Subordination, non-disturbance and attornment agreements (SNDAs) are often encountered by transactional real estate lawyers, but infrequently discussed. An SNDA is an agreement among a tenant, the landlord’s mortgage lender and, usually, the landlord. An SNDA provides that a tenant’s lease will be subordinated to a mortgage on the landlord’s property, and the mortgage lender will agree that if the mortgage goes into default and the lender forecloses its mortgage, the lease will continue (i.e., it will not be disturbed).
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Resources of Interest
- CityBiz Real Estate
- CT Department of Energy & Environmental Protection (CTDEP)
- Environmental Protection Agency (EPA)
- International Council of Shopping Centers (ICSC)
- NAIOP – The Commercial Real Estate Development Association
- NJ Department of Environmental Protection (NJDEP)
- NYC Department of Environmental Protection (NYCDEP)
- PA Department of Environmental Protection (PADEP)