The Attornment And Non Disturbance Agreement is a crucial document in Indian real estate and financing transactions where mortgaged properties are leased to tenants. It becomes particularly relevant when a property owner has both mortgaged their property to a lender and leased it to a tenant, creating a complex three-way relationship that needs careful regulation. The agreement addresses potential conflicts that might arise if the lender forecloses on the property, ensuring the tenant's rights are protected while also securing the lender's interests. It includes specific provisions about the continuation of the lease, recognition of new ownership, and maintenance of existing lease terms. Under Indian law, this agreement may need to be registered under the Registration Act, 1908, if it creates or modifies property rights, and must comply with the Transfer of Property Act, 1882, and the Indian Contract Act, 1872.
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1. Parties: Identifies all parties to the agreement: (1) Landlord/Property Owner, (2) Tenant, and (3) Lender/Mortgagee
2. Background: Recitals explaining the existing lease arrangement, mortgage/loan arrangement, and purpose of the agreement
3. Definitions: Key terms used throughout the agreement including Property, Lease, Mortgage, Security Interest, etc.
4. Attornment: Tenant's acknowledgment and agreement to recognize the Lender as the landlord upon foreclosure or similar enforcement
5. Non-Disturbance: Lender's covenant not to disturb tenant's possession and lease rights in case of foreclosure
6. Subordination: Confirmation that the lease is subordinate to the mortgage and any future modifications
7. Representations and Warranties: Standard declarations by each party regarding their authority, lease status, and no defaults
8. Notice Requirements: Procedures for sending notices between parties, including default notices
9. Governing Law and Jurisdiction: Specification of Indian law as governing law and jurisdiction for disputes
10. Execution: Signature blocks for all parties and witnessing requirements
1. Further Assurances: Commitment to execute additional documents if needed - include when complex property arrangements exist
2. Estoppel Certificates: Requirement for tenant to provide periodic confirmations of lease status - include for commercial properties
3. Insurance Requirements: Specific insurance obligations - include for high-value commercial properties
4. Registration Requirements: Details about registration of the agreement - include when agreement term exceeds one year
5. Assignment and Succession: Rules for transfer of rights - include when parties anticipate possible ownership changes
1. Property Description: Detailed legal description of the property including boundaries and registration details
2. Lease Details: Summary of key lease terms including date, term, rent, and any modifications
3. Mortgage Details: Summary of the mortgage/loan agreement including date, amount, and key terms
4. Authorized Signatories: List of authorized signatories for each party with their designation and authority
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