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.