Collateral Assignment Of Lease

When the leasehold mortgage, UCC-1 or assignment of rents is sent for recording, it becomes first priority.

Any subsequent mortgages or assignments are subordinate to the first lender's.

The terms of your loan are dictated, in large part, by the strength of your collateral.

Typically when you own real estate, the lender will secure it with a mortgage.

A leasehold mortgage is given by a tenant to a lender to secure the tenant's interest in the leased property. For example, a franchise owner leases land from a landlord and builds a fast food restaurant on the premises.

The leasehold mortgage grants the lender a security interest in the building.

For both a leasehold mortgage and assignment of leases, documentation is critical to protecting the lender.

A leasehold mortgage is similar to a standard commercial mortgage document.

An assignment of lease transfers an unexpired lease to someone else, who then takes over the rental payments.

Generally, when someone wants to purchase a property, that property is financed using a mortgage.

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