Commercial Lease - Short Form for Recording Notice of Lease
What this document covers
This Commercial Lease - Short Form for Recording Notice of Lease is a simplified document that outlines the terms of a lease agreement between a lessor and lessee. This form is specifically designed for recording purposes in land records, making it distinct from standard lease agreements. It includes essential details from a longer, comprehensive lease while serving as an official record of the leasing arrangement.
Key parts of this document
- Identification of parties: Lists the names of the lessor and lessee.
- Lease term: Specifies the duration of the lease as referenced in the related long-form lease agreement.
- Property description: Incorporates details about the leased premises in Exhibit A.
- Covenant summary: Mentions that terms from a long-form lease are incorporated by reference.
- Signatures: Spaces for both parties to sign, indicating their agreement to the terms.
When to use this document
This form is utilized when a lessor wants to officially record a short-term lease agreement for commercial property with a lessee. It is particularly useful when the parties agree upon a long-form lease but need a concise record for public access or legal purposes. This form may be necessary for confirming lease terms in disputes or financing scenarios.
Who this form is for
- Property owners (lessors) looking to formalize a lease agreement with a business tenant (lessee).
- Business tenants needing a legal record of their lease for reference or bank requirements.
- Real estate professionals managing commercial properties or leases.
Instructions for completing this form
- Identify the parties by entering the names of the lessor and lessee.
- Specify the premises to be leased by referencing Exhibit A.
- Enter the lease term, including the start and end dates.
- Include any additional terms from the long-form lease as necessary.
- Both parties should sign and date the document for it to be effective.
Notarization requirements for this form
Notarization is required for this form to take effect. Our online notarization service, powered by Notarize, lets you verify and sign documents remotely through an encrypted video session, available 24/7.
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Make edits, fill in missing information, and update formatting in US Legal Forms—just like you would in MS Word.
Download a copy, print it, send it by email, or mail it via USPS—whatever works best for your next step.
Sign and collect signatures with our SignNow integration. Send to multiple recipients, set reminders, and more. Go Premium to unlock E-Sign.
If this form requires notarization, complete it online through a secure video call—no need to meet a notary in person or wait for an appointment.
We protect your documents and personal data by following strict security and privacy standards.
Avoid these common issues
- Failing to complete all required fields, such as the property description or lease term.
- Not signing the document in front of a notary public, if required.
- Neglecting to attach Exhibit A when necessary.
Why complete this form online
- Convenience of downloading and printing the document instantly.
- Easy customization for specific lease details or terms.
- Access to professionally drafted forms prepared by licensed attorneys.
Main things to remember
- This form is ideal for officially recording a commercial lease agreement.
- It condenses critical information for ease of use while referencing a longer lease document.
- Proper completion and notarization are crucial for legal enforceability.
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FAQ
A lease term is a duration of time set out in the lease that designates the minimum amount of time you're expected to remain in the same rental unit. Lease terms can be renewed after the full term is complete, however, there's usually a penalty for terminating a lease before the completion of the full term.
Also known as a memo of lease. A recordable instrument used to put third parties on notice of a lease interest encumbering real property. The memorandum of lease outlines the specific terms of a lease agreement, including:The lease term, including the commencement date and the expiration date.
The address of the property (The landlord may have many properties to manage. The specific date you plan to vacate. The date you plan to surrender the keys. The date you plan to have the utilities turned off. A request for property inspection. A forwarding address.
Commercial landlords with multiple properties, or developments with more than one tenant, are generally loath to disclose to potential tenants the terms of leases into which they have previously entered.
Recording a lease means that it (or a Notice of Lease) is submitted to the public record, usually at the local Registry of Deeds following the signing of it by both parties. Generally, recording of the lease protects the tenant against subsequent claims to the property.
A simple way to put it, the person who signs as an indemnifier or a guarantor is giving their personal guarantee to the landlord that the tenant (a business) will fulfill the obligations of the lease. The most likely person to sign an indemnifier is a company owner or branch owner.
There is no legal requirement that a lease be recorded with the New York City Register. The purpose of recording a lease is to provide notice of the lease to future landlords. If the lease is recorded, the new landlord is bound by the terms of the lease.
The Gross Lease. The gross lease tends to favor the tenant. The Net Lease. The net lease, however, tends to favor the landlord. The Modified Gross Lease.
Rent Review Memorandum Template This Rent Review Memorandum should be used to document the new rent that is agreed after a rent review. The parties should each retain a signed copy which they should attach to their copy of the lease.
