tenancy under the terms of the original lease with the new landlord. This type of attornment provision is often preferred by landlords as it provides stability and continuity in the landlord-tenant relationship. 2. Conditional Attornment: This provision grants the subtenant the ability to terminate the sublease if the original lease is terminated or if the landlord's interest is transferred. Unlike immediate attornment, the subtenant has the option to terminate their tenancy rather than recognizing the new landlord. However, if the subtenant chooses to stay, they are required to attorn to the new landlord and abide by the terms of the original lease. This type of provision may provide flexibility for the subtenant, particularly in situations where they may not wish to continue their tenancy under a new landlord. Both types of attornment provision aim to protect the rights and interests of both the landlord and the subtenant. It ensures that in the event of a change in ownership or lease termination, the subtenant is made aware of their obligations and the authority of the new landlord. It also provides the subtenant with clarity and transparency regarding their rights and responsibilities under the original lease. Overall, the Michigan Attornment Provision in a Sublease acts as a safeguard, defining the subtenant's role and ensuring continuity in the landlord-tenant relationship. It is important for both parties involved in a subleasing arrangement to carefully consider the specific attornment provision and its implications before entering into the sublease agreement.

The Michigan Attornment Provision in a Sublease is a legal clause that addresses the issue of the subtenant's recognition of the landlord's rights, especially in the event of the original lease being terminated or the landlord's interest being transferred. It ensures that the subtenant agrees to acknowledge and adopt the obligations and terms of the original lease, with the added requirement of providing attornment to the landlord. In Michigan, there are two main types of Attornment Provisions in a Sublease: 1. Immediate Attornment: This provision requires the subtenant to immediately recognize the landlord as their new landlord if the original lease is terminated or the landlord's interest is transferred. Essentially, the subtenant is obligated to continue their tenancy under the terms of the original lease with the new landlord. This type of attornment provision is often preferred by landlords as it provides stability and continuity in the landlord-tenant relationship. 2. Conditional Attornment: This provision grants the subtenant the ability to terminate the sublease if the original lease is terminated or if the landlord's interest is transferred. Unlike immediate attornment, the subtenant has the option to terminate their tenancy rather than recognizing the new landlord. However, if the subtenant chooses to stay, they are required to attorn to the new landlord and abide by the terms of the original lease. This type of provision may provide flexibility for the subtenant, particularly in situations where they may not wish to continue their tenancy under a new landlord. Both types of attornment provision aim to protect the rights and interests of both the landlord and the subtenant. It ensures that in the event of a change in ownership or lease termination, the subtenant is made aware of their obligations and the authority of the new landlord. It also provides the subtenant with clarity and transparency regarding their rights and responsibilities under the original lease. Overall, the Michigan Attornment Provision in a Sublease acts as a safeguard, defining the subtenant's role and ensuring continuity in the landlord-tenant relationship. It is important for both parties involved in a subleasing arrangement to carefully consider the specific attornment provision and its implications before entering into the sublease agreement.

Para su conveniencia, debajo del texto en español le brindamos la versión completa de este formulario en inglés. For your convenience, the complete English version of this form is attached below the Spanish version.