Landlord Lien Waiver Form for the United States

Landlord Lien Waiver Form Template for United States

A Landlord Lien Waiver Form is a legal document used in the United States where a landlord agrees to waive their statutory or contractual rights to place liens on a tenant's personal property, typically in favor of a lender who has provided financing for that property. This document is crucial in commercial financing transactions where a tenant's equipment or inventory serves as collateral for a loan. The form ensures that the lender's security interest takes priority over any potential landlord claims.

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What is a Landlord Lien Waiver Form?

The Landlord Lien Waiver Form is essential in commercial financing situations where tenants require external funding for business equipment or inventory. Under U.S. law, landlords often have statutory or contractual rights to seize tenant property for unpaid rent or other lease violations. However, when tenants seek financing, lenders typically require first-priority security interest in the financed assets. This document resolves this potential conflict by having the landlord formally waive their lien rights, thereby protecting the lender's security interest and facilitating the financing arrangement.

What sections should be included in a Landlord Lien Waiver Form?

1. Identification of Parties: Details of Landlord, Tenant, and Lender/Secured Party

2. Property Description: Specific description of the leased premises

3. Waiver Declaration: Express waiver of landlord's lien rights

4. Lender's Rights: Recognition of lender's security interest and access rights

5. Term of Waiver: Duration and conditions of the lien waiver

What sections are optional to include in a Landlord Lien Waiver Form?

1. Subordination Provisions: Additional provisions regarding priority of interests when there are multiple secured parties or complex priority arrangements

2. Notice Requirements: Procedures for providing notice between parties when specific communication protocols are needed

3. Insurance Requirements: Specific insurance obligations when lender requires specific insurance coverage

What schedules should be included in a Landlord Lien Waiver Form?

1. Property Description Schedule: Detailed legal description of the premises

2. Collateral Schedule: Itemized list of secured personal property/equipment

3. Original Lease Agreement: Copy of the underlying lease agreement

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

United States

Publisher

Genie AI

Document Type

Release of Lien

Cost

Free to use
Industries

Uniform Commercial Code (UCC): Article 9 governs secured transactions, including provisions on lien priority and requirements for perfection of security interests. This is fundamental for understanding the interaction between landlord's rights and other security interests.

State-Specific Landlord-Tenant Laws: Each state has unique laws governing landlord's statutory liens, specific requirements for waiver validity, and distinct recording requirements that must be considered in the waiver form.

Property Laws: Laws governing real property rights and interests, including fixture laws and definitions, and distinctions between real and personal property that affect lien rights.

Bankruptcy Code: Federal bankruptcy laws, particularly Section 365 regarding leases, creditor priority rules, and treatment of security interests in bankruptcy proceedings.

State Contract Laws: Legal requirements for valid contracts including consideration, enforceability requirements, and state-specific signature and notarization requirements.

Commercial Lease Laws: Laws governing rights and obligations of commercial landlords, tenant protections, and provisions regarding defaults and remedies in commercial leasing contexts.

Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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