• Assigning a Lease to a Trust

The instructions and request form to assign a ground lease to a Trust can be found here: Assigning a Lease to a Trust

Upon receipt of the completed request form, Stanford will prepare a document called an Assignment, Assumption, Consent, and Amendment of Lease (AAC&A) to allow a Lessee to transfer leasehold title from the individual Lessee to the trustees of a trust. This document is recorded.  Stanford will work with the Lessee’s attorney if requested to facilitate this transfer. If the name of the trust or the trustee changes at a later date, a new AAC&A must be prepared and recorded to reflect these changes. In the event of any conflict, the lease provisions prevail. This includes requirements of residency and eligibility of ownership.

Note: Please do not prepare and record a grant deed without contacting our office first.

  • Extending a Lease

Stanford will consider a lease extension upon request from the Lessee based on its current policies. Situations which can trigger a lease extension can include: selling a leasehold, a lease term expiration within three years, or a mortgage lender requiring an extended term to approve a mortgage. Since Stanford has been leasing its residential lands for decades, many forms of the Residential Ground Lease are in effect. In general, a lease may be renewed and restated for a maximum term of 51 years under the provisions currently in effect. No extensions are available at Olmsted Terrace.

  • Estoppel Certificate

A mortgage lender may request an Estoppel Certificate, which addresses the current status of a Residential Ground Lease. The instructions and request form can be found here: Request for Estoppel Certificate

  • Other Lease Modifications

In some situations, such as certain changes to spouse/partner status, modifications to an existing lease may be made. 

Please contact Faculty Staff Housing to request any of these actions or if you have questions about your lease.