Landlord waiver

Definition

The landlord's consent letting a lender reach collateral on leased premises.

Why It Matters

A landlord has a claim on what sits inside their building when rent goes unpaid, and a lender securing equipment wants that claim waived before funding. The landlord owes the deal nothing, so this signature is a common late surprise: it arrives with the lease assignment, it cannot be forced, and some landlords use the moment to ask for something. Send it early with the assignment paperwork, and tell the lender which one is still out.

In numbers: A lender's checklist asks for a landlord waiver on the $6,500-a-month premises; the landlord signs away the right to seize equipment for unpaid rent, and closing waits eleven days on that one signature.