The Deed of Attornment serves as a critical bridge document in U.S. real estate transactions where property ownership or control changes hands. It becomes necessary when a property is sold, refinanced, or foreclosed upon, ensuring that existing lease arrangements continue under new ownership. This document protects the interests of all parties by formally acknowledging the new landlord-tenant relationship and maintaining the original lease terms. The deed typically includes acknowledgment of the change in ownership, confirmation of lease terms, and may incorporate additional provisions for mortgagee protection.
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1. Parties: Identification of landlord, tenant, and new landlord/mortgagee
2. Background: Context of the original lease and change in property ownership/control
3. Definitions: Key terms including Property, Lease, Attornment, Original Landlord
4. Attornment Covenant: Tenant's agreement to recognize new landlord
5. Confirmation of Lease Terms: Affirmation of existing lease terms
6. Execution: Signature blocks and attestation
1. Non-Disturbance Provisions: Protections for tenant's continued occupancy, used when mortgagee is involved
2. Estoppel Certificates: Tenant's confirmation of lease status, used in financing contexts
3. Subordination Provisions: Tenant's agreement to subordinate lease to mortgage, used in financing
1. Schedule A - Property Description: Legal description of the subject property
2. Schedule B - Original Lease: Copy or summary of the original lease agreement
3. Schedule C - Mortgagee Details: Details of mortgage if applicable
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