Memorandum of Lease
(NC)

Summary

This memorandum of lease template may be used to record the material terms of an North Carolina lease of commercial real estate. This template includes practical guidance, drafting notes, and alternate and optional clauses. This memorandum of lease, sometimes also called a notice of lease, is intended for use with commercial retail or office space located in or on North Carolina real property. In order to be valid against a purchaser for value or a lien creditor, leases with a term of more than three years must be recorded (or have a memorandum of lease recorded) in the county where the land is located. N.C. Gen. Stat. § 47-18(a). Registration of a memorandum of lease is deemed the same as if the lease had been recorded in its entirety. N.C. Gen. Stat. § 47-118(c). For a retail lease agreement that may be used to lease space in a mixed-use building, shopping center, or standalone property located in North Carolina, see Retail Lease Agreement (Long Form) (NC). For more information on leasing commercial real estate in North Carolina, see Commercial Real Estate Leasing (NC). For a general discussion of a memorandum of lease, see Closing a Retail Lease Transaction — Memorandum of Lease and Closing an Office Lease Transaction — Memorandum of Lease.