Ancillary Agreements in Real Estate Transactions

Abstract

This article discusses certain ancillary but important documents in the context of two common real estate transactions: mortgage loan financings and acquisitions of income-producing real estate. In particular, the article analyzes current case law and drafting considerations relating to estoppel certificates, certified rent rolls and subordination, non-disturbance agreements (SNDAs). In addition, the article examines due diligence issues for the lender and buyer. Note: This article was co-authored with Barry Hines, Partner, Frost, Brown, Todd LLC and Everett Ward, Partner, Quarrels & Brady LLP and initially presented at the Spring Meeting of the American College of Real Estate Lawyers (ACREL).

Keywords: Mortgage, Lease, Estoppel, SNDA, Subordination, Non-Disturbance Agreements, Due Diligence