Wyoming Tenant's Subordination (General - to a Lease/Easement)

State:
Multi-State
Control #:
US-OG-1175
Format:
Word; 
Rich Text
Instant download

Description

This form is a general tenant's subordination to a lease or easement.

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FAQ

What is Subordination? Subordination is putting something in a lower position or rank. Therefore, a subordination agreement puts the lease below the mortgage loan in priority. Mortgage lenders want the leases to be subordinate to the mortgage. That way, the mortgage loan is paid first if there is a foreclosure.

Wyoming landlord tenant law does not specify all of the non-emergency reasons to enter a unit, but SDCL § 43-32-32 does specify that ?reasonable notice? must be provided, and that a minimum of 24 hours written notice is considered reasonable.

The Subordination Clause A subordination is a contractual agreement by the tenant that its leasehold interest in the collateral property, or portion thereof (the subject property of the lease), is subordinate either to the mortgage or to the lien of the mortgage.

43-32-13 Modification of lease--Written notice by landlord, effect--Termination by tenant. 43-32-14 Retention of possession by lessee after expiration of hiring--Acceptance of rent by lessor--Renewal of hiring--Terms. 43-32-15 Renewal of hiring of real property presumed unless notice given of termination.

Wyoming Security Deposits Know the rules Landlords will typically charge one month's rent as the security deposit. Wyoming does not require the landlord to deposit the security deposit in a separate account, and there is no requirement for interest to be paid on the deposit. Wyo. Stat.

Advanced Notice: There is no state law in Wyoming requiring landlords to give advance notice before entering a property. Permitted Times: Wyoming state law does not designate any time-of-day restrictions for entering. Emergency Entry: There are no laws in Wyoming regarding emergency entry without notice.

Wyoming rent laws Wyoming does not have rent control laws and prohibits its cities and towns from creating their own laws. This allows landlords to charge any amount of rent and increase rent as often as they choose, as long as it's not during the lease period (unless the lease allows for it).

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Wyoming Tenant's Subordination (General - to a Lease/Easement)