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attorn |
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attorn The act of a tenant formally agreeing to become the tenant of a new landlord,but for the same property.Usually occurs when there has been a sale or foreclosure of the leased property.The new owner will want to obtain an attornment in order to cut off defenses and claims the tenant might have against the old landlord,and to prevent the old landlord from muddying the waters by making claims for rent,even though no longer owning the real estate. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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Similarly, an attornment provision should be added, providing that the tenant will attorn to any new owner of the property after a foreclosure, and that the tenant will provide estoppel certificates and minor lease amendments where necessary to satisfy a lender. |
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