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 New Jersey Nondisturbance and Attornment Agreement (NDA) is a legal document that provides protections to tenants when their landlord is involved in a foreclosure or a mortgage loan transfer. The NDA ensures that the tenant's rights and lease agreements will be recognized and respected by the new landlord or the party taking over the property. In the state of New Jersey, there are several types of NDA agreements that tenants and landlords may enter into, depending on the specific situation. The three common types are: 1. Tenant Nondisturbance Agreement: This type of NDA is typically used when a tenant enters into a lease agreement with a landlord who already has a mortgage or intends to obtain a mortgage on the property. The tenant and lender agree that, in the event of foreclosure, the tenant's rights and lease agreement will not be disturbed. 2. Subordination Agreement: In some cases, a lender may require a tenant to sign a subordination agreement as a condition for obtaining a mortgage on the property. This agreement subordinates the tenant's lease rights to the lender's rights, meaning that if the landlord defaults on the loan, the tenant's lease may be terminated. 3. Estoppel Agreement: An estoppel agreement is commonly used during the sale or refinancing of a property. It requires the tenant to confirm the current lease terms and any other related agreements, certifying that there are no undisclosed provisions that could affect the property's value or the lender's security interest. Keywords: New Jersey Nondisturbance and Attornment Agreement, NDA, landlord, tenant, foreclosure, mortgage loan transfer, lease agreement, tenant rights, mortgage, subordination agreement, estoppel agreement, property, refinancing, lender, loan.A New Jersey Nondisturbance and Attornment Agreement (NDA) is a legal document that provides protections to tenants when their landlord is involved in a foreclosure or a mortgage loan transfer. The NDA ensures that the tenant's rights and lease agreements will be recognized and respected by the new landlord or the party taking over the property. In the state of New Jersey, there are several types of NDA agreements that tenants and landlords may enter into, depending on the specific situation. The three common types are: 1. Tenant Nondisturbance Agreement: This type of NDA is typically used when a tenant enters into a lease agreement with a landlord who already has a mortgage or intends to obtain a mortgage on the property. The tenant and lender agree that, in the event of foreclosure, the tenant's rights and lease agreement will not be disturbed. 2. Subordination Agreement: In some cases, a lender may require a tenant to sign a subordination agreement as a condition for obtaining a mortgage on the property. This agreement subordinates the tenant's lease rights to the lender's rights, meaning that if the landlord defaults on the loan, the tenant's lease may be terminated. 3. Estoppel Agreement: An estoppel agreement is commonly used during the sale or refinancing of a property. It requires the tenant to confirm the current lease terms and any other related agreements, certifying that there are no undisclosed provisions that could affect the property's value or the lender's security interest. Keywords: New Jersey Nondisturbance and Attornment Agreement, NDA, landlord, tenant, foreclosure, mortgage loan transfer, lease agreement, tenant rights, mortgage, subordination agreement, estoppel agreement, property, refinancing, lender, loan.
