This office lease form states that the landlord has entered into a certain agreement of lease with the tenant as sublessor. The tenant, as sublessor, has entered into a certain sublease agreement with the sublessee. In the event of termination of the lease, the sublessee agrees to attorn to and accept the landlord as its direct landlord under the lease for the balance then remaining of the term of the Lease, and the sublessee shall assume all of the terms and conditions of the Lease, except that sublessee shall have no liability for any defaults of Tenant prior to the date of attornment.
Collin Texas Non-Disturbance and Attornment Agreement With Landlord (NCAA) — A Comprehensive Overview In Collin, Texas, the Non-Disturbance and Attornment Agreement With Landlord (NCAA) is a legal document that ensures tenant rights and protection in the event of a change in ownership or foreclosure of a property. This agreement acts as an assurance for tenants that their leases will remain intact, despite any changes in property ownership. NCAA plays a critical role in securing the interests of tenants and providing them with stability and security in their leased premises. The agreement includes three essential components: non-disturbance, attornment, and the landlord's agreement. 1. Non-Disturbance Clause: Under the non-disturbance clause, the new property owner or lender agrees not to disturb the tenant's rights and obligations stated in the original lease agreement. This means that even if the property is sold or foreclosed, the tenant will not face immediate eviction or disruption of their tenancy rights. 2. Attornment Clause: The attornment clause requires the tenant to acknowledge and accept the new property owner or lender as their landlord. This clause ensures that the tenant recognizes the new entity as the rightful successor to the previous landlord in terms of obligations, lease terms, and conditions. Essentially, it establishes a direct relationship between the tenant and the new property owner. 3. Landlord's Agreement: The landlord's agreement section outlines the terms and conditions that the new property owner or lender must adhere to in respect to the tenant's original lease. It typically includes provisions related to rent payments, repairs and maintenance, and other lease obligations. This ensures that the tenant's rights and benefits remain unchanged under the new ownership. Different Types of Collin Texas Non-Disturbance and Attornment Agreements With Landlord: 1. Commercial NCAA: This type of agreement is primarily used in the commercial real estate sector, ensuring that commercial tenants are protected in the event of property transfers or foreclosures. It safeguards tenants from sudden rent increases, unjust eviction, or lease modifications by new property owners or lenders. 2. Residential NCAA: Unlike commercial NCAA, this agreement type caters specifically to residential tenants. It offers similar protections to tenants in apartment complexes, single-family homes, or multi-family housing. Residential NCAA ensures that tenants can continue their tenancy without any significant disruptions, allowing them to confidently live in the property. In conclusion, the Collin Texas Non-Disturbance and Attornment Agreement With Landlord is a critical legal document that safeguards the rights and interests of both commercial and residential tenants. By providing stability and security in the event of a change in property ownership or foreclosure, this agreement offers tenants peace of mind and ensures their lease rights remain intact.
