Rhode Island 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. A Rhode Island Non-Disturbance, Attornment, Estoppel & Subordination Agreement is a legal document used in real estate transactions to protect the interests and rights of tenants in the event of a change in ownership or financing of a property. This agreement is often required by lenders to ensure that the tenant's leasehold rights and obligations are preserved even if a foreclosure or sale occurs. Keywords: Rhode Island, non-disturbance, attornment, estoppel, subordination agreement, real estate, tenants, change in ownership, financing, rights, obligations, foreclosure, sale. There are different types of Rhode Island Non-Disturbance, Attornment, Estoppel & Subordination Agreements, including: 1. Tenant Non-Disturbance Agreement: This type of agreement is made between the tenant and the lender or new property owner. It states that the tenant's rights and leasehold interest will not be disturbed or terminated in the event of a foreclosure or sale. The tenant continues to enjoy the rights and benefits of their lease agreement, regardless of any changes in property ownership. 2. Lender Non-Disturbance Agreement: This agreement is made between the lender and the tenant, ensuring that the lender will not disturb the tenant's rights in the event of foreclosure. It provides the tenant with the assurance that their lease will remain intact and enforceable even if the property is foreclosed upon by the lender. 3. Subordination Agreement: A subordination agreement is a separate document typically associated with non-disturbance agreements. In this agreement, the tenant agrees that their leasehold interest is subordinate to the lender's mortgage or other financing. This means that in the event of foreclosure, the lender's rights take priority over the tenant's rights. 4. Estoppel Certificate: This certificate is typically executed by the tenant and provided to the lender or new owner, confirming the key terms of the lease agreement, including the start and end dates, rental amount, and any other important provisions. It prevents the tenant from later disputing the accuracy of these terms and acts as proof of their lease rights and obligations. The Rhode Island Non-Disturbance, Attornment, Estoppel & Subordination Agreement helps to protect both tenants and lenders by ensuring that leasehold rights are preserved and respected in the event of ownership changes or financing arrangements. These agreements play a crucial role in maintaining stability and continuity in commercial real estate leases.

A Rhode Island Non-Disturbance, Attornment, Estoppel & Subordination Agreement is a legal document used in real estate transactions to protect the interests and rights of tenants in the event of a change in ownership or financing of a property. This agreement is often required by lenders to ensure that the tenant's leasehold rights and obligations are preserved even if a foreclosure or sale occurs. Keywords: Rhode Island, non-disturbance, attornment, estoppel, subordination agreement, real estate, tenants, change in ownership, financing, rights, obligations, foreclosure, sale. There are different types of Rhode Island Non-Disturbance, Attornment, Estoppel & Subordination Agreements, including: 1. Tenant Non-Disturbance Agreement: This type of agreement is made between the tenant and the lender or new property owner. It states that the tenant's rights and leasehold interest will not be disturbed or terminated in the event of a foreclosure or sale. The tenant continues to enjoy the rights and benefits of their lease agreement, regardless of any changes in property ownership. 2. Lender Non-Disturbance Agreement: This agreement is made between the lender and the tenant, ensuring that the lender will not disturb the tenant's rights in the event of foreclosure. It provides the tenant with the assurance that their lease will remain intact and enforceable even if the property is foreclosed upon by the lender. 3. Subordination Agreement: A subordination agreement is a separate document typically associated with non-disturbance agreements. In this agreement, the tenant agrees that their leasehold interest is subordinate to the lender's mortgage or other financing. This means that in the event of foreclosure, the lender's rights take priority over the tenant's rights. 4. Estoppel Certificate: This certificate is typically executed by the tenant and provided to the lender or new owner, confirming the key terms of the lease agreement, including the start and end dates, rental amount, and any other important provisions. It prevents the tenant from later disputing the accuracy of these terms and acts as proof of their lease rights and obligations. The Rhode Island Non-Disturbance, Attornment, Estoppel & Subordination Agreement helps to protect both tenants and lenders by ensuring that leasehold rights are preserved and respected in the event of ownership changes or financing arrangements. These agreements play a crucial role in maintaining stability and continuity in commercial real estate leases.