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Nondisturbance

Word of the day
Nondisturbance
1. A mortgage clause stating that the mortgagee agrees not to terminate the tenancies of les-sees who pay their rent in the event that the mortgagee forecloses on the mortgagor/lessor’s building. Without such a clause, a lessee whose lease was signed subsequent to the mortgage could have the lease terminated by a foreclosure action.
2. When a seller chooses to keep mineral rights to conveyed property, a nondisturbance agreement is made between seller and buyer to the effect that the seller will not interfere with any building or development on the surface of the land itself.
2. When a seller chooses to keep mineral rights to conveyed property, a nondisturbance agreement is made between seller and buyer to the effect that the seller will not interfere with any building or development on the surface of the land itself.

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