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 Nevada Nondisturbance and Attornment Agreement with Landlord is a legal contract that establishes the rights and protections of a tenant in the event of a change in ownership or foreclosure of a property. This agreement is typically entered into by a tenant and the landlord's lender or the new property owner to ensure that the tenant's lease will be recognized and honored. Keywords: Nevada, Nondisturbance and Attornment Agreement, Landlord, tenant rights, change in ownership, foreclosure, contract, lease. There are two main types of Nevada Nondisturbance and Attornment Agreement with Landlord: 1. Leasehold Nondisturbance Agreement: This agreement is commonly used when a tenant occupies a commercial property and the landlord has borrowed money against the property. In the event of default or foreclosure by the landlord, the tenant wants assurance that their lease will not be terminated or disturbed by the lender or new property owner. A leasehold nondisturbance agreement protects the tenant's right to remain in the property and ensures that the new owner or lender will recognize and honor the lease terms. 2. Subordination, Nondisturbance, and Attornment Agreement (SODA): This agreement is typically used in commercial real estate transactions where a tenant is leasing space in a building or property that is subject to a mortgage. The tenant agrees to subordinate their lease agreement to the lender's mortgage, meaning that the lender's interest in the property takes precedence over the tenant's lease. In return, the lender or new property owner agrees to provide a nondisturbance agreement, assuring the tenant that their lease will be recognized and honored, even in the event of foreclosure. Attornment refers to the tenant's agreement to recognize the new property owner or lender as their landlord in such a scenario. In summary, a Nevada Nondisturbance and Attornment Agreement with Landlord is a crucial legal document that safeguards the rights of tenants in the event of a change in ownership or foreclosure. By establishing a clear understanding between the tenant, landlord, and lender or new property owner, these agreements provide the tenant with assurance that their lease will be respected and their occupancy rights will be protected.
