A Santa Clara California Non-Disturbance, Attornment, Estoppel & Subordination Agreement is a legal document typically used in commercial real estate transactions. It is an agreement between a tenant, landlord, and a lender that sets forth the tenant's rights in the event of a foreclosure on the property. Keywords: Santa Clara California, Non-Disturbance, Attornment, Estoppel & Subordination Agreement, commercial real estate, tenant, landlord, lender, foreclosure. In Santa Clara, California, there are primarily two types of Non-Disturbance, Attornment, Estoppel & Subordination Agreements: 1. Tenant-favorable Agreement: This type of agreement is designed to protect the rights of the tenant in case of a foreclosure. It ensures that the tenant's leasehold interest will not be disturbed by the lender who forecloses on the property. The agreement also typically includes provisions for the tenant to receive notice of any default by the landlord and an opportunity to cure such defaults before any action is taken. 2. Lender-favorable Agreement: This type of agreement is more beneficial to the lender. It primarily addresses the rights of the lender in case of a foreclosure, ensuring that the tenant attorns to the lender as the new landlord and agrees to recognize the lender as the new owner of the property. The agreement also includes subordination clauses, which prioritize the lender's rights over the tenant's leasehold interest. A Santa Clara California Non-Disturbance, Attornment, Estoppel & Subordination Agreement is a crucial part of a commercial real estate transaction. It provides protection for both the tenant and lender in case of a foreclosure, ensuring a smooth transition of ownership while safeguarding the tenant's leasehold rights.
Santa Clara California Non-Disturbance, Attornment, Estoppel & Subordination Agreement
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