This office lease is extremely harsh on the subtenant and grants no non-disturbance rights or any other protections.
Maricopa, Arizona: Understanding the Attornment Provision in a Sublease If you're involved in the real estate market in Maricopa, Arizona, chances are you've come across the term "attornment provision" in a sublease. An attornment provision is an essential legal clause that addresses the relationship between a subtenant and the landlord in the event of a property transfer or foreclosure. It outlines the subtenant's obligation to recognize and adhere to the new landlord's authority, essentially "attorning" or accepting the new landlord as their own. Maricopa, Arizona encompasses a diverse real estate landscape, ranging from residential properties to commercial spaces. Understanding the attornment provision in a sublease is crucial for both subtenants and landlords. This provision is designed to protect the rights and obligations of all parties involved in the lease agreement. Maricopa, Arizona Attornment Provisions in a Sublease: 1. General Attornment Provision: The general attornment provision in a sublease covers the transfer of the property to a new landlord due to a sale or foreclosure. It ensures that the subtenant recognizes and accepts the new landlord as their successor. The provision may include details such as the timing of notice, the required documentation, and the subtenant's agreement to comply with the terms and conditions of the original lease agreement. 2. Non-Disturbance Attornment Provision: A non-disturbance attornment provision protects the subtenant's occupancy rights in the event of a foreclosure. It ensures that the subtenant will not be disturbed by the new landlord and that they can continue occupying the premises without any interference. This provision often requires the new landlord to honor the existing lease terms and preserve the subtenant's right to possess the property. 3. Subordination Clause: While not strictly an attornment provision, a subordination clause may be included in a sublease agreement in Maricopa, Arizona. This clause establishes the priority of interests between a subtenant and any future lenders or parties who may hold a lien on the property. It typically states that the subtenant's rights are subordinate to the rights of the landlord or any other senior interests, providing protection for the landlord's and lender's interests. In summary, Maricopa, Arizona's attornment provisions in a sublease are fundamental in safeguarding the rights of subtenants and maintaining a smooth transition in the event of property transfer or foreclosure. Both subtenants and landlords should ensure that these provisions are carefully drafted and integrated into their sublease agreements to avoid potential disputes and legal complications. Note: This text is written for informational purposes only and is not intended to provide legal advice. For specific guidance and assistance regarding attornment provisions or any sublease-related matters in Maricopa, Arizona, consult with a qualified attorney familiar with local laws and regulations.Maricopa, Arizona: Understanding the Attornment Provision in a Sublease If you're involved in the real estate market in Maricopa, Arizona, chances are you've come across the term "attornment provision" in a sublease. An attornment provision is an essential legal clause that addresses the relationship between a subtenant and the landlord in the event of a property transfer or foreclosure. It outlines the subtenant's obligation to recognize and adhere to the new landlord's authority, essentially "attorning" or accepting the new landlord as their own. Maricopa, Arizona encompasses a diverse real estate landscape, ranging from residential properties to commercial spaces. Understanding the attornment provision in a sublease is crucial for both subtenants and landlords. This provision is designed to protect the rights and obligations of all parties involved in the lease agreement. Maricopa, Arizona Attornment Provisions in a Sublease: 1. General Attornment Provision: The general attornment provision in a sublease covers the transfer of the property to a new landlord due to a sale or foreclosure. It ensures that the subtenant recognizes and accepts the new landlord as their successor. The provision may include details such as the timing of notice, the required documentation, and the subtenant's agreement to comply with the terms and conditions of the original lease agreement. 2. Non-Disturbance Attornment Provision: A non-disturbance attornment provision protects the subtenant's occupancy rights in the event of a foreclosure. It ensures that the subtenant will not be disturbed by the new landlord and that they can continue occupying the premises without any interference. This provision often requires the new landlord to honor the existing lease terms and preserve the subtenant's right to possess the property. 3. Subordination Clause: While not strictly an attornment provision, a subordination clause may be included in a sublease agreement in Maricopa, Arizona. This clause establishes the priority of interests between a subtenant and any future lenders or parties who may hold a lien on the property. It typically states that the subtenant's rights are subordinate to the rights of the landlord or any other senior interests, providing protection for the landlord's and lender's interests. In summary, Maricopa, Arizona's attornment provisions in a sublease are fundamental in safeguarding the rights of subtenants and maintaining a smooth transition in the event of property transfer or foreclosure. Both subtenants and landlords should ensure that these provisions are carefully drafted and integrated into their sublease agreements to avoid potential disputes and legal complications. Note: This text is written for informational purposes only and is not intended to provide legal advice. For specific guidance and assistance regarding attornment provisions or any sublease-related matters in Maricopa, Arizona, consult with a qualified attorney familiar with local laws and regulations.
