Document background
The Deed of Attornment is a crucial document in Australian commercial property and financing transactions where there's a change in one of the parties to an existing agreement. It's commonly used when there's a transfer of property ownership, assignment of lease, or change in lending arrangements. The deed ensures that all parties formally acknowledge and consent to the change, maintaining the continuity and enforceability of the original agreement. It must comply with Australian deed execution requirements and typically includes detailed provisions about the nature of the attornment, any conditions precedent, and the ongoing obligations of all parties. The document is particularly important in secured lending arrangements where the security interests need to be preserved despite changes in the underlying relationships.
