Franklin Ohio Non-Disturbance, Attornment, Estoppel & Subordination Agreement

• Category: Oil Gas and Minerals - Agreements
• State: Multi-State
• County: Franklin
• Control #: US-OG-1053
• Format: Word; Rich Text

Description

This form is a nondisturbance, attornment, estoppel and subordination agreement. A Franklin Ohio Non-Disturbance, Attornment, Estoppel & Subordination Agreement is a legal document that protects the rights and interests of parties involved in a real estate transaction, particularly in the context of leases and mortgages. This agreement is relevant for tenants, landlords, and lenders in Franklin, Ohio, as it ensures that their respective rights and obligations are acknowledged and preserved. Keywords: Franklin Ohio, Non-Disturbance, Attornment, Estoppel, Subordination Agreement, real estate, transaction, leases, mortgages, tenants, landlords, lenders. There are two primary types of Franklin Ohio Non-Disturbance, Attornment, Estoppel & Subordination Agreements: 1. Tenant Non-Disturbance, Attornment, Estoppel & Subordination Agreement: This agreement is between a tenant and a lender or a landlord. It aims to protect the tenant's leasehold interest in a property from being disturbed or terminated due to an action taken by the landlord's lender, such as foreclosure. It also allows the lender to subordinate its lien or interest to the tenant's leasehold interest, ensuring that the lease remains in effect even if the property changes ownership. 2. Subordination, Non-Disturbance, and Attornment Agreement (SODA) between a lender, landlord, and tenant: This type of agreement involves all three parties — lender, landlordantenatalan— - and is commonly used in commercial real estate transactions. It establishes the rights and obligations of each party in the event of a default or foreclosure. The lender subordinates its deed of trust or mortgage to the tenant's leasehold interest, providing the tenant with assurance that their lease will remain valid and unaffected even if the lender takes possession of the property. The tenant attorns to the lender, recognizing them as the new landlord, and agrees to fulfill their lease obligations under the new ownership. In summary, a Franklin Ohio Non-Disturbance, Attornment, Estoppel & Subordination Agreement is a crucial legal tool that safeguards the rights and interests of tenants, landlords, and lenders involved in real estate transactions in Franklin, Ohio. It ensures that tenant leases remain valid and unaffected in cases of foreclosure or change in property ownership. It is important for all parties to understand the terms and obligations outlined in these agreements, as they provide clarity and protection in complex real estate scenarios.

A Franklin Ohio Non-Disturbance, Attornment, Estoppel & Subordination Agreement is a legal document that protects the rights and interests of parties involved in a real estate transaction, particularly in the context of leases and mortgages. This agreement is relevant for tenants, landlords, and lenders in Franklin, Ohio, as it ensures that their respective rights and obligations are acknowledged and preserved. Keywords: Franklin Ohio, Non-Disturbance, Attornment, Estoppel, Subordination Agreement, real estate, transaction, leases, mortgages, tenants, landlords, lenders. There are two primary types of Franklin Ohio Non-Disturbance, Attornment, Estoppel & Subordination Agreements: 1. Tenant Non-Disturbance, Attornment, Estoppel & Subordination Agreement: This agreement is between a tenant and a lender or a landlord. It aims to protect the tenant's leasehold interest in a property from being disturbed or terminated due to an action taken by the landlord's lender, such as foreclosure. It also allows the lender to subordinate its lien or interest to the tenant's leasehold interest, ensuring that the lease remains in effect even if the property changes ownership. 2. Subordination, Non-Disturbance, and Attornment Agreement (SODA) between a lender, landlord, and tenant: This type of agreement involves all three parties — lender, landlordantenatalan— - and is commonly used in commercial real estate transactions. It establishes the rights and obligations of each party in the event of a default or foreclosure. The lender subordinates its deed of trust or mortgage to the tenant's leasehold interest, providing the tenant with assurance that their lease will remain valid and unaffected even if the lender takes possession of the property. The tenant attorns to the lender, recognizing them as the new landlord, and agrees to fulfill their lease obligations under the new ownership. In summary, a Franklin Ohio Non-Disturbance, Attornment, Estoppel & Subordination Agreement is a crucial legal tool that safeguards the rights and interests of tenants, landlords, and lenders involved in real estate transactions in Franklin, Ohio. It ensures that tenant leases remain valid and unaffected in cases of foreclosure or change in property ownership. It is important for all parties to understand the terms and obligations outlined in these agreements, as they provide clarity and protection in complex real estate scenarios.