Document background
The Attornment And Non Disturbance Agreement is a crucial document in Philippine real estate financing and leasing arrangements, typically used when a property owner seeks to mortgage a property that is already leased to tenants or plans to lease a mortgaged property. The agreement serves multiple purposes: it protects tenants from losing their lease rights if the lender forecloses on the property, commits the lender to honor the lease terms, and ensures the tenant will recognize the lender as their new landlord in case of foreclosure. This tripartite agreement is particularly important in the Philippine context, where it helps facilitate commercial property financing while providing security for all parties involved. The document must comply with Philippine property laws, banking regulations, and the Civil Code, particularly in relation to real estate transactions and security interests.
