Orange California Subordination and Attornment Agreement - Landlord - Tenant - Lender

• Category: Landlord Tenant - Subordination
• State: Multi-State
• County: Orange
• Control #: US-XS-0014
• Format: Word; Rich Text

Description

This is a multi-state form covering the subject matter of the title. The Orange California Subordination and Attornment Agreement is a legal contract that outlines the rights and obligations of the landlord, tenant, and lender in a specific real estate transaction in Orange County, California. This agreement is commonly used in commercial leases and serves to establish the priority of the lender's interest in the property, especially in the event of default or foreclosure. Keywords: Orange California, Subordination and Attornment Agreement, Landlord, Tenant, Lender, real estate transaction, commercial lease, priority, default, foreclosure. Types of Orange California Subordination and Attornment Agreement Landlordor— - Tenant - Lender: 1. General Subordination and Attornment Agreement: This type of agreement is the most common and covers the fundamental rights and obligations of the parties involved, including the tenant's acknowledgment of the lender's priority in case of default or foreclosure. 2. Non-Disturbance Agreement: This agreement typically benefits the tenant by ensuring continuity of its lease rights even if the landlord defaults on their loan obligations. The lender agrees not to disturb the tenant's occupancy or rights under the lease. 3. Recognition Agreement: This type of agreement confirms the lender's recognition of the tenant as the occupant of the property and acknowledges the tenant's lease rights. It further establishes the lender's commitment to honor the terms of the lease if they acquire the property through foreclosure or other means. 4. Estoppel Certificate: While not strictly a subordination and attornment agreement, an estoppel certificate is often required in conjunction with it. It is a document prepared by the tenant, which confirms to the lender and potential buyers that the lease is in full force and effect, stating specific terms like rental amounts, expiration dates, and any related agreements or rights between the parties. It is essential for landlords, tenants, and lenders to carefully negotiate and draft these agreements to protect their interests and ensure a smooth transaction and future obligations. Seeking legal advice and guidance from a qualified professional is highly recommended navigating this complex process effectively.

The Orange California Subordination and Attornment Agreement is a legal contract that outlines the rights and obligations of the landlord, tenant, and lender in a specific real estate transaction in Orange County, California. This agreement is commonly used in commercial leases and serves to establish the priority of the lender's interest in the property, especially in the event of default or foreclosure. Keywords: Orange California, Subordination and Attornment Agreement, Landlord, Tenant, Lender, real estate transaction, commercial lease, priority, default, foreclosure. Types of Orange California Subordination and Attornment Agreement Landlordor— - Tenant - Lender: 1. General Subordination and Attornment Agreement: This type of agreement is the most common and covers the fundamental rights and obligations of the parties involved, including the tenant's acknowledgment of the lender's priority in case of default or foreclosure. 2. Non-Disturbance Agreement: This agreement typically benefits the tenant by ensuring continuity of its lease rights even if the landlord defaults on their loan obligations. The lender agrees not to disturb the tenant's occupancy or rights under the lease. 3. Recognition Agreement: This type of agreement confirms the lender's recognition of the tenant as the occupant of the property and acknowledges the tenant's lease rights. It further establishes the lender's commitment to honor the terms of the lease if they acquire the property through foreclosure or other means. 4. Estoppel Certificate: While not strictly a subordination and attornment agreement, an estoppel certificate is often required in conjunction with it. It is a document prepared by the tenant, which confirms to the lender and potential buyers that the lease is in full force and effect, stating specific terms like rental amounts, expiration dates, and any related agreements or rights between the parties. It is essential for landlords, tenants, and lenders to carefully negotiate and draft these agreements to protect their interests and ensure a smooth transaction and future obligations. Seeking legal advice and guidance from a qualified professional is highly recommended navigating this complex process effectively.