Wayne Michigan Attornment Agreement between Lessor and Sublessee of Lessee

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

Description

This form is an attornment agreement between lessor and sublessee of lease. The Wayne, Michigan Attornment Agreement is a legal document that outlines the relationship and obligations between the lessor, sublessee, and lessee in a sublease arrangement. This agreement ensures a smooth transition of rights and responsibilities in the event of a change in ownership or leasing structure. In Wayne, Michigan, there are different types of Attornment Agreements that may be used between the lessor and sublessee of the lessee. Some of these variations include: 1. Standard Attornment Agreement: This is the most common type and outlines the basic terms and conditions of the sublease. It covers important aspects such as rent payment, maintenance responsibilities, and dispute resolution processes. 2. Attornment Agreement with Estoppel Certificate: This agreement includes an additional element known as an estoppel certificate. This document is usually required by lenders or third parties involved in financing. It certifies that the sublessee acknowledges the terms of the sublease and provides information about any existing disputes or defaults. 3. Attornment Agreement with Subordination Clause: In certain situations, the lessor and sublessee may include a subordination clause in the agreement. This clause states that the sublessee's rights and obligations are subordinate to those of the lessor or any future superior interest holders, such as a mortgagee. This ensures that the rights of the superior interest holders take precedence over the sublessee's rights. 4. Attornment Agreement in the Context of an Assignment: If the lessee transfers their entire interest in the lease to a new tenant, an attornment agreement may also be necessary. In this case, the subtenant becomes the new lessee, and they will need to agree to recognize and fulfill the terms of the original lease and any associated agreements. When entering into a Wayne, Michigan Attornment Agreement, it is crucial for both the lessor and sublessee to thoroughly review the terms and seek legal counsel if needed. This agreement provides clarity and protection for all parties involved, ensuring a smooth continuation of the sublease relationship.

The Wayne, Michigan Attornment Agreement is a legal document that outlines the relationship and obligations between the lessor, sublessee, and lessee in a sublease arrangement. This agreement ensures a smooth transition of rights and responsibilities in the event of a change in ownership or leasing structure. In Wayne, Michigan, there are different types of Attornment Agreements that may be used between the lessor and sublessee of the lessee. Some of these variations include: 1. Standard Attornment Agreement: This is the most common type and outlines the basic terms and conditions of the sublease. It covers important aspects such as rent payment, maintenance responsibilities, and dispute resolution processes. 2. Attornment Agreement with Estoppel Certificate: This agreement includes an additional element known as an estoppel certificate. This document is usually required by lenders or third parties involved in financing. It certifies that the sublessee acknowledges the terms of the sublease and provides information about any existing disputes or defaults. 3. Attornment Agreement with Subordination Clause: In certain situations, the lessor and sublessee may include a subordination clause in the agreement. This clause states that the sublessee's rights and obligations are subordinate to those of the lessor or any future superior interest holders, such as a mortgagee. This ensures that the rights of the superior interest holders take precedence over the sublessee's rights. 4. Attornment Agreement in the Context of an Assignment: If the lessee transfers their entire interest in the lease to a new tenant, an attornment agreement may also be necessary. In this case, the subtenant becomes the new lessee, and they will need to agree to recognize and fulfill the terms of the original lease and any associated agreements. When entering into a Wayne, Michigan Attornment Agreement, it is crucial for both the lessor and sublessee to thoroughly review the terms and seek legal counsel if needed. This agreement provides clarity and protection for all parties involved, ensuring a smooth continuation of the sublease relationship.