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Anchorage
Subordination...

Anchorage Alaska Subordination, Non-Disturbance, and Attornment Agreement of a Lease regarding a Commercial Loan

Category:

Loans and Lending

State:

Multi-State

City:

Anchorage

Control #:

US-1176BG

Format:

Word;

Rich Text

Instant download

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Description

The main purpose of this document is to subordinate the lease to the deed of trust or mortgage (if applicable), and have the tenant agree to be bound by the lease to a new owner in the event of foreclosure.

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Interesting Questions

Is this agreement common in commercial leasing in Anchorage?

Absolutely! It’s quite common for commercial leases to include these agreements to keep both the landlord and tenant secure.

What happens if the landlord is in trouble with their loans?

If the landlord runs into trouble, this agreement helps you keep your lease intact even if the property is sold to a new owner.

Can a tenant refuse to sign a Subordination, Non-Disturbance, and Attornment Agreement?

Technically, yes. But if you don't sign, you might risk losing certain protections under the lease if the landlord defaults.

What does Non-Disturbance guarantee?

Non-Disturbance ensures that if the property is sold, you can still stay there as long as you keep playing by the rules of the lease.

How does the Subordination part work?

Subordination means that your lease is ranked lower than the lender's mortgage. So if there's a foreclosure, the lender has the first say.

Why would I need one if I’m a tenant in Anchorage?

If the landlord faces financial trouble and the property gets sold, this agreement helps protect your rights as a tenant.

What is a Subordination, Non-Disturbance, and Attornment Agreement in simple terms?

It's an agreement that keeps things in order when it comes to leases and loans. It ensures that if the property changes hands, you still have a roof over your head.