Montana Non-Disturbance, Attornment, Estoppel & Subordination Agreement

• Category: Oil Gas and Minerals - Agreements
• State: Multi-State
• Control #: US-OG-1053
• Format: Word; Rich Text

Description

This form is a nondisturbance, attornment, estoppel and subordination agreement. Montana Non-Disturbance, Attornment, Estoppel & Subordination Agreement (NDAESA) is a legal document that establishes the rights and obligations between a tenant, landlord, and a lender in the state of Montana. It is primarily used in commercial real estate transactions to protect the interests of all parties involved. A Montana NDAESA is composed of several key elements, including non-disturbance, attornment, estoppel, and subordination clauses. Let's explore each of these components in detail: 1. Non-Disturbance: This clause guarantees the tenant that their lease will remain enforceable, even if the property is foreclosed upon or transferred to a new owner. It provides the tenant with the assurance that their occupancy will not be disturbed by any changes in ownership or lending arrangements. 2. Attornment: The attornment clause requires the tenant to acknowledge and accept a new landlord after a change in ownership or a foreclosure. It ensures that the tenant agrees to acknowledge and comply with the terms of the lease with the new landlord, protecting their rights and preventing any potential disputes. 3. Estoppel: Estoppel clauses prohibit the tenant from making any contradictory claims regarding the lease, its terms, or the relationships between the parties involved. By signing this agreement, the tenant agrees that the statements made in the agreement are true and that they will not make any conflicting claims that could harm the landlord's or lender's interests. 4. Subordination: The subordination clause establishes the priority of the lender's mortgage or lien rights over the tenant's lease rights. It ensures that the lender's rights take precedence in the event of default or foreclosure, potentially allowing the lender to terminate the lease in such circumstances. Different types or variations of Montana NDAESAs may exist, depending on the specific needs and requirements of the parties involved in the real estate transaction. Some additional factors that may vary between agreements include the duration of the agreement, the terms of estoppel or non-disturbance, and specific provisions relating to early lease termination or default scenarios. In summary, a Montana Non-Disturbance, Attornment, Estoppel & Subordination Agreement is a legal contract that safeguards the rights of tenants, landlords, and lenders in commercial real estate transactions. It provides assurances to the tenant that their lease will be honored regardless of any changes in ownership or foreclosure, while allowing lenders to protect their interests in the property.

Montana Non-Disturbance, Attornment, Estoppel & Subordination Agreement (NDAESA) is a legal document that establishes the rights and obligations between a tenant, landlord, and a lender in the state of Montana. It is primarily used in commercial real estate transactions to protect the interests of all parties involved. A Montana NDAESA is composed of several key elements, including non-disturbance, attornment, estoppel, and subordination clauses. Let's explore each of these components in detail: 1. Non-Disturbance: This clause guarantees the tenant that their lease will remain enforceable, even if the property is foreclosed upon or transferred to a new owner. It provides the tenant with the assurance that their occupancy will not be disturbed by any changes in ownership or lending arrangements. 2. Attornment: The attornment clause requires the tenant to acknowledge and accept a new landlord after a change in ownership or a foreclosure. It ensures that the tenant agrees to acknowledge and comply with the terms of the lease with the new landlord, protecting their rights and preventing any potential disputes. 3. Estoppel: Estoppel clauses prohibit the tenant from making any contradictory claims regarding the lease, its terms, or the relationships between the parties involved. By signing this agreement, the tenant agrees that the statements made in the agreement are true and that they will not make any conflicting claims that could harm the landlord's or lender's interests. 4. Subordination: The subordination clause establishes the priority of the lender's mortgage or lien rights over the tenant's lease rights. It ensures that the lender's rights take precedence in the event of default or foreclosure, potentially allowing the lender to terminate the lease in such circumstances. Different types or variations of Montana NDAESAs may exist, depending on the specific needs and requirements of the parties involved in the real estate transaction. Some additional factors that may vary between agreements include the duration of the agreement, the terms of estoppel or non-disturbance, and specific provisions relating to early lease termination or default scenarios. In summary, a Montana Non-Disturbance, Attornment, Estoppel & Subordination Agreement is a legal contract that safeguards the rights of tenants, landlords, and lenders in commercial real estate transactions. It provides assurances to the tenant that their lease will be honored regardless of any changes in ownership or foreclosure, while allowing lenders to protect their interests in the property.