This office lease form states that the landlord has entered into a certain agreement of lease with the tenant as sublessor. The tenant, as sublessor, has entered into a certain sublease agreement with the sublessee. In the event of termination of the lease, the sublessee agrees to attorn to and accept the landlord as its direct landlord under the lease for the balance then remaining of the term of the Lease, and the sublessee shall assume all of the terms and conditions of the Lease, except that sublessee shall have no liability for any defaults of Tenant prior to the date of attornment.
A Minnesota Nondisturbance and Attornment Agreement with a landlord is a legal contract that offers protection to tenants in the event of a foreclosure on the property they are occupying. This agreement establishes a binding relationship between the tenant and the lender or new property owner, ensuring that the tenant's rights to lease occupancy are upheld despite a change in ownership or property transfer. The main purpose of a Minnesota Nondisturbance and Attornment Agreement is to safeguard the tenant's leasehold interest when the property is subjected to foreclosure or sold. This agreement assures the tenant that they will not face immediate eviction or termination of their lease in case of such circumstances, granting them stability and security during uncertain times. In a typical agreement, it is essential to include the following key components: 1. "Nondisturbance" clause: This clause ensures that the tenant's rights and lease terms will remain intact after a change in ownership or foreclosure. It guarantees that the new owner or lender will respect and honor the existing lease agreement. 2. "Attornment" clause: This clause requires the tenant to recognize the new property owner or lender as their landlord and to attorn to them. Attornment is a legal term indicating that the tenant accepts the new owner or lender as their landlord and agrees to fulfill their obligations under the lease with the new party. By signing the Nondisturbance and Attornment Agreement, the tenant safeguards their interests in the property even if the landlord defaults on their mortgage or sells the property. This protection ensures that the tenant's occupancy rights are not jeopardized during the foreclosure process or subsequent property transfer. It is also important to note that there may be different types or variations of Nondisturbance and Attornment Agreements specific to Minnesota, depending on various factors such as the complexity of the lease terms, size of the property, or the type of lender involved. However, the fundamental purpose remains the same: to protect the tenant's rights and maintain the integrity of their lease in the face of ownership changes or foreclosure proceedings. In summary, a Minnesota Nondisturbance and Attornment Agreement with a landlord is a crucial legal contract that provides tenants with security and stability by ensuring their lease rights are respected during foreclosure or a change in property ownership.
