This office lease form states that in the event of a mortgage foreclosure, or termination of any interest which is superior to the lease, the lease shall continue as a lease between the landlord's successors as Lessor and the tenant as lessee with the same force and effect as the originally entered into the lease and the tenant shall be permitted to remain in undisturbed possession, use and occupancy of the premises, provided that the tenant is not in default under the lease after the giving of notice and the expiration of the applicable grace or cure period as provided in the lease.
Wyoming General Nondisturbance Agreement
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Multi-State
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US-OL20034B
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The lives selected to govern the time of vesting must not be so numerous nor so situated that evidence of their deaths is likely to be unreasonably difficult to obtain. It is intended by this subsection to make effective in this state the American common-law rule against perpetuities for interests in real property.
(c) Any person who violates any of the provisions of subsection (a) or (b) of this section is guilty of endangering a child punishable by imprisonment for not more than five (5) years, a fine of not more than five thousand dollars ($5,000.00), or both.
Section 34-1-152 - Ownership of Pore Space Underlying Surfaces. 34-1-152. Ownership of pore space underlying surfaces. (a) The ownership of all pore space in all strata below the surface lands and waters of this state is declared to be vested in the several owners of the surface above the strata.
The Rule acts to void any agreement which does not conclude 21 years after a life in being or one generation after those lives presently in being, plus 21 years. Because the Rule Against Perpetuities is state law, states have the option of relaxing or eliminating its constraints.
A nondisturbance clause is a provision in a mortgage contract that ensures that a rental agreement between the tenant and the landlord will continue under any circumstances. This is done primarily to protect the renter from eviction by the mortgagor if the property is foreclosed upon by the lender.
(a) When a deed, contract or other document transferring legal or equitable title to real property, including instruments conveying ownership of structures on lands not owned by the transferring party, is presented to a county clerk for recording, the instrument shall be accompanied by a statement under oath by the ...
No written response from tenant - the property is deemed abandoned if the landlord does not get a written response from the tenant within the seven day period. The landlord can then retain or dispose of the property.