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Short-Term Leases Can Create Value Uncertainty
If the pandemic has infused business with any one idea, it's flexibility. Companies need to be flexible to get work done. Employees want flexibility to work but also be safe and manage personal and family obligations.
Flexibility has largely come down to space and uncertainty. When executives aren't sure what normal will look like in where employees work, they can't tell how much office space they need. While some sectors of commercial real estate are stable in terms of tenants, others are a question. That's leading to some pushing for shorter-term leases — ironically, both by tenants and some owners — as well as headaches for underwriting as the predictability of tenancy is up in the air.
The impact short-term leases could have on overall markets depends on their number, and that's tough to estimate, as it can vary greatly by location and type. Visual Lease is a proptech company that tracks several hundreds of thousands of leases in its systems. CEO Marc Betesh says that, first, it's still early to see what's happening, as given average lease turnovers of about five years, only roughly 20% of them have been at a natural point of renegotiation.
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Major Differences In UK, U.S. Copyright Laws
This article highlights how copyright law in the United Kingdom differs from U.S. copyright law, and points out differences that may be crucial to entertainment and media businesses familiar with U.S law that are interested in operating in the United Kingdom or under UK law. The article also briefly addresses contrasts in UK and U.S. trademark law.
The Article 8 Opt In
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Legal Possession: What Does It Mean?
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The Stranger to the Deed Rule
In 1987, a unanimous Court of Appeals reaffirmed the vitality of the "stranger to the deed" rule, which holds that if a grantor executes a deed to a grantee purporting to create an easement in a third party, the easement is invalid. Daniello v. Wagner, decided by the Second Department on November 29th, makes it clear that not all grantors (or their lawyers) have received the Court of Appeals' message, suggesting that the rule needs re-examination.