Attornment Meaning Legal Context & Example Legal Terms Simplified @LawMint скачать в хорошем качестве

Attornment Meaning Legal Context & Example Legal Terms Simplified @LawMint

Attornment Attornment means to acknowledge a new landlord or owner of a property. In a legal sense, "attornment" most commonly arises in property law and refers to a tenant formally acknowledging a new owner as their landlord, when the property changes hands. This act creates a direct legal relationship between the current tenant and the new owner, obligating the tenant to pay rent and adhere to the lease terms with the new landlord. Attornment ensures the continuity of the lease agreement despite changes in property ownership, protecting the rights and obligations of both the current tenant and the new owner. For example, if a building with rented apartments is sold to a new owner, an attornment agreement might be signed by the tenants. This agreement confirms that the tenants recognize the new owner as their landlord, and will continue to pay rent to the new landlord under the existing lease terms. Meaning Legal Context & Example Legal Terms Simplified @lawmint