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.
Oregon Nondisturbance Provision — Tenant Friendly: A Detailed Description The Oregon Nondisturbance Provision, also known as the Tenant-Friendly Nondisturbance Provision, is a crucial element of lease agreements in Oregon that offers substantial protection to tenants in the event of a property foreclosure or sale. Created to safeguard the rights and interests of residential and commercial tenants, this provision guarantees the continuation of their lease agreements, largely uninterrupted, regardless of any unforeseen circumstances. This article aims to provide a comprehensive overview of the different types and key aspects of the Oregon Nondisturbance Provision. Types of Oregon Nondisturbance Provision: 1. Residential Nondisturbance Provision: This type of provision is specifically designed to favor residents of rental properties, ensuring that they are not forced to vacate their homes due to unforeseen circumstances such as foreclosure or property sale. The Residential Nondisturbance Provision fosters security and stability for tenants facing such situations. 2. Commercial Nondisturbance Provision: Businesses operating in Oregon can benefit from the Commercial Nondisturbance Provision. This provision offers security to commercial tenants, guaranteeing the continuation of their lease agreement even if the property is foreclosed upon or sold. This provision enables businesses, whether small or large, to maintain their existing operations without disruption. Key Aspects of the Oregon Nondisturbance Provision: 1. Continuity of Lease Agreement: The Oregon Nondisturbance Provision ensures that tenants can continue their lease agreements despite changes in property ownership. This provision limits the chances of sudden eviction or lease termination, providing tenants a sense of security and stability. 2. Foreclosure Protection: In the event of property foreclosure, the Oregon Nondisturbance Provision shields tenants from the adverse effects of such circumstances. It prevents new property owners from terminating existing lease agreements, allowing tenants to maintain their residence or business location. 3. Notice Requirements: To avail themselves of the protection provided by the Oregon Nondisturbance Provision, tenants should receive a specific notice during the foreclosure process. This notice serves as an acknowledgment that the new property owner recognizes and respects the existing lease agreements. 4. Lease Continuation Rights: With the Oregon Nondisturbance Provision, tenants have a legal right to stay on the property under the same lease terms and conditions. This provision ensures that tenants can continue to enjoy the benefits and amenities stipulated in their original lease agreement without unnecessary disruptions. 5. Legal Recourse: In the event of a violation of the Oregon Nondisturbance Provision, tenants have the right to pursue legal action against the new property owner. This legal recourse ensures that tenants are adequately protected and allows them to seek appropriate remedies for any violations. In conclusion, the Oregon Nondisturbance Provision, both in its residential and commercial forms, offers substantial protection to tenants in the face of property foreclosure or sale. By ensuring the continuity of lease agreements, protecting against sudden eviction, and providing legal recourse, this tenant-friendly provision contributes to a stable and supportive rental market in Oregon.Oregon Nondisturbance Provision — Tenant Friendly: A Detailed Description The Oregon Nondisturbance Provision, also known as the Tenant-Friendly Nondisturbance Provision, is a crucial element of lease agreements in Oregon that offers substantial protection to tenants in the event of a property foreclosure or sale. Created to safeguard the rights and interests of residential and commercial tenants, this provision guarantees the continuation of their lease agreements, largely uninterrupted, regardless of any unforeseen circumstances. This article aims to provide a comprehensive overview of the different types and key aspects of the Oregon Nondisturbance Provision. Types of Oregon Nondisturbance Provision: 1. Residential Nondisturbance Provision: This type of provision is specifically designed to favor residents of rental properties, ensuring that they are not forced to vacate their homes due to unforeseen circumstances such as foreclosure or property sale. The Residential Nondisturbance Provision fosters security and stability for tenants facing such situations. 2. Commercial Nondisturbance Provision: Businesses operating in Oregon can benefit from the Commercial Nondisturbance Provision. This provision offers security to commercial tenants, guaranteeing the continuation of their lease agreement even if the property is foreclosed upon or sold. This provision enables businesses, whether small or large, to maintain their existing operations without disruption. Key Aspects of the Oregon Nondisturbance Provision: 1. Continuity of Lease Agreement: The Oregon Nondisturbance Provision ensures that tenants can continue their lease agreements despite changes in property ownership. This provision limits the chances of sudden eviction or lease termination, providing tenants a sense of security and stability. 2. Foreclosure Protection: In the event of property foreclosure, the Oregon Nondisturbance Provision shields tenants from the adverse effects of such circumstances. It prevents new property owners from terminating existing lease agreements, allowing tenants to maintain their residence or business location. 3. Notice Requirements: To avail themselves of the protection provided by the Oregon Nondisturbance Provision, tenants should receive a specific notice during the foreclosure process. This notice serves as an acknowledgment that the new property owner recognizes and respects the existing lease agreements. 4. Lease Continuation Rights: With the Oregon Nondisturbance Provision, tenants have a legal right to stay on the property under the same lease terms and conditions. This provision ensures that tenants can continue to enjoy the benefits and amenities stipulated in their original lease agreement without unnecessary disruptions. 5. Legal Recourse: In the event of a violation of the Oregon Nondisturbance Provision, tenants have the right to pursue legal action against the new property owner. This legal recourse ensures that tenants are adequately protected and allows them to seek appropriate remedies for any violations. In conclusion, the Oregon Nondisturbance Provision, both in its residential and commercial forms, offers substantial protection to tenants in the face of property foreclosure or sale. By ensuring the continuity of lease agreements, protecting against sudden eviction, and providing legal recourse, this tenant-friendly provision contributes to a stable and supportive rental market in Oregon.
