Texas Memorandum of Option to Lease (For Radio Tower and Communications Equipment)
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How to fill out Memorandum Of Option To Lease (For Radio Tower And Communications Equipment)?
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FAQ
Recording: Sec. 5.021, Texas Property Code, any lease exceeding more than one year must be recorded in the same manner as a deed of conveyance in order to be valid against third parties without notice. Leases must be filed for record in the county in which the lease property is located.
The purpose of this document is simple ? memoranda of lease are prepared, signed, and recorded against the landlord in the register of deeds of the county where the leased premises are located to protect your rights as a tenant.
Do Lease Agreements Need to Be Notarized in Texas? No, Texas Lease Agreements do not need to be notarized. They just need to be signed by the Tenant and Landlord.
If the tenant is granted rights under the lease that are enforceable against third parties (and not just the landlord), or for which third parties should be aware, a recorded memorandum of the lease describing those rights should be recorded to best protect the tenant as to those rights.
Please note that a lease agreement longer than one year must be in writing. A lease is essentially a contract between a landlord and a tenant. As with any contract, both parties have the right to negotiate the terms before entering into it.
There are five essential elements of a valid lease: offer, acceptance, mutual assent, execution and delivery, and consideration. In addition, the Texas Property Code imposes certain default requirements on landlords and tenants if a lease does not make its own provisions.
Generally, recording of the lease protects the tenant against subsequent claims to the property. If the Landowner dies or sells the property during the lease term, a recorded lease helps ensure that the new owner adheres to the lease agreement (if that is specifically stated in the lease).