Mississippi Waiver of Lease Provision by Lessor

• Category: Oil Gas and Minerals - Waivers
• State: Multi-State
• Control #: US-OG-567
• Format: Word; Rich Text

Description

This is a form of a Waiver of Lease Provision (by Lessor). A Mississippi waiver of lease provision by lessor is a contractual agreement between a lessor (landlord) and a lessee (tenant) that waives or eliminates certain provisions within a lease agreement. This provision allows the lessor to give up or relinquish certain rights or obligations stated in the lease. In Mississippi, there are two main types of waiver of lease provisions by the lessor: 1. Waiver of Late Payment Fees: This provision allows the lessor to waive the charges or penalties imposed on the lessee for late rental payments. By including this provision in the lease agreement, the lessor gives up their right to charge the lessee for late payment and agrees not to impose any additional fees. 2. Waiver of Repairs and Maintenance: This provision allows the lessor to waive their responsibility for repairs and maintenance of the leased property. By including this provision in the lease agreement, the lessor is no longer obliged to bear the costs or responsibilities associated with maintaining the property in good condition. The lessee assumes full responsibility for any repairs or maintenance required during the lease period. These waiver provisions are relevant in situations where the lessor wants to provide flexibility or incentives to tenants. For example, by waiving late payment fees, the lessor may attract tenants by offering more leniency and accommodating their financial circumstances. Likewise, by waiving repairs and maintenance responsibilities, the lessor may reduce their overhead costs and shift the responsibility to the tenant. It is essential to note that waiver of lease provisions by the lessor must be clearly outlined in the lease agreement, detailing the specific terms and conditions agreed upon by both parties. This ensures that both the lessor and the lessee have a mutual understanding of the waived provisions and their implications on the lease arrangement. In conclusion, a Mississippi waiver of lease provision by lessor allows the lessor to waive certain rights or obligations stated in the lease agreement. The two main types of waivers are for late payment fees and repairs/maintenance. These provisions can offer flexibility to tenants while reducing costs for the lessor. However, it is crucial for both parties to clearly define and understand the waived provisions within the lease agreement.

A Mississippi waiver of lease provision by lessor is a contractual agreement between a lessor (landlord) and a lessee (tenant) that waives or eliminates certain provisions within a lease agreement. This provision allows the lessor to give up or relinquish certain rights or obligations stated in the lease. In Mississippi, there are two main types of waiver of lease provisions by the lessor: 1. Waiver of Late Payment Fees: This provision allows the lessor to waive the charges or penalties imposed on the lessee for late rental payments. By including this provision in the lease agreement, the lessor gives up their right to charge the lessee for late payment and agrees not to impose any additional fees. 2. Waiver of Repairs and Maintenance: This provision allows the lessor to waive their responsibility for repairs and maintenance of the leased property. By including this provision in the lease agreement, the lessor is no longer obliged to bear the costs or responsibilities associated with maintaining the property in good condition. The lessee assumes full responsibility for any repairs or maintenance required during the lease period. These waiver provisions are relevant in situations where the lessor wants to provide flexibility or incentives to tenants. For example, by waiving late payment fees, the lessor may attract tenants by offering more leniency and accommodating their financial circumstances. Likewise, by waiving repairs and maintenance responsibilities, the lessor may reduce their overhead costs and shift the responsibility to the tenant. It is essential to note that waiver of lease provisions by the lessor must be clearly outlined in the lease agreement, detailing the specific terms and conditions agreed upon by both parties. This ensures that both the lessor and the lessee have a mutual understanding of the waived provisions and their implications on the lease arrangement. In conclusion, a Mississippi waiver of lease provision by lessor allows the lessor to waive certain rights or obligations stated in the lease agreement. The two main types of waivers are for late payment fees and repairs/maintenance. These provisions can offer flexibility to tenants while reducing costs for the lessor. However, it is crucial for both parties to clearly define and understand the waived provisions within the lease agreement.