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Is a 'Lease' a Lease, or Something Else?

By Warren A. Estis and Michael E. Feinstein

One would typically assume that an agreement labeled as a “lease,” and designating the parties as “landlord” and “tenant,” was in fact a lease and not some other type of agreement. Such an assumption may not be wise. As a New York appellate court recently instructed in Women's Interart Center v. New York City Economic Development Corp., 97 A.D.3d 17, 944 N.Y.S.2d 137 (1st Dept. 2012), a “lease” may or may not be a lease, depending on the agreement's terms.

Defining 'Net Leases'

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