Question 1

What is a memorandum of lease?

Accepted Answer

A memorandum of lease (also called a short form lease or notice of lease) is a summary document recorded in the county public records that gives constructive notice that a lease exists on the property. The memorandum includes: the names of the landlord and tenant, a description of the leased property, the lease term (commencement and expiration dates), any renewal options, and a reference to the full lease (which is not recorded). The memorandum does NOT include the full lease terms (such as rent amount, which the parties may want to keep confidential). Purpose: to provide constructive notice to the world that the property is subject to a lease (protecting the tenant’s interest against subsequent purchasers and lien holders), without disclosing the confidential business terms of the full lease.

Question 2

Why would a Florida tenant record a memorandum of lease?

Accepted Answer

Reasons to record: to protect the tenant’s leasehold interest against: subsequent purchasers (a buyer who purchases the property after the memorandum is recorded takes subject to the lease), subsequent lien holders (a lender who records a mortgage after the memorandum takes subject to the lease), and any other parties who acquire an interest in the property. Without recording: the tenant’s lease may not be enforceable against a subsequent purchaser who had no actual notice of the lease (under Florida’s recording statute, unrecorded interests are generally not enforceable against bona fide purchasers for value). Recording is particularly important for: long-term leases (5+ years), commercial leases (where the tenant has significant investment in improvements), and ground leases (where the tenant owns improvements on leased land).

Question 3

What are the Florida recording requirements for a memorandum of lease?

Accepted Answer

Recording requirements: the memorandum must be: in writing, signed by the landlord (and ideally the tenant, though not always required), notarized (acknowledged before a notary public), and recorded in the official records of the county where the property is located. Recording fees: $0 for the first page plus $8.50 for each additional page, plus documentary stamp tax (if the memorandum includes consideration). The memorandum should be recorded promptly after the lease is executed. When the lease expires or is terminated, a release or termination of the memorandum should be recorded to clear the title.

Memorandum of Lease

Memorandum of Lease

Contents

Why Record

Recording

Related Terms

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