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Yes, it's pretty standard around here. Most subleases in Memphis will include this provision to keep things clear and friendly between landlords and tenants.
It helps to secure your rights. With an attornment provision in place, you know that your agreement with the original landlord is still valid, even if the ownership changes hands.
Typically, a new landlord can’t just change the terms overnight. Your existing terms should remain in effect, but it’s always good to check the specifics in your agreement.
If there's no attornment provision, things can get sticky. If the property is sold, tenants might find themselves in a tough spot, as they may not recognize the new landlord.
Yes, usually you will sign the sublease agreement, which includes the attornment provision. It’s like giving a thumbs up to the new landlord.
In Memphis, it's important because it protects everyone involved. It ensures that tenants continue to have their rights and responsibilities even if there's a change in who owns the property.
An attornment provision is like an agreement between the tenant and the new landlord. It states that if the original landlord sells the property or transfers their rights, the tenant will acknowledge and accept the new landlord as the new boss.