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State and local governments grant tax-exempt status to properties that are used for certain activities, including religious and charitable purposes. Properties owned by government and educational institutions are tax-exempt as well, and these exemptions can extend to lessees of such property under certain circumstances, such as when the property continues to be used for a public purpose and such use is related to the function of the lessor entity.
10 Categories of Provisions to Consider in any Commercial Lease
By Alan Nochumson
Part One of a Two-Part Article
When entering into a lease for commercial space, there are some items that should not be overlooked. Landlords and tenants alike should make sure that the following things are addressed in the lease, one way or another.
Inheriting Tenants in Default?
By Ira Fierstein and Michelle Palka
An Illinois Appellate Court recently ruled in favor of a commercial tenant after a new owner acquired a commercial building and attempted to collect accrued unpaid rent owed to the previous landlord.
A Clash Between ‘Free and Clear’ and Tenants’ Rights Under the Bankruptcy Code’s Section 365(h)
By Albena Petrakov
With the recent carnage in the retail industry, including Sears and many other retailers of all shapes and sizes, a lot of attention goes to the fate of landlords when their tenants seek bankruptcy protection.
By ssalkin
First Court’s Lack of Jurisdiction over Cause of Action Means Second Action Is Not Barred
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