Request for Tenant Estoppel Subordination Non-disturbance and Attornment Agreement(Snda) - Washington

Request for Tenant Estoppel Subordination Non-disturbance and Attornment Agreement(Snda) is a legal document that was released by the Washington State Department of Enterprise Services - a government authority operating within Washington.

FAQ

Q: What is a Tenant Estoppel Subordination Non-disturbance and Attornment Agreement (SNDA)?
A: A SNDA is a legal agreement between a tenant, a lender, and a landlord that outlines the rights and obligations of each party in the event of a default or a foreclosure.

Q: Why is a SNDA important for tenants?
A: A SNDA is important for tenants because it protects their rights in the event of a foreclosure. It ensures that the tenant's lease will continue and that they will not be evicted by the new owner or lender.

Q: What does 'tenant estoppel' mean in a SNDA?
A: 'Tenant estoppel' refers to a statement from the tenant confirming the terms and conditions of their lease. It is often required by lenders to ensure that the tenant is in compliance with their lease agreement.

Q: What does 'subordination' mean in a SNDA?
A: 'Subordination' means that the tenant agrees that their lease is subordinate to the lender's mortgage or security interest. This means that the lender's rights take priority over the tenant's rights in the event of a default or foreclosure.

Q: What does 'non-disturbance' mean in a SNDA?
A: 'Non-disturbance' means that the lender agrees to not disturb the tenant's possession and use of the leased premises as long as the tenant is not in default of their lease obligations.

Q: What does 'attornment' mean in a SNDA?
A: 'Attornment' means that the tenant agrees to recognize and accept a new owner or lender as their landlord in the event of a foreclosure. It ensures that the tenant will continue to pay rent to the new owner or lender.

Q: Is a SNDA legally binding?
A: Yes, a SNDA is a legally binding agreement between the tenant, lender, and landlord. It outlines the rights and obligations of each party and can be enforced in a court of law.

Q: Who typically prepares a SNDA?
A: A SNDA is typically prepared by the lender or their legal counsel. However, the tenant and landlord may also have their own legal representation review the agreement.