Puerto Rico Attornment Agreement between Lessor and Sublessee of Lessee

• Category: Landlord Tenant - Subordination
• State: Multi-State
• Control #: US-0187BG
• Format: Word; Rich Text

Description

This form is an attornment agreement between lessor and sublessee of lease. Puerto Rico Attornment Agreement between Lessor and Sublessee of Lessee: In Puerto Rico, an attornment agreement between a lessor and sublessee of a lessee is a legally binding document that outlines the terms and conditions of a sublease relationship. This agreement ensures a smooth transition of the sublease in the event of a change in ownership or if the property is sold. Keywords: Puerto Rico, attornment agreement, lessor, sublessee, lessee, sublease relationship, change in ownership, property sale. Types of Puerto Rico Attornment Agreement between Lessor and Sublessee of Lessee: 1. Standard Attornment Agreement: This is the most common type of attornment agreement used in Puerto Rico. It establishes the obligations and rights of the sublessee in relation to the lessor, and ensures that the sublessee attorns to the new owner or landlord if the property is sold or ownership changes. 2. Non-Disturbance Attornment Agreement: This type of attornment agreement provides additional protection to the sublessee by ensuring that their rights and lease terms are not affected even in the event of foreclosure or forced sale of the property. 3. Subordination Attornment Agreement: It is a type of attornment agreement that establishes the priority of the lease agreement between the lessee and sublessee over any existing or future mortgages or liens on the property. This ensures that the sublessee's rights are protected, and they can continue their lease despite any financial claims on the property. 4. Estoppel Certificate Attornment Agreement: This agreement is commonly required by lenders or potential buyers of the property. It is a statement signed by the sublessee confirming the validity, duration, and terms of the sublease. It also verifies that there are no outstanding issues or disputes between the lessee and sublessee. 5. Assignment and Assumption Attornment Agreement: This type of attornment agreement is relevant when the original lessee transfers their lease rights to a new lessee, who then subleases the property. It ensures that the sublessee recognizes the new lessee as their landlord and agrees to attorn to them in case of any changes in ownership or sale of the property. These various types of attornment agreements provide clarity and protection for both the lessor and sublessee, ensuring a smooth and legally compliant sublease arrangement in Puerto Rico.

Puerto Rico Attornment Agreement between Lessor and Sublessee of Lessee: In Puerto Rico, an attornment agreement between a lessor and sublessee of a lessee is a legally binding document that outlines the terms and conditions of a sublease relationship. This agreement ensures a smooth transition of the sublease in the event of a change in ownership or if the property is sold. Keywords: Puerto Rico, attornment agreement, lessor, sublessee, lessee, sublease relationship, change in ownership, property sale. Types of Puerto Rico Attornment Agreement between Lessor and Sublessee of Lessee: 1. Standard Attornment Agreement: This is the most common type of attornment agreement used in Puerto Rico. It establishes the obligations and rights of the sublessee in relation to the lessor, and ensures that the sublessee attorns to the new owner or landlord if the property is sold or ownership changes. 2. Non-Disturbance Attornment Agreement: This type of attornment agreement provides additional protection to the sublessee by ensuring that their rights and lease terms are not affected even in the event of foreclosure or forced sale of the property. 3. Subordination Attornment Agreement: It is a type of attornment agreement that establishes the priority of the lease agreement between the lessee and sublessee over any existing or future mortgages or liens on the property. This ensures that the sublessee's rights are protected, and they can continue their lease despite any financial claims on the property. 4. Estoppel Certificate Attornment Agreement: This agreement is commonly required by lenders or potential buyers of the property. It is a statement signed by the sublessee confirming the validity, duration, and terms of the sublease. It also verifies that there are no outstanding issues or disputes between the lessee and sublessee. 5. Assignment and Assumption Attornment Agreement: This type of attornment agreement is relevant when the original lessee transfers their lease rights to a new lessee, who then subleases the property. It ensures that the sublessee recognizes the new lessee as their landlord and agrees to attorn to them in case of any changes in ownership or sale of the property. These various types of attornment agreements provide clarity and protection for both the lessor and sublessee, ensuring a smooth and legally compliant sublease arrangement in Puerto Rico.