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It has now been a couple months since the pell-mell months of July and August, when we had 13 leases, two options and multiple letters of intent to negotiate, finalize, execute or terminate for various clients in the span of a few weeks in connection with their applications for medical cannabis licensure in the state of New Jersey.
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Reset Clauses In Ground Leases
By Peter E. Fisch and Mitchell L. Berg
The purpose behind rent reset clauses is simple — to capture any change in the fair market value (and fair market rental value) of the leased property. However, the application of rent reset clauses in practice is anything but simple, and the consequences of such clauses can be significant.
Flood and Terrorism Insurance Reauthorization: Safe for Now
By Jeffrey B. Steiner and Scott A Weinberg
Federal programs have made insurance more readily accessible to protect real property in the event of a flood or an act of terrorism. These programs enable flood and terrorism insurance to be widely available at realistic price points by ensuring that the amount of the premiums payable for such insurance remain at a level that a borrower can afford, which in turn preserves the underwritten economics of the loan transaction.
Local Law Banning Music Festival Is Not Unconstitutional Restraint of Speech
By Steven M. Silverberg
A landowner challenged local zoning that banned holding a three-day music festival, arguing that the law was an unconstitutional violation of free speech and void for vagueness.
Tips to Minimize Landlord’s Exposure When a Commercial Tenant Files Bankruptcy
By Carmen Contreras-Martinez
Because bankruptcy can add significant expenses and increase the time it takes to remove a delinquent tenant, landlords should not allow tenants to fall far behind on rental payments. Here are some tips on how to address the issues raised by a bankrupt tenant.
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