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When Reviewing a Lease, Consider Using Non-Legal Professionals
When attorneys prepare a lease, it may be easy to forget that there are other professionals out there who can (and should) assist them. Just because the lease is a “legal” document does not mean that a lawyer should negotiate a deal without the help of other players on his/her real estate “team.” Without the assistance of a lawyer's teammates, an attorney may not be providing nearly as effective legal counsel for his/her client as s/he should be. In fact, many of the best attorneys understand the importance of utilizing a group of experts when they review a lease. This article focuses on two of the most frequently misunderstood areas of a lease: insurance and construction provisions.
Insurance Provisions
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Risks of “Baseball Arbitration” in Resolving Real Estate Disputes
“Baseball arbitration” refers to the process used in Major League Baseball in which if an eligible player's representative and the club ownership cannot reach a compensation agreement through negotiation, each party enters a final submission and during a formal hearing each side — player and management — presents its case and then the designated panel of arbitrators chooses one of the salary bids with no other result being allowed. This method has become increasingly popular even beyond the sport of baseball.