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Your commercial tenant went dark and dropped the keys off before the expiration of the lease, leaving you with back rent on the books and no tenant paying ongoing rent. Distress in the retail leasing sector under pressure by ecommerce is making this an increasingly likely scenario. Against a tenant who is no longer in possession, a landlord-tenant summary proceeding is not an option to recover the back rent, and it never could get future rent. But with an effective rent-acceleration clause and good-guy guaranty, there is a little-used legal procedure that could allow the landlord to quickly pursue the guarantor for lost back and future rents: a motion for summary judgment in lieu of complaint.
By Janice G. Inman
Bankruptcy is a fact of life in the United States. When it happens, the treatment of a lease as either residential or non-residential may be crucial to all parties -- landlords, tenants, subtenants and their counselors.
By Barry M. Klayman and Mark E. Felger
In a recent decision, Bankruptcy Judge Christopher S. Sontchi addressed the question of whether a Chapter 11 debtor, the tenant under a commercial lease, could exercise an option to renew the lease during the bankruptcy proceedings, even though the debtor was in default under the lease and the lease specified that it could not be renewed if defaults existed at the time the option was exercised.
By David B. Saxe and Danielle C. Lesser
Is This The End of the ‘Yellowstone’ Doctrine?
Recently, New York’s Appellate Division, Second Department, acknowledged that commercial landlords may employ a strategy that prevents tenants from exercising Yellowstone rights, which enjoin the landlord from terminating the lease or commencing a summary proceeding.
Slip-and-Fall Victim Cannot Recover from Landlord or Tenant