Memorandum of Lease

Also known as a memo of lease. A recordable instrument used to put third parties on notice of a lease interest encumbering real property.

The memorandum of lease outlines the specific terms of a lease agreement, including:

  • The names and addresses of the parties.

  • A description of the leased premises.

  • The lease term, including the commencement date and the expiration date.

  • A description of any options, such as an extension option or a purchase option.

Usually, the monetary terms of a lease, such as the rent or security deposit, are not included in a memorandum of lease.

State and local laws provide information about what should be included in a memorandum of lease to make it effective and recordable.

A memorandum of lease is recorded in the recorder's office of the county where the leased premises are located.

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