SNDA

A tri-party agreement — Subordination, Non-Disturbance and Attornment — between landlord, tenant and lender.

SNDA stands for Subordination, Non-Disturbance and Attornment Agreement. It defines the relationship between a tenant and a landlord's lender if the lender exercises remedies against the property.

The three components

Subordination: establishes the priority of the lease relative to the lender's interest.
Non-disturbance: can protect the tenant's right to remain in the premises.
Attornment: requires the tenant to recognize a successor owner or lender as landlord.

Subordination

All terms

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