A New York General Nondisturbance Agreement (GND) is a legal contract that aims to protect the rights of tenants in the event of a foreclosure or any other change in ownership or possession of a property. This agreement is typically entered into between a tenant (the "lessee"), the landlord (the "lessor"), and a lender or a third-party purchaser (the "mortgagee" or "buyer"). The purpose of a GND is to ensure that the tenant's lease and occupancy rights will not be disturbed or terminated due to any actions taken by the lender or buyer, such as foreclosure proceedings. It provides an added layer of protection to tenants, giving them confidence to continue their business operations or reside in the premises without fear of sudden eviction or disruption. A typical New York GND outlines various terms and conditions, including the requirement that the lender or buyer will recognize and respect the tenant's lease, and that they will honor all lease provisions. The agreement also specifies that the lender or buyer will not interfere with the tenant's use of the property and will not treat the lease as subordinate to their interests. In New York, there are generally two types of GND: 1. Single-Tenant GND: This type of agreement is applicable when there is only one tenant occupying the property. It focuses solely on protecting the rights and interests of that particular tenant. 2. Multi-Tenant GND: This agreement is designed for properties with multiple tenants. It includes provisions that address the rights and interests of each tenant individually, ensuring that all tenants are protected in the event of a foreclosure or change in ownership. The New York General Nondisturbance Agreement is a critical document that provides valuable safeguards to tenants, granting them security and peace of mind in uncertain times. It establishes a contractual relationship between tenants, landlords, and lenders/buyers, creating stability and continuity in leasehold interests.
Para su conveniencia, debajo del texto en español le brindamos la versión completa de este formulario en inglés. For your convenience, the complete English version of this form is attached below the Spanish version.New York Acuerdo General de No Perturbación - General Nondisturbance Agreement
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