Virginia 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 Keyword: Virginia Attornment Provision in a Sublease Description: The Virginia Attornment Provision in a sublease is a legal clause that establishes the rights and obligations of the subtenant towards the landlord and outlines the process of attornment in the event of a default or termination of the master lease. This provision is crucial for both the subtenant and the landlord to ensure a smooth transition and avoid any legal disputes. There are different types of Virginia Attornment Provisions that may be included in a sublease agreement: 1. Basic Attornment Provision: This provision simply states that the subtenant agrees to attorn to the landlord in case of any default or termination of the master lease. It outlines the subtenant's duty to continue paying rent and follow all the terms and conditions of the original lease. 2. Non-Disturbance Attornment Provision: In some cases, the subtenant may request a non-disturbance provision, which ensures that they will not be evicted or disturbed by the landlord if the master lease is terminated due to the default of the tenant. This provision gives the subtenant the right to remain in the premises as long as they fulfill their obligations under the sublease agreement. 3. Attornment and Subordination Provision: This provision establishes that the subtenant's rights are subordinated to the rights of the landlord and any future mortgage or leasehold lender. It clarifies that if the landlord's interest in the property is transferred, the subtenant must recognize and attorn to the new landlord or lender. 4. Estoppel Certificate Provision: This provision requires the subtenant to provide an estoppel certificate upon request by the landlord. An estoppel certificate confirms the subtenant's current position, rights, and obligations under the sublease. It helps prevent any misrepresentations or inconsistencies that could arise during the transfer of the property. Including a Virginia Attornment Provision in a sublease protects the interests of all parties involved. It ensures that the subtenant recognizes the landlord's authority and provides a framework for addressing issues that may arise during the term of the sublease. It is essential for both landlords and subtenants to carefully review and negotiate the terms of this provision to avoid any future legal complications.

Keyword: Virginia Attornment Provision in a Sublease Description: The Virginia Attornment Provision in a sublease is a legal clause that establishes the rights and obligations of the subtenant towards the landlord and outlines the process of attornment in the event of a default or termination of the master lease. This provision is crucial for both the subtenant and the landlord to ensure a smooth transition and avoid any legal disputes. There are different types of Virginia Attornment Provisions that may be included in a sublease agreement: 1. Basic Attornment Provision: This provision simply states that the subtenant agrees to attorn to the landlord in case of any default or termination of the master lease. It outlines the subtenant's duty to continue paying rent and follow all the terms and conditions of the original lease. 2. Non-Disturbance Attornment Provision: In some cases, the subtenant may request a non-disturbance provision, which ensures that they will not be evicted or disturbed by the landlord if the master lease is terminated due to the default of the tenant. This provision gives the subtenant the right to remain in the premises as long as they fulfill their obligations under the sublease agreement. 3. Attornment and Subordination Provision: This provision establishes that the subtenant's rights are subordinated to the rights of the landlord and any future mortgage or leasehold lender. It clarifies that if the landlord's interest in the property is transferred, the subtenant must recognize and attorn to the new landlord or lender. 4. Estoppel Certificate Provision: This provision requires the subtenant to provide an estoppel certificate upon request by the landlord. An estoppel certificate confirms the subtenant's current position, rights, and obligations under the sublease. It helps prevent any misrepresentations or inconsistencies that could arise during the transfer of the property. Including a Virginia Attornment Provision in a sublease protects the interests of all parties involved. It ensures that the subtenant recognizes the landlord's authority and provides a framework for addressing issues that may arise during the term of the sublease. It is essential for both landlords and subtenants to carefully review and negotiate the terms of this provision to avoid any future legal complications.

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.