South Carolina Subordination, Non-disturbance and Attornment Agreement
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How to fill out South Carolina Subordination, Non-disturbance And Attornment Agreement?
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FAQ
Subordination is the tenant's agreement that its interest under the lease will be subordinate to that of the lender.Attornment is the tenant's agreement to become the tenant of someone other than the original landlord and who has now taken title to the property.
In the case of commercial property changing hands, an attornment clause in a subordination, non-disturbance, and attornment (SNDA) agreement requires the tenant to acknowledge a new owner as their landlord and to continue paying rent regardless of whether the property changes hands through a normal sale or a
A nondisturbance clause is a provision in a mortgage contract that ensures that a rental agreement between the tenant and the landlord will continue under any circumstances.A nondisturbance clause ensures that a tenant will not be evicted in the event that the landlord goes bankrupt.
An SNDA is an agreement entered into between a tenant and the lender of the landlord (and, ideally, the landlord) to establish the relationship between the tenant and lender (who would not otherwise have a direct relationship) and provide relative priorities between them.