Sample Proprietary Lease For Co-op

• Category: Corporations - Cooperatives
• State: Multi-State
• Control #: US-03491BG
• Format: Word; Rich Text

Description

The Sample Proprietary Lease for Co-op serves as a legal document that formalizes the transfer of lease rights from one party, the Assignor, to another, the Assignee. This form outlines essential information, including the names and addresses of both parties, the lease's effective date, and the terms concerning the assigned premises. Key features include the requirement for the Assignee to assume responsibility for all obligations under the lease and a clause ensuring that assignments are only valid with the Corporation's approval. Filling instructions emphasize the need for accurate completion of all sections to prevent delays or rejections. The form must be signed by all relevant parties, including a witness and a notary public, to validate the agreement. Attorneys, partners, owners, associates, paralegals, and legal assistants will find this document beneficial when managing lease assignments in cooperative housing environments. It aids in ensuring compliance with the lease's terms and provides a clear framework for responsibilities and expectations among parties involved in the transaction.