Picture of General Assignment of Rents and Leases | Canada Picture of General Assignment of Rents and Leases | Canada

General Assignment of Rents and Leases | Canada

Before loaning money to a borrower, obtain an assignment of rental and lease income from their rental properties with this downloadable template for Canadian lenders.

  • The borrower assigns to the lender the amount of all rents and leases payable by the tenants in any rental property owned by the borrower.
  • The assignment is given as security for a mortgage loan or other monies being advanced to the borrower by the lender.
  • The tenants will continue to pay the rent to the borrower unless and until the lender gives a written demand for it. This would only happen if the borrower defaults.
  • The lender does not have any liability or obligation under the lease.
  • The Assignment of Rents and Leases can be used in any Canadian province or territory except Quebec.
  • Every commercial loan in Canada should include a General Assignment of Rents and Leases as part of its paperwork. Download the form today.
Document Type: Microsoft Word
Last Updated: 26-October-2024
SKU: 64
$17.99
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