Lima, Arizona Overkill Nondisturbance Agreement is a legal document that provides protection to an occupant or tenant during a foreclosure or property change of ownership situation. It is designed to ensure that the rights and interests of the tenant or occupant are not disrupted or disturbed by the actions of the new property owner or the lender who initiates the foreclosure process. With this agreement in place, the tenant or occupant can continue to enjoy the same rights and privileges they had prior to the change in ownership or foreclosure, even if the property is sold or seized by the lender. It guarantees that the new property owner will recognize the tenant's leasehold or occupancy rights and will not disrupt or terminate their tenancy. The Lima, Arizona Overkill Nondisturbance Agreement specifically includes provisions stating that the tenant's lease or occupancy agreements will remain in full force and effect, regardless of any changes or transfers of ownership. It protects the tenant from being evicted or having their lease terminated solely due to the foreclosure process. There may be different types of Lima, Arizona Overkill Nondisturbance Agreements, such as: 1. Residential Nondisturbance Agreement: This type of agreement is specific to residential rental units, protecting tenants living in houses, apartments, or other residential properties from being uprooted due to foreclosure or property ownership transfer. 2. Commercial Nondisturbance Agreement: This agreement is tailored for tenants of commercial spaces, such as retail stores, office buildings, or industrial units, ensuring their tenancy rights are not affected by foreclosure or transfer of property ownership. 3. Multi-unit Nondisturbance Agreement: This type of agreement is designed for tenants residing in multifamily buildings or complexes, where multiple units are involved. It protects the rights of tenants in various apartments or units, assuring their tenancy continues undisturbed. In summary, the Lima, Arizona Overkill Nondisturbance Agreement safeguards the rights of tenants and occupants in Lima, Arizona, during property foreclosures or changes in ownership. It ensures that tenants can remain in their properties without fear of eviction or lease termination, with specific agreements tailored for different types of residential and commercial properties.
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.