Attornment

Attornment,

Definition of Attornment:

  1. Attornment is most commonly associated with real property laws and is designed to acknowledge the relationship between the parties in a transaction. For example, attornment may occur when a tenant leases an apartment only to have the owner change during the lease. The attornment agreement does not create a new set of rights for the owner unless the tenant signs it. The landlord may be able to use a tenant's refusal to sign as grounds for eviction.

  2. The formal transference of something to someone else.

  3. Attornment occurs when a tenant acknowledges a new owner of the property as their new landlord. In the case of commercial property changing hands, an attornment clause in a subordination, non-disturbance, and attornment (SNDA) agreement requires the tenant to acknowledge a new owner as their landlord and to continue paying rent regardless of whether the property changes hands through a normal sale or a foreclosure.

  4. Expressed or implied consent to a transfer of right, such as where a tenant accepts to be a tenant of a new landlord by continuing to occupy the leased or rented property after its sale.

Synonyms of Attornment

Transfer, Making over, Giving, Passing on, Handing down, Conveyance, Consignment, Alienation

How to use Attornment in a sentence?

  1. Attornment may occur when a tenant leases an apartment the building change hands to a new owner during the course of the lease .
  2. Attornment applies most often to real estate transactions.
  3. The attornment agreement had a lot of things in it that I was not aware of and it made me really confused.
  4. His subsequent procedural failures under Florida law do not invalidate that attornment.
  5. You may want to get an attornment any time you are renting to someone that you have no past relationship with.
  6. Attornment acknowledges the relationship between the parties in a transaction.
  7. The attornment agreement only changes the rights of the new owner if it is signed by the tenant.
  8. I was given my option of attornment in person, but I didnt think my new landlord would be so, odd.

Meaning of Attornment & Attornment Definition