Transfer an existing lease to a new owner of the property with this Assignment of Lease by Landlord form for Newfoundland and Labrador.
The Assignment is between the seller (current landlord), the purchaser of the property (new landlord), and the tenant, and is part of the documentation required to complete the sale of the rental premises.
The tenant covenants to pay rent to the new landlord and continue to perform the tenant's obligations under the lease.
The purchaser and seller agree to indemnify each other against any claims or actions arising out of any breach of the terms of the assignment.
The Assignment form can be used for both commercial and residential rental properties.
This Newfoundland Assignment of Lease by Landlord form is available as a MS Word download.
Newfoundland commercial landlords, if you are mortgaging a commercial building, give your tenants a measure of comfort by having the mortgagee sign this Nondisturbance Agreement.
The mortgage lender agrees that, in the event the landlord defaults on the mortgage and the property is foreclosed upon, the tenant shall continue to occupy the premises undisturbed, provided that the tenant is not in default under the lease.
This Newfoundland and Labrador Nondisturbance Agreement is provided in MS Word format, and is fully editable to meet your specific circumstances.