Download Kansas Assignment of Leases and Rents Legal Forms
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Kansas Assignment of Leases and Rents Overview
When a loan is given on property that has rental income, an assignment of leases and rents is often used to protect the lender in the case of default. This form allows the lender to collect rents and other sums due under leases, authorizes lessees to pay the lender, allows lender to take possession of property at lenders option, etc. Without an "Assignment of Leases and Rents" borrowers in default could collect rents while not making payments to the lender and for this reason, borrowers will use it to induce lenders to make a loan.
(Kansas Assignment of Leases and Rents Package includes form, guidelines, and completed example) For use in Kansas only.