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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.
Bakersfield California Subordination, Non-Disturbance, and Attornment Agreement of a Lease regarding a Commercial Loan Related Searches
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Interesting Questions
If they won’t sign, it could put you in a tough spot. It's best to have a frank discussion to understand their concerns so you can protect your interests.
Absolutely! Just like any contract, you can discuss the terms with your landlord and lender to ensure it works well for everyone involved.
Not really! Attornment just means that if the property is sold, you're agreeing to recognize the new owner as your landlord. It's typically smooth sailing for tenants.
Non-disturbance ensures that even if the property changes hands, you can stay put as long as you follow the lease terms—no interruptions in your business!
Subordination means that your lease is below the lender's rights; if the property is foreclosed, the lender gets to reclaim control before you do.
If you're renting a commercial space and the property gets sold, a SNDA helps keep your lease intact, so you don't have to pack up and leave just because there's a new owner.
It's a legal agreement that sets the rules between landlords and tenants when a property changes ownership, ensuring the tenant's rights remain protected.
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Bakersfield California Subordination, Non-Disturbance, and Attornment Agreement of a Lease regarding a Commercial Loan