New Mexico Agreement of Waiver of Lien of Lessor

• Category: Liens - Construction
• State: Multi-State
• Control #: US-1340723BG
• Format: Word; Rich Text

Description

In the context of a financing, the waiver of a landlord's lien rights to its tenant's personal property that is located at the leased premises. The New Mexico Agreement of Waiver of Lien of Lessor is a legal document that relinquishes the rights of a lessor (the party who owns or leases property to another) to place a lien on the property for any outstanding debts or unpaid rent. This agreement is crucial in commercial real estate leasing transactions and is designed to protect the interests of the lessee (the tenant or occupant of the property). In New Mexico, there are two common types of Agreement of Waiver of Lien of Lessor: 1. Conditional Agreement of Waiver of Lien of Lessor: This type of agreement requires the lessee to fulfill specific conditions, such as making all rental payments on time, maintaining the property, and adhering to the terms of the lease agreement. Once the lessee has fulfilled these conditions, the lessor waives their right to place a lien on the property for outstanding debts or unpaid rent. 2. Unconditional Agreement of Waiver of Lien of Lessor: Unlike the conditional agreement, this type of agreement does not impose any conditions on the lessee. It provides a blanket waiver of the lessor's right to place a lien on the property for any reason, including unpaid debts or rent. This agreement is often used when the lessor trusts the lessee completely and wants to establish a strong and harmonious relationship. The New Mexico Agreement of Waiver of Lien of Lessor can include various relevant terms and keywords, such as: 1. Lien waiver: This clause states that the lessor agrees not to assert or enforce any lien on the property against the lessee for any outstanding debts or unpaid rent. 2. Conditions: In a conditional agreement, specific conditions will be outlined, such as the timely payment of rent, property maintenance, adherence to lease terms, etc. 3. Indemnification: This provision ensures that the lessee indemnifies and holds the lessor harmless against any losses, damages, or claims arising out of the waiver of lien provision. 4. Limitations: The agreement may include limitations on the lessor's waiver, such as non-applicability to future debts, certain types of expenses, or any obligations outside the lease agreement. 5. Enforceability: The document should outline that the agreement complies with all applicable laws in New Mexico and is legally binding on both parties. It is important to note that the specific terms and conditions of the Agreement of Waiver of Lien of Lessor may vary depending on the individual circumstances and negotiations between the lessor and lessee. To ensure accuracy and compliance, it is advisable to consult with a legal professional experienced in real estate matters and New Mexico laws.

The New Mexico Agreement of Waiver of Lien of Lessor is a legal document that relinquishes the rights of a lessor (the party who owns or leases property to another) to place a lien on the property for any outstanding debts or unpaid rent. This agreement is crucial in commercial real estate leasing transactions and is designed to protect the interests of the lessee (the tenant or occupant of the property). In New Mexico, there are two common types of Agreement of Waiver of Lien of Lessor: 1. Conditional Agreement of Waiver of Lien of Lessor: This type of agreement requires the lessee to fulfill specific conditions, such as making all rental payments on time, maintaining the property, and adhering to the terms of the lease agreement. Once the lessee has fulfilled these conditions, the lessor waives their right to place a lien on the property for outstanding debts or unpaid rent. 2. Unconditional Agreement of Waiver of Lien of Lessor: Unlike the conditional agreement, this type of agreement does not impose any conditions on the lessee. It provides a blanket waiver of the lessor's right to place a lien on the property for any reason, including unpaid debts or rent. This agreement is often used when the lessor trusts the lessee completely and wants to establish a strong and harmonious relationship. The New Mexico Agreement of Waiver of Lien of Lessor can include various relevant terms and keywords, such as: 1. Lien waiver: This clause states that the lessor agrees not to assert or enforce any lien on the property against the lessee for any outstanding debts or unpaid rent. 2. Conditions: In a conditional agreement, specific conditions will be outlined, such as the timely payment of rent, property maintenance, adherence to lease terms, etc. 3. Indemnification: This provision ensures that the lessee indemnifies and holds the lessor harmless against any losses, damages, or claims arising out of the waiver of lien provision. 4. Limitations: The agreement may include limitations on the lessor's waiver, such as non-applicability to future debts, certain types of expenses, or any obligations outside the lease agreement. 5. Enforceability: The document should outline that the agreement complies with all applicable laws in New Mexico and is legally binding on both parties. It is important to note that the specific terms and conditions of the Agreement of Waiver of Lien of Lessor may vary depending on the individual circumstances and negotiations between the lessor and lessee. To ensure accuracy and compliance, it is advisable to consult with a legal professional experienced in real estate matters and New Mexico laws.