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Subordination, Non-Disturbance, and Attornment Agreement (SNDA)
An agreement between tenant, landlord, and lender protecting tenant tenancy rights in foreclosure while subordinating the lease to lender liens.
An SNDA is a tripartite agreement between a tenant, landlord, and landlord's lender establishing that the tenant's leasehold rights remain subordinate to the mortgage lien, guaranteeing that the lender will not disturb the tenant's tenancy upon mortgage foreclosure provided the tenant is not in default, and requiring the tenant to recognize the lender as the new landlord.
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