This office lease form states that the landlord has entered into a certain agreement of lease with the tenant as sublessor. The tenant, as sublessor, has entered into a certain sublease agreement with the sublessee. In the event of termination of the lease, the sublessee agrees to attorn to and accept the landlord as its direct landlord under the lease for the balance then remaining of the term of the Lease, and the sublessee shall assume all of the terms and conditions of the Lease, except that sublessee shall have no liability for any defaults of Tenant prior to the date of attornment.
A Kentucky Nondisturbance and Attornment Agreement with a landlord is a legal document that protects a tenant's rights in the event of a foreclosure or transfer of ownership of the leased property. This agreement ensures that the tenant's leasehold interest will be recognized and respected by the new owner or mortgage lender. The Kentucky Nondisturbance and Attornment Agreement establishes a tripartite relationship between the tenant, landlord, and new owner or lender. It typically includes the following essential elements: 1. Nondisturbance: The agreement guarantees that the tenant's leasehold rights will not be disturbed or terminated due to the landlord's default or the foreclosure on the property. This provision ensures the tenant can continue to occupy and enjoy the premises regardless of the change in ownership. 2. Attornment: The tenant agrees to attorn (acknowledge and accept) the new owner or lender as their landlord upon foreclosure or transfer of ownership. This provision allows the new owner or lender to step into the shoes of the original landlord and enforce the terms of the lease with the tenant. 3. Obligations and Benefits: The agreement outlines the tenant's ongoing obligations under the lease, such as rent payment and maintenance responsibilities. It also explains the benefits the tenant can expect to receive, such as the right to quiet enjoyment, reasonable access to the leased premises, and protection against eviction without cause. There are various types of Kentucky Nondisturbance and Attornment Agreement with a landlord, including: 1. Mortgagee Nondisturbance Agreement: This type of agreement is entered into between the tenant and the mortgage lender when the landlord grants a mortgage on the leased property. It ensures that the tenant's leasehold rights won't be affected by the mortgagee's actions in case of default or foreclosure. 2. Subordination, Non-Disturbance, and Attornment Agreement (SODA): This type of agreement is commonly used in commercial leases where there is a lender involved. It establishes the priority of interests among the tenant, landlord, and lender. The subordination clause states that the tenant's rights are subordinate to the lender's rights, but the nondisturbance and attornment clauses protect the tenant in case of foreclosure. 3. Landlord's Nondisturbance Agreement: This agreement is mainly used in leases where the landlord is aware that a third party may acquire an interest in the leased property. It assures the tenant that their lease will be honored by the landlord's successors, including new owners or lenders. In summary, a Kentucky Nondisturbance and Attornment Agreement with a landlord is a crucial protection for tenants in the event of a foreclosure or change in ownership. It ensures continuity of the lease and safeguards the tenant's rights. Various types of agreements exist to address different situations, including mortgagee nondisturbance, SODA, and landlord's nondisturbance agreements.
