New York 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). The New York Waiver of Lease Provision by Lessor is an essential legal concept that both landlords and tenants in the state of New York should understand. This provision refers to the act of a lessor (landlord) waiving their rights or restrictions specified in a lease agreement. It grants certain freedoms or exceptions to the lessee (tenant) concerning the terms and conditions of their lease. In New York, there are different types of waivers of lease provisions that the lessor can include in the lease agreement to address specific concerns or situations. Some key types include: 1. Rent Waiver: This provision allows the lessor to waive or reduce the rent for a specified period, typically in cases where the property requires repairs or renovations that temporarily hinder its habitability. 2. Delay in Performance Waiver: This provision allows the lessor to waive any penalties or consequences for delayed performance related to the property or the lease terms. It provides flexibility to both parties in case unforeseen circumstances occur. 3. Maintenance Waiver: With this provision, the lessor waives their responsibility for certain maintenance tasks, typically placing the responsibility on the tenant instead. The specifics should be clearly outlined to avoid any misunderstandings. 4. Alteration Waiver: This provision allows the tenant to make alterations or improvements to the leased property without seeking prior consent from the lessor. It outlines the conditions and guidelines under which such alterations can occur. 5. Notice Waiver: This waiver provision eliminates the requirement of giving written notice for certain actions between the lessor and the tenant. For example, it could waive the need for written notice when ending the lease agreement, renewing the lease, or making minor changes to the lease. 6. Liability Waiver: This provision absolves the lessor from any liability or responsibility for accidents, damages, or losses that may occur on the leased property. It establishes that the tenant assumes full responsibility for their actions and any resulting consequences. It is important for both parties to carefully review and understand the implications of these waiver provisions before entering into a lease agreement. Seeking legal advice or assistance is recommended to ensure that the rights and obligations of both the lessor and the lessee are properly protected and understood.

The New York Waiver of Lease Provision by Lessor is an essential legal concept that both landlords and tenants in the state of New York should understand. This provision refers to the act of a lessor (landlord) waiving their rights or restrictions specified in a lease agreement. It grants certain freedoms or exceptions to the lessee (tenant) concerning the terms and conditions of their lease. In New York, there are different types of waivers of lease provisions that the lessor can include in the lease agreement to address specific concerns or situations. Some key types include: 1. Rent Waiver: This provision allows the lessor to waive or reduce the rent for a specified period, typically in cases where the property requires repairs or renovations that temporarily hinder its habitability. 2. Delay in Performance Waiver: This provision allows the lessor to waive any penalties or consequences for delayed performance related to the property or the lease terms. It provides flexibility to both parties in case unforeseen circumstances occur. 3. Maintenance Waiver: With this provision, the lessor waives their responsibility for certain maintenance tasks, typically placing the responsibility on the tenant instead. The specifics should be clearly outlined to avoid any misunderstandings. 4. Alteration Waiver: This provision allows the tenant to make alterations or improvements to the leased property without seeking prior consent from the lessor. It outlines the conditions and guidelines under which such alterations can occur. 5. Notice Waiver: This waiver provision eliminates the requirement of giving written notice for certain actions between the lessor and the tenant. For example, it could waive the need for written notice when ending the lease agreement, renewing the lease, or making minor changes to the lease. 6. Liability Waiver: This provision absolves the lessor from any liability or responsibility for accidents, damages, or losses that may occur on the leased property. It establishes that the tenant assumes full responsibility for their actions and any resulting consequences. It is important for both parties to carefully review and understand the implications of these waiver provisions before entering into a lease agreement. Seeking legal advice or assistance is recommended to ensure that the rights and obligations of both the lessor and the lessee are properly protected and understood.