Common Contracts
1 similar Estoppel Letters & Subordination, Nondisturbance & Attornment Agreements contracts
ESTOPPEL LETTERS & SUBORDINATION, NONDISTURBANCE & ATTORNMENT AGREEMENTSEstoppel Letters & Subordination, Nondisturbance & Attornment Agreements • January 6th, 2009
In today’s economic climate, a Lender must be more careful than ever when it makes a loan secured by rental real estate – real estate that derives a great deal of its value from the rent payments of the property’s tenants. The Lender must have both assurance that the leases are not in default and a promise by the tenants to continue to pay their rent to the new owner after a foreclosure or other sale. For leases that are recorded in the public records, the Lender will also need to have an agreement by the tenant that the lease is subordinate to the mortgage.
