This office lease form shall be subject and subordinate to all present and future ground leases, overriding leases or underlying leases and/or grants of term of the Land and/or the building or the portion thereof in which the Demised Premises are located. This Section shall be self-operative and no further instrument of subordination shall be required. This form also states that the landlord and the tenant agree to share equally all costs incurred in connection with obtaining any Non-disturbance Agreement from the existing superior lessors or superior mortgagees.
Michigan Nondisturbance Provision — Tenant Friendly Michigan Nondisturbance Provision is a legal stipulation that is designed to protect tenants in the state of Michigan from facing any disruptions or eviction proceedings in the event of a foreclosure or sale of the property they are leasing. It ensures that tenants can continue to occupy and enjoy their leased premises without any interference from new property owners or creditors. The Michigan Nondisturbance Provision serves as an essential safeguard, providing peace of mind to tenants by ensuring their rights are protected during a foreclosure situation. It imposes certain obligations and restrictions on both the landlord and the new property owner to ensure that the tenant's lease remains valid and enforceable, and their tenancy remains undisturbed. The primary purpose of the Michigan Nondisturbance Provision is to protect tenants' rights and maintain the stability of their lease agreements amidst changing property ownership circumstances. It is especially crucial in situations where the landlord defaults on their mortgage or sells the property, potentially subjecting the tenants to displacement or eviction. Some key components of the Michigan Nondisturbance Provision — Tenant Friendly include: 1. Continuation of the lease: The provision ensures that the tenant's lease remains valid and intact, regardless of any change in property ownership. The new owner is required to honor the lease agreement and cannot terminate it solely due to a foreclosure or sale. 2. Notice requirements: The provision typically necessitates that the landlord or the new owner provides written notice to the tenant about any pending foreclosure, sale, or change in ownership. This ensures transparency and allows the tenant to prepare accordingly. 3. Termination restrictions: The provision restricts the new owner's ability to terminate the tenant's lease abruptly. It often specifies certain permissible grounds for eviction, such as nonpayment of rent or violation of lease terms. 4. Redemption rights: In cases where the property is subject to foreclosure, the Michigan Nondisturbance Provision may grant the tenant specific rights to redeem the property or continue their tenancy if they can meet certain conditions, such as paying any outstanding rent or fees. Different types of Michigan Nondisturbance Provisions may exist, depending on the lease terms, the specific property, and the nature of the tenancy. Some possible variations could include variations in notice periods, differing conditions for tenant redemption, or specific restrictions on the new owner's ability to alter lease terms. In conclusion, the Michigan Nondisturbance Provision — Tenant Friendly is a crucial legal protection for tenants in Michigan, ensuring their uninterrupted occupancy and safeguarding their lease agreements during foreclosure or property sale situations. It establishes rights and obligations for both landlords and new property owners, providing security and stability to tenants in an uncertain real estate landscape.
