Part One of a Two-Part Article
This article outlines the basic elements of an SNDA and will explain 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.
Joseph I. Farca
Collecting the Legal Fees It Cost You to Collect Legal Fees
Does your New York commercial lease form expressly provide that the landlord may recover the legal fees it incurs to recover legal fees from its tenant? If not, then the landlord may be out of luck trying to recover such “fees on fees,” as they are known. But it wasn’t always this way.
Daniel J. Ansell
NY Gov. Andrew Cuomo signed legislation modifying existing rent laws and enacting significant landlord-tenant reforms. To date, the real estate industry has focused primarily on the sweeping impact the new laws will have on residential tenancies and the deregulation of rent-stabilized apartments. The reforms, however, also dramatically impact commercial tenancies by altering non-residential summary proceedings and significantly hampering the ability of commercial landlords to respond effectively and quickly to tenant defaults.
Despite State Law, Merger Extinguishes Renewal Rights of Successor in Interest
Court May Rely on Parole Evidence to Show Illegal Purpose of Sublease
Janice G. Inman
Is a property leased to a farming tenant a commercial property or an agricultural property? What about a building leased to a government entity? The distinction can make a difference in the tax laws that apply to the parcel.
When members of the military are be called into action, the impact could be felt right here at home by our commercial landlords, especially those whose tenants are composed of businesses owned or operated by a sole proprietor, or an owner with one or two employees.
Theresa A. Driscoll
Lessors who repossess property immediately prior to a lessee bankruptcy filing may be required to return such property or face sanctions by the bankruptcy court. Federal courts are currently split on the issue of whether the lessor must voluntary surrender property seized pre-petition or may hold such property until the debtor obtains an order of turnover.
Mathew B. Tully and Barry Crushell
Proper planning and the ability to pivot will help American companies with UK, EU commercial property interests.
Joshua Kopelowitz and Richard Corde
This is the third in a series of articles exploring whether parties to a commercial lease can contractually waive a tenant’s right to seek a Yellowstone injunction. In a recent ruling, the Court of Appeals, in 159 MP Corp. v Redbridge Bedford, LLC, left no doubt that a contractual waiver of a right to seek a declaratory judgment and/or a Yellowstone injunction in a commercial lease is enforceable.
Restricting a tenant’s right to transfer the property it is leasing to a third party is a key component to any lease. Many lenders require landlords to obtain lender consent before the transfer is effective. Failure to obtain such consent could lead to a landlord’s default under the terms and conditions of the loan documents, so it is imperative for a landlord to review its loan documents each time it receives a request from a tenant to transfer its interest under the lease.