Ontario General Assignment of Rents Ontario General Assignment of Rents

Ontario General Assignment of Rents

This General Assignment of Rents template gives lenders in Ontario a means of additional security for the repayment of a corporate borrower's debt.

Assignment of Rents, Income, and Revenue

Under the terms of this Assignment, the borrower (debtor) assigns to the lender all rents, income, and revenue generated from a mortgaged property. This assignment acts as security for a loan or line of credit that the lender is advancing to the borrower.

Borrower’s Restrictions and Continuing Rights

The borrower agrees not to accept prepayment of the rents. Furthermore, the borrower cannot further assign or encumber the rents or the leases in any way. However, unless the borrower is in default under the Assignment, they may continue to collect the rents as usual.

Default and Lender’s Remedies

If the borrower defaults under the terms of the Assignment, any rents must be paid directly to the lender. At this point, the lender has the right to enter the mortgaged property, collect the rent, enforce the terms of the lease, or maintain the property as necessary.

Additional Information

This template is available in Microsoft Word format and is intended solely for use within the Province of Ontario, Canada.

Document Type: Microsoft Word
Last Updated: 05-October-2025
SKU: 5244
$17.99
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