Law.com Subscribers SAVE 30%
Call 855-808-4530 or email [email protected] to receive your discount on a new subscription.
A Tenant's Perspective on SNDAs: Non-Disturbance Is Not Enough
Part One of this article, last month, outlined the basic elements of a subordination, non-disturbance and attornment agreement (SNDA), which regulates two competing interests in the same property — tenant's right to possess its premises pursuant to its lease and mortgage lender's security interest in that same premises. Part Two explains the differences between the concepts of "non-disturbance" and "recognition," while contending that lease recognition is more important to the tenant than not having its possession disturbed.
Personal Covenants vs. Real Covenants
A covenant is simply an agreement. An in personam covenant binds the person who grants the covenant, whereas an in rem covenant binds a thing. Black's Law Dictionary indicates that "in personam" is a Latin phrase meaning "against a person" and that "in rem" is a Latin phrase meaning "against a thing." In personam, and In rem, Black's Law Dictionary (9th ed. 2009). In the real property context, in rem covenants are sometimes referred to as "real covenants" whereas in personam covenants are "personal covenants." A personal covenant only binds the person who makes the covenant and any successor who expressly assumes that covenant. In contrast, a real covenant binds the real property itself and is sometimes said to "run with the land." Any person who succeeds to the ownership of the property will also be bound to honor the real covenant, whether or not he or she expressly agrees to assume it, so long as he or she has actual or constructive notice of the covenant.
This premium content is locked for Entertainment Law & Finance subscribers only
ENJOY UNLIMITED ACCESS TO THE SINGLE SOURCE OF OBJECTIVE LEGAL ANALYSIS, PRACTICAL INSIGHTS, AND NEWS IN ENTERTAINMENT LAW.
- Stay current on the latest information, rulings, regulations, and trends
- Includes practical, must-have information on copyrights, royalties, AI, and more
- Tap into expert guidance from top entertainment lawyers and experts
Already a have an account? Sign In Now Log In Now
For enterprise-wide or corporate acess, please contact Customer Service at [email protected] or 877-256-2473
Why So Many Great Lawyers Stink at Business Development and What Law Firms Are Doing About It
Why is it that those who are best skilled at advocating for others are ill-equipped at advocating for their own skills and what to do about it?
Bankruptcy Sales: Finding a Diamond In the Rough
There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.
The DOJ's Corporate Enforcement Policy: One Year Later
The DOJ's Criminal Division issued three declinations since the issuance of the revised CEP a year ago. Review of these cases gives insight into DOJ's implementation of the new policy in practice.
A Lawyer's System for Active Reading
Active reading comprises many daily tasks lawyers engage in, including highlighting, annotating, note taking, comparing and searching texts. It demands more than flipping or turning pages.
Protecting Innovation in the Cyber World from Patent Trolls
With trillions of dollars to keep watch over, the last thing we need is the distraction of costly litigation brought on by patent assertion entities (PAEs or "patent trolls"), companies that don't make any products but instead seek royalties by asserting their patents against those who do make products.