What is a 'non-disturbance agreement' (NDA) in Delaware commercial leasing?
Why A lender's agreement that, in the event of foreclosure, the tenant's lease will be recognized and the tenant will not be disturbed provided they comply with lease terms Is Correct
Answer B: A lender's agreement that, in the event of foreclosure, the tenant's lease will be recognized and the tenant will not be disturbed provided they comply with lease terms
Exam Tip: Escrow & Title
Escrow questions test the neutral third-party role and the sequence of closing events. Remember that the escrow agent acts as a dual agent for both buyer and seller and cannot advocate for either side.
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Key Terms to Know
The annual income generated by an income-producing property after subtracting operating expenses, but before debt service.
Purchase AgreementA legally binding contract between a buyer and seller that outlines the terms and conditions of a real estate sale.
Private Mortgage Insurance (PMI)Insurance required by lenders on conventional loans with less than 20% down payment, protecting the lender — not the borrower — against default.
DeedA written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
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