Looking primarily to states like Connecticut for guidance, the Appellate Court of Maryland concluded that economic challenges stemming from COVID-19 executive orders themselves are not sufficient to establish the affirmative defenses of frustration of purpose and legal impossibility for failure to pay rent.
With the year starting out amid uncertainty and no small amount of pessimism, there are certain strategies that promise to play well amid the environment. Read on to find out what will work in 2023.
The Housing Stability and Tenant Protection Act amended the Rent Stabilization Law and, among other draconian changes, severely curtailed landlords' incentives to modernize and otherwise improve rent regulated apartments by limiting the ability to recover the costs of individual apartment improvements (IAIs) to vacant apartments.
There are several issues and terms to consider related to the development process that differentiate build to suit leases from a standard commercial lease that are important for the tenant to understand to effectively manage costs and effectively protect itself from delays in the development schedule.
Section 365 of the Bankruptcy Code, which governs the disposition of executory contracts, has specific provisions regarding the disposition of commercial real estate leases in bankruptcy, including the rights of a tenant to remain in possession of the leased premises when the landlord files a bankruptcy case and rejects the lease. But what rights does a tenant have with regard to the security deposit delivered by the tenant to the landlord?
Rent Obligations of Successor Tenant to Rent-Controlled Apartment Commences At Prior Tenant's Death Landlord Not Entitled to Attorneys' Fees Incurred In Defending Unsuccessful Class Action
Administrator's Deed Divested Distributees of Ownership Interest No Rescission of Deed When Mistake Was Not Mutual Restrictive Covenant Did Not Bar Educational Use Issues of Fact About Mortgagee's Knowledge of Fraud Precludes Summary Judgment No Private Right of Action to Enforce Food Cart Regulations
The Massachusetts Appeals Court recently reversed a judgment in favor of a landlord in a tenant default matter, finding that a provision of a commercial lease that accelerated the remaining rent as liquidated damages is unenforceable as a penalty. The opinion "brings uncertainty to thousands of existing commercial lease agreements."
In the past two years, in litigations between commercial landlords and commercial tenants, appellate courts continued to issue decisions on topics, unrelated to COVID questions, that should interest all real estate attorneys and their clients.
Absence of Itemized Statement Did Not Justify Cancellation of Co-Op Corporation's Liens Jury Trial Waiver Enforced Statute of Frauds Prevents Enforcement of Gift of Co-Op Shares Mitchell-Lama Occupant Successor Occupant Entitled to Injunction Tolling Exclusive Purchaser Period
