Harris Texas Non-Disturbance and Attornment Agreement

• Category: Oil Gas and Minerals - Agreements
• State: Multi-State
• County: Harris
• Control #: US-OG-1052
• Format: Word; Rich Text

Description

This form is a nondisturbance and attornment agreement. A Harris Texas Non-Disturbance and Attornment Agreement is a legal document that establishes the rights and obligations between a tenant, landlord, and lender in the event of a property foreclosure. This agreement ensures that the tenant's lease will remain in effect and uninterrupted, regardless of any changes in ownership or foreclosure proceedings. In essence, this agreement protects the tenant's occupancy rights, preventing the lender from terminating the lease or evicting the tenant after acquiring the property through foreclosure. It provides the tenant with the assurance that they can continue to occupy and operate their business or residence in the premises, maintaining their business reputation and customer base. The agreement typically involves three parties: the tenant (also known as the "Lessee"), the landlord (also known as the "Lessor"), and the lender (also known as the "Lien holder"). The lender is usually a financial institution that has provided a loan to the landlord, secured by the property. There can be various types of Harris Texas Non-Disturbance and Attornment Agreements, depending on the specific circumstances and parties involved. Some common variations include: 1. Commercial Non-Disturbance and Attornment Agreement: This type of agreement is specifically designed for commercial leases, where businesses operate in the premises. It ensures that the tenant's business operations won't be interrupted due to foreclosure. 2. Residential Non-Disturbance and Attornment Agreement: This agreement applies to residential leases, protecting tenants from being evicted or having their lease terminated due to foreclosure. It assures tenants of their right to continue living in the property as long as they comply with the terms of their lease. 3. Single-Tenant Non-Disturbance and Attornment Agreement: This type of agreement is applicable when a tenant occupies the entire property, such as a stand-alone retail store or a single-family home. It ensures the tenant's right to continue occupying the premises, unaffected by any foreclosure action. 4. Multi-Tenant Non-Disturbance and Attornment Agreement: In cases where multiple tenants occupy different units within a property, this agreement protects their respective lease agreements in the event of foreclosure. Each tenant will have a separate non-disturbance and attornment agreement that specifies the terms and conditions related to their occupancy. It is important for both tenants and landlords to understand the implications and benefits of signing a Harris Texas Non-Disturbance and Attornment Agreement. By doing so, tenants gain peace of mind knowing that their lease will remain intact, while landlords can attract reliable tenants and maintain income stability even during foreclosure situations.

A Harris Texas Non-Disturbance and Attornment Agreement is a legal document that establishes the rights and obligations between a tenant, landlord, and lender in the event of a property foreclosure. This agreement ensures that the tenant's lease will remain in effect and uninterrupted, regardless of any changes in ownership or foreclosure proceedings. In essence, this agreement protects the tenant's occupancy rights, preventing the lender from terminating the lease or evicting the tenant after acquiring the property through foreclosure. It provides the tenant with the assurance that they can continue to occupy and operate their business or residence in the premises, maintaining their business reputation and customer base. The agreement typically involves three parties: the tenant (also known as the "Lessee"), the landlord (also known as the "Lessor"), and the lender (also known as the "Lien holder"). The lender is usually a financial institution that has provided a loan to the landlord, secured by the property. There can be various types of Harris Texas Non-Disturbance and Attornment Agreements, depending on the specific circumstances and parties involved. Some common variations include: 1. Commercial Non-Disturbance and Attornment Agreement: This type of agreement is specifically designed for commercial leases, where businesses operate in the premises. It ensures that the tenant's business operations won't be interrupted due to foreclosure. 2. Residential Non-Disturbance and Attornment Agreement: This agreement applies to residential leases, protecting tenants from being evicted or having their lease terminated due to foreclosure. It assures tenants of their right to continue living in the property as long as they comply with the terms of their lease. 3. Single-Tenant Non-Disturbance and Attornment Agreement: This type of agreement is applicable when a tenant occupies the entire property, such as a stand-alone retail store or a single-family home. It ensures the tenant's right to continue occupying the premises, unaffected by any foreclosure action. 4. Multi-Tenant Non-Disturbance and Attornment Agreement: In cases where multiple tenants occupy different units within a property, this agreement protects their respective lease agreements in the event of foreclosure. Each tenant will have a separate non-disturbance and attornment agreement that specifies the terms and conditions related to their occupancy. It is important for both tenants and landlords to understand the implications and benefits of signing a Harris Texas Non-Disturbance and Attornment Agreement. By doing so, tenants gain peace of mind knowing that their lease will remain intact, while landlords can attract reliable tenants and maintain income stability even during foreclosure situations.