New Mexico 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 New Mexico Attornment Provision in a sublease refers to a specific clause that outlines the relationship between a tenant (sublessee), the original landlord (lessor), and a new landlord (successor or assignee) in the event of a transfer of the property ownership. This provision ensures that the sublessee recognizes and accepts the new landlord as the rightful owner of the property, agrees to attorn (that is, accept or recognize) and continue the tenancy under the new ownership, and abide by the terms and conditions of the existing sublease agreement. In New Mexico, there are a few types of Attornment Provisions that can be included in a sublease agreement. These include: 1. Automatic Attornment Provision: This type of provision ensures that the sublessee's tenancy automatically continues with the new landlord, without requiring any further action or consent. It is typically included to provide clarity and certainty in the event of a sale or transfer of the property. 2. Conditional Attornment Provision: This type of provision states that the sublessee's attornment to the new landlord is subject to certain conditions being met. These conditions may include the successor landlord assuming all the obligations and responsibilities of the original landlord, or providing adequate assurances that the sublessee's rights under the sublease agreement will be protected. 3. Negotiated Attornment Provision: In some cases, the sublessee and the new landlord may negotiate specific terms regarding the attornment process. This could include negotiating changes to the sublease agreement or addressing any concerns or preferences the sublessee may have regarding the new landlord. The New Mexico Attornment Provision in a sublease is crucial for protecting the rights and obligations of both the sublessee and the new landlord. It ensures continuity of the sublessee's tenancy, even in the event of a change in property ownership, and provides clarity on the sublessee's responsibilities and rights under the sublease agreement.

The New Mexico Attornment Provision in a sublease refers to a specific clause that outlines the relationship between a tenant (sublessee), the original landlord (lessor), and a new landlord (successor or assignee) in the event of a transfer of the property ownership. This provision ensures that the sublessee recognizes and accepts the new landlord as the rightful owner of the property, agrees to attorn (that is, accept or recognize) and continue the tenancy under the new ownership, and abide by the terms and conditions of the existing sublease agreement. In New Mexico, there are a few types of Attornment Provisions that can be included in a sublease agreement. These include: 1. Automatic Attornment Provision: This type of provision ensures that the sublessee's tenancy automatically continues with the new landlord, without requiring any further action or consent. It is typically included to provide clarity and certainty in the event of a sale or transfer of the property. 2. Conditional Attornment Provision: This type of provision states that the sublessee's attornment to the new landlord is subject to certain conditions being met. These conditions may include the successor landlord assuming all the obligations and responsibilities of the original landlord, or providing adequate assurances that the sublessee's rights under the sublease agreement will be protected. 3. Negotiated Attornment Provision: In some cases, the sublessee and the new landlord may negotiate specific terms regarding the attornment process. This could include negotiating changes to the sublease agreement or addressing any concerns or preferences the sublessee may have regarding the new landlord. The New Mexico Attornment Provision in a sublease is crucial for protecting the rights and obligations of both the sublessee and the new landlord. It ensures continuity of the sublessee's tenancy, even in the event of a change in property ownership, and provides clarity on the sublessee's responsibilities and rights under 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.