Wake North Carolina Disposición de pago en un subarrendamiento - Attornment Provision in a Sublease

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

Description

Negociación y Redacción de Arrendamientos de Oficinas The Wake North Carolina Attornment Provision in a Sublease is an essential legal clause that outlines the relationship between the subtenant, sublandlord, and the landlord in a sublease agreement. This provision is crucial to ensuring that all parties involved are aware of their rights and obligations in the event of a dispute or if the landlord terminates the master lease. The Attornment Provision in a Sublease is primarily designed to address the legal concept of attornment, which refers to the act of a tenant recognizing a new landlord as their landlord. In Wake County, North Carolina, there are several types of Attornment Provisions commonly included in sublease agreements, each serving different purposes based on the specific circumstances. 1. Traditional Wake North Carolina Attornment Provision: This clause requires the subtenant to recognize the landlord as their new landlord in the event the master lease is terminated or the landlord transfers the property's ownership. It establishes a direct relationship between the landlord and the subtenant, ensuring that the subtenant will continue to fulfill their lease obligations, such as paying rent or maintaining the premises, even if a change in ownership occurs. 2. Partial Attornment Provision: A partial attornment provision is used when the subtenant agrees to recognize a new landlord only under specific circumstances, such as when the landlord has legally terminated the master lease due to the sublandlord's default or when the landlord acquires the property through foreclosure or other legal means. This provision offers some protection to the subtenant while still acknowledging the landlord's rights. 3. Non-Disturbance Attornment Provision: This provision applies when the sublandlord is a tenant under a master lease with the landlord. It protects the subtenant by ensuring that if the landlord terminates the master lease due to the sublandlord's default, the subtenant's rights will not be adversely affected. It prohibits the landlord from immediately evicting or disrupting the subtenant's occupancy, allowing them a reasonable period to make alternative arrangements. 4. Limited Recourse Attornment Provision: In certain cases, a subtenant may request a limited recourse attornment provision to limit their liability in the event of a default by the sublandlord. This provision ensures that the subtenant's primary obligation is to the sublandlord, not the landlord. However, if the landlord elects to terminate the master lease and seeks to hold the subtenant responsible, the subtenant's liability would be capped at a predetermined amount or specific damages. These different types of Attornment Provisions in a Sublease serve to protect the subtenant's rights and provide clarity in situations where the master lease is terminated or the property's ownership changes hands. It is crucial for all parties involved in a sublease agreement in Wake County, North Carolina, to carefully review and understand the specific attornment provision incorporated into their sublease to ensure a fair and legally binding agreement.

The Wake North Carolina Attornment Provision in a Sublease is an essential legal clause that outlines the relationship between the subtenant, sublandlord, and the landlord in a sublease agreement. This provision is crucial to ensuring that all parties involved are aware of their rights and obligations in the event of a dispute or if the landlord terminates the master lease. The Attornment Provision in a Sublease is primarily designed to address the legal concept of attornment, which refers to the act of a tenant recognizing a new landlord as their landlord. In Wake County, North Carolina, there are several types of Attornment Provisions commonly included in sublease agreements, each serving different purposes based on the specific circumstances. 1. Traditional Wake North Carolina Attornment Provision: This clause requires the subtenant to recognize the landlord as their new landlord in the event the master lease is terminated or the landlord transfers the property's ownership. It establishes a direct relationship between the landlord and the subtenant, ensuring that the subtenant will continue to fulfill their lease obligations, such as paying rent or maintaining the premises, even if a change in ownership occurs. 2. Partial Attornment Provision: A partial attornment provision is used when the subtenant agrees to recognize a new landlord only under specific circumstances, such as when the landlord has legally terminated the master lease due to the sublandlord's default or when the landlord acquires the property through foreclosure or other legal means. This provision offers some protection to the subtenant while still acknowledging the landlord's rights. 3. Non-Disturbance Attornment Provision: This provision applies when the sublandlord is a tenant under a master lease with the landlord. It protects the subtenant by ensuring that if the landlord terminates the master lease due to the sublandlord's default, the subtenant's rights will not be adversely affected. It prohibits the landlord from immediately evicting or disrupting the subtenant's occupancy, allowing them a reasonable period to make alternative arrangements. 4. Limited Recourse Attornment Provision: In certain cases, a subtenant may request a limited recourse attornment provision to limit their liability in the event of a default by the sublandlord. This provision ensures that the subtenant's primary obligation is to the sublandlord, not the landlord. However, if the landlord elects to terminate the master lease and seeks to hold the subtenant responsible, the subtenant's liability would be capped at a predetermined amount or specific damages. These different types of Attornment Provisions in a Sublease serve to protect the subtenant's rights and provide clarity in situations where the master lease is terminated or the property's ownership changes hands. It is crucial for all parties involved in a sublease agreement in Wake County, North Carolina, to carefully review and understand the specific attornment provision incorporated into their sublease to ensure a fair and legally binding 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.