Follow Us

Law.com Subscribers SAVE 30%

Call 855-808-4530 or email [email protected] to receive your discount on a new subscription.

Landlord Tenant Law Litigation

The Guaranty Law Only Guarantees A Broken Contract

A wave of legislation designed to aid tenants during the COVID-19 pandemic has had an outsized effect on commercial landlord-tenant relations in New York City. The bill that has attracted perhaps the most attention is known as the “Guaranty Law.”

X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

A wave of legislation designed to aid tenants during the COVID-19 pandemic has had an outsized effect on commercial landlord-tenant relations in New York City. The bill that has attracted perhaps the most attention is NYC Administrative Code § 22-1005, known as the “Guaranty Law.” The Guaranty Law canceled the guaranty obligations of qualifying guarantors and left landlords without a remedy to recoup their losses. Notably, the Guaranty Law has been interpreted inconsistently and is the subject of a constitutional challenge in federal court. This has added to the uncertainty of both landlords and tenants, whose obligations and responsibilities remain unclear.

To continue reading,
become a free ALM digital reader

Benefits include:

*May exclude premium content

Thank you for contacting ssalkin!

Your article was successfully sent.

Read These Next