A South Carolina Non-Disturbance and Attornment Agreement is a legally binding document that establishes the rights and obligations of a tenant, landlord, and lender in the event of a foreclosure or sale of a property. It is designed to protect the interests of the tenant by ensuring that their lease agreement remains in effect even if the property changes ownership. In South Carolina, there are two main types of Non-Disturbance and Attornment Agreements: 1. Commercial Non-Disturbance and Attornment Agreement: This agreement is commonly used in commercial real estate leases. It ensures that if the tenant's landlord defaults on their loan and the property is foreclosed or sold, the new owner or lender agrees to honor the terms of the existing lease. This prevents the tenant's rights from being disrupted and provides them with a sense of security and stability. 2. Residential Non-Disturbance and Attornment Agreement: This agreement is typically used in residential rental leases. It operates similarly to its commercial counterpart by ensuring that if the property is foreclosed or sold, the new owner or lender will recognize the tenant's lease agreement and allow them to remain in the property until the lease term expires. This protects the tenant from sudden eviction or disruption of their living arrangement. Keywords: South Carolina, Non-Disturbance and Attornment Agreement, foreclosure, sale of property, tenant rights, lease agreement, commercial real estate, new owner, lender, residential rental lease, eviction, living arrangement.
South Carolina Non-Disturbance and Attornment Agreement
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How to fill out South Carolina Non-Disturbance And Attornment Agreement?
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