Broward County, Florida Subordination and Attornment Agreement Landlordor— - Tenant - Lender is a legal document that outlines the relationship and agreements between the landlord, tenant, and lender in Broward County, Florida. This agreement serves to establish the rights and responsibilities of all parties involved in a landlord-tenant relationship when there is a third-party lender involved. A subordination and attornment agreement is commonly used in commercial real estate transactions where a tenant is operating a business on a property that is subject to a mortgage or loan held by a lender. This agreement allows the lender to prioritize their interest in the property over the tenant's right to occupy the premises in case of default or foreclosure. There are a few different types of Broward County, Florida Subordination and Attornment Agreements that may be used depending on the specific circumstances: 1. Commercial Subordination and Attornment Agreement: This type of agreement is typically utilized in commercial real estate transactions, such as retail shops, office spaces, or warehouses. It clarifies the relationship between the landlord, tenant, and lender in terms of lease payments, default remedies, and subordination of rights. 2. Subordination, Non-Disturbance and Attornment (SODA) Agreement: This agreement is a more comprehensive version of the subordination and attornment agreement. It includes the non-disturbance clause which ensures that the tenant's rights remain intact even in the event of the landlord's default or foreclosure. It provides the tenant with protection against losing their leasehold interest in case the property ownership changes hands. 3. Residential Subordination and Attornment Agreement: This type of agreement is specifically designed for residential properties, such as apartment buildings or single-family homes, where there is a separate lender involved. It addresses the terms of subordination and attornment but is tailored to the specific needs and rights of residential tenants. In Broward County, Florida, the Subordination and Attornment Agreement Landlordor— - Tenant - Lender is a crucial legal document that protects the interests of all parties involved in a commercial or residential lease when there is a mortgage or loan in place. It ensures that in the event of default or foreclosure, the lender can enforce their rights while safeguarding the rights and occupancy of the tenant.
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.