In New York, a covenant of further assurance is a contract between an owner and tenant that obligates the owner to perform certain acts in order to give the tenant more security. It is sometimes referred to as a “covenant for quiet enjoyment” or “covenant for continued possession.” To learn more about a covenant of further assurance, contact MacGregor Abstract.
The covenant for quiet enjoyment does not apply to commercial leases. For more information on covenants for quiet enjoyment in commercial leases, see Nolo’s article Covenants for Quiet Enjoyment in Commercial Leases: What Landlords Need to Know.
What Does a Covenant of Further Assurance Do?
A covenant of further
assurance gives tenants additional rights against landlords who breach a lease or other agreement by failing to make repairs or perform other services required under the agreement. A covenant of further assurance can also be used as protection against harassment by landlords or other tenants who are trying to force you out of your apartment or rental home.
The covenant of further assurance is a contract between a landlord and tenant that obligates the tenant to pay for any improvements made to a property by the landlord during the term of the lease. In New York, this covenant is implied by law and is not written or verbal. It applies to all leases, so long as the lease term has not ended.
The covenant of further assurance protects landlords who invest in repairs or renovations to their property during the lease term. It also protects tenants who do not want to be responsible for paying for these improvements after they move out.
The covenant of further assurance is implied by law, meaning it does not need to be written into your lease or rental agreement and is automatically assumed unless otherwise stated. The landlord must inform you if he intends to make any improvements or alterations before he does so; these alterations become part of the rental agreement once signed by both parties.
A covenant of further assurance is a contract that may be used to protect an interest in real property. A covenant of further assurance is essentially a form of security. It is used when a lender needs more assurance from the borrower that he will not transfer or encumber his interest in the property without consent from the lender.
A covenant of further assurance does not transfer title to the property; it only gives the lender an additional layer of protection. A borrower can still sell their home or refinance their mortgage, but they must get permission from their lender before doing so. The lender may require this as a condition of financing unless there are other considerations such as an existing first mortgage or second mortgage on the property.
This type of document can be useful if you want to sell your home without consent from your lender because it helps ensure that no one else will take out loans against your property without permission from them first. It also protects you from being sued by someone else who might have incurred debt against your home without your consent.