question First time home rental contract has a weird clause I don’t understand...

[Croc]

“The lessee agrees that this lease is and shall be subject and subordinate to all mortgages now or to be placed on the property. This clause shall be self-operative.”

everything in the contract except that line was clean and understandable. That line seems off, should I be worried before I sign it?

 

[korganian]

I think it means that the lease is only valid while the current owners own the property.

 

[Croc]

I think it means that the lease is only valid while the current owners own the property.

Ah okay, thanks for the quick reply. Just wanted a second opinion to make sure it wasn't something phishy.

 

[Future Sensors]

“The lessee agrees that this lease is and shall be subject and subordinate to all mortgages now or to be placed on the property. This clause shall be self-operative.”

everything in the contract except that line was clean and understandable. That line seems off, should I be worried before I sign it?

Here's more info, https://www.propertyshark.com/mason/text/infopages/Real-Estate-Glossary/subordination-of-lease.html

 

[noneisnone]

Ah okay, thanks for the quick reply. Just wanted a second opinion to make sure it wasn't something phishy.

perhaps asking for legal advice should be done in the real world with real lawyers
anyway good luck with your new home ^^

 

[Croc]

perhaps asking for legal advice should be done in the real world with real lawyers
anyway good luck with your new home ^^

Of course, but this was more of quick one-off question rather than actual advice, right?

 

[noneisnone]

@Crock I guess ^^ just be careful when signing anything without a lawyer looking it over