An SNDA, or Subordination and Nondisturbance Agreement, is a contract between a tenant and lender. This agreement protects the tenant in the event that the landlord defaults on their mortgage payments and the property is foreclosed upon. The agreement states that the tenant’s lease will remain in effect and they can continue to occupy the property.
There are a few things to keep in mind if you’re considering signing an SNDA. First, you should make sure that the agreement is between you and the lender, not the landlord. Second, the agreement should state that your lease will remain in effect and that you can continue to occupy the property. Finally, you should consult with an attorney to ensure that the agreement is in your best interest.
Do I Need an SNDA?
An SNDA is not required by law, but it is generally required by landlords when a tenant wants to sublease their space or when a new tenant moves into a property where there is already an existing lease. If you are a tenant in this situation, it is important to understand your rights and obligations under an SNDA. Our experienced real estate attorneys can answer your questions and help you navigate this process. Give us a call today at 248-572-1050 to learn more about SNDA.
How Can a Lawyer Help Me?
An SNDA can be a complex legal document. A lawyer can help you understand the terms of an SNDA and ensure that your rights are protected. They can gather any important information, as well as draft an agreement for you and your tenants, and make sure that all areas are covered. Our law firm has experience handling SNDAs and other real estate matters. We can answer your questions and help you navigate this process.
When Should I Contact a Lawyer About My Legal Needs?
Contacting an attorney about any legal needs you might have is always a good idea. An attorney can provide you with legal advice and guidance specific to your situation. We can answer your questions and help you navigate this process.
If you have questions about an SNDA or any other real estate matter, it is important to speak with a lawyer as soon as possible. Our law firm can answer your questions and help you understand your legal options. Contact us today at 248-572-1050 to schedule a consultation.