Novation To Existing Agreement

[iKwak]

What is the name of your state? CA


When you acquire a new IP with an existing lessee with an existing lease agreement, can the lessor provide a novation of the lease agreement with new clauses on the agreement?

For instance, there are 20 clauses/terms in the agreement and the lessor wants to add 5 more critical terms to the agreement with the existing tenant.


Would the lessor's broker/firm compose a newly composed agreement with the same terms (such as monthly lease, # of years leased, and other essential terms) and add the new terms to the agreement?


Thank you in advance.

 

[seniorjudge]

What is the name of your state? CA


When you acquire a new IP with an existing lessee with an existing lease agreement, can the lessor provide a novation of the lease agreement with new clauses on the agreement?

For instance, there are 20 clauses/terms in the agreement and the lessor wants to add 5 more critical terms to the agreement with the existing tenant.


Would the lessor's broker/firm compose a newly composed agreement with the same terms (such as monthly lease, # of years leased, and other essential terms) and add the new terms to the agreement?


Thank you in advance.

It is better for a whole new agreement to be drawn up.

Novation refers to substituting one party for another; but what you are describing is a whole new contract.

 

[HomeGuru]

What is the name of your state? CA


When you acquire a new IP with an existing lessee with an existing lease agreement, can the lessor provide a novation of the lease agreement with new clauses on the agreement?

For instance, there are 20 clauses/terms in the agreement and the lessor wants to add 5 more critical terms to the agreement with the existing tenant.


Would the lessor's broker/firm compose a newly composed agreement with the same terms (such as monthly lease, # of years leased, and other essential terms) and add the new terms to the agreement?


Thank you in advance.

**A: is the tenant going to agree to the 5 more clauses?