Consent to Surface Use by Lessor
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FAQ
What is a Landlord's Consent to Lease Assignment? With a Landlord's Consent to Lease Assignment, landlords and property managers can give formal approval to tenants who wish to exit their lease agreement and transfer it to a new tenant before the rental term is complete.
The lease agreement states the Lessor's right to lease the property derives from the Lessor's ownership in the property, but, the Lessor does not own the property; the Lessor's spouse owns the property, having acquired it decades before the marriage and never added the Lessor as an owner in government records.
In many leases, the tenant grants the landlord a security interest in the property located at the leased premises to secure their lease obligations.This intercreditor agreement is often called a Landlord Consent, a Landlord Waiver, or a Collateral Access Agreement.
Lessor is a participant of the lease who takes possession of the property and provides it as a leasing subject to the lessee for temporary possession. For example, in leasehold estate, the landlord is the lessor and the tenant is the lessee.
