What does legal term exclusive possession mean?

Related Definitions Exclusive possession means that the tenant has the right to shut out the world and the landlord cannot enter the dwelling without the tenant's permission. The exclusive dwelling might be an entire self-contained house or flat or it might be a single room in a house of multiple occupation.

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Surface Tenant's Subordination to An Oil and Gas Lease

Broward Florida Surface Tenant's Subordination to An Oil and Gas Lease

Name: Broward Florida Surface Tenant's Subordination to An Oil and Gas Lease
Brand: US Legal Forms
Rating: 4.83 (251 reviews)

Category:

Oil Gas and Minerals - Subordination

State:

Multi-State

County:

Broward

Control #:

US-OG-143

Format:

Instant download

Description

If an oil and gas lease has been granted on lands in which there is a surface tenant, it may be necessary or advisable to obtain a subordination of the agreement or lease with the surface tenant, to the oil and gas lease. This form provides for that subordination and directs the manner in which compensation for any damages shall be paid.

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FAQ

Subordination is putting something in a lower position or rank. Therefore, a subordination agreement puts the lease below the mortgage loan in priority. Mortgage lenders want the leases to be subordinate to the mortgage. That way, the mortgage loan is paid first if there is a foreclosure.

Related Definitions Exclusive possession means that the tenant has the right to shut out the world and the landlord cannot enter the dwelling without the tenant's permission. The exclusive dwelling might be an entire self-contained house or flat or it might be a single room in a house of multiple occupation.

Subordination agreement is a contract which guarantees senior debt will be paid before other subordinated debt if the debtor becomes bankrupt.

A subordination clause is a lease provision whereby the tenant subordinates its possessory interest in the leased premises to a third-party lender, usually a bank (the rights of the tenant are thus subject to the rights of the lender).

Exclusive use means that your condo unit comes with the right to the exclusive use of some amenity in the building. This is often a parking spot, a locker or a terrace. As the owner of the condo unit, you are the only person who can use the other space (parking, locker, terrace) while you own your condo.

An agreement for the grant of an interest in land on terms that correspond to a legal lease but do not comply with the necessary formal requirements of a legal lease.

A lease is a contract outlining the terms under which one party agrees to rent an assetin this case, propertyowned by another party. It guarantees the lessee, also known as the tenant, use of the property and guarantees the lessor (the property owner or landlord) regular payments for a specified period in exchange.

A subordination, non-disturbance, and attornment agreement (SNDA) is a three-party agreement among: A lender who has (or is about to take) a security interest in real property that is being: encumbered by a mortgage, deed of trust, or other security instrument; and. affected by one or more commercial leases.

Exclusive possession It is the right of the tenant to stop other people, including the landlord, from entering without permission. The premises that are let do not have to constitute an entire flat or house. It is possible to have a tenancy of a single room.

When you take out a mortgage loan, the lender will likely include a subordination clause. Within this clause, the lender essentially states that their lien will take precedence over any other liens placed on the house. A subordination clause serves to protect the lender in case you default.

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RE: Price's Scrub Greenway, Lease Number: 4425. Of the remaining lease term.Ensure tenants can stay if property is sold. Broward County: Political subdivision of the State of Florida. Courses related to brake systems will be included in the curriculum. Hospital District d.b.a. Broward Health of Fort Lauderdale, FL from August 1, 2021 through. Tenant Under Farm Lease May Have Rights Under Pipeline Right-Of-Way Agreement. Capital Expenditure costs for any Buy-Out Amount.

Any property acquisition costs (not the cost of the Pipeline Project). The total amounts required to complete and build the Pipeline Project. The total amount required to pay fees to the state pipeline regulatory authority. The total amount required to pay the pipeline regulatory authority its cost recovery fees. The total amount required to pay the pipeline regulatory authority's interest charges. The total amount needed to satisfy all terms and conditions of the Pipeline Project. D.B.A. Environmental Assessment, Bylaw and Code Review. The Bylaws and code review of any facilities necessary to build the Pipeline. If the project is not permitted, the Pipeline Project. If the project is denied, the Project. If the project generate the required amount of revenues from the sale of the land, the Project. D.B.

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Broward Florida Surface Tenant's Subordination to An Oil and Gas Lease

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