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Assignment provisions in a commercial lease often boil down to the following seemingly simple, but more often than not complex, standard: that the lease may only be assigned or the premises subleased with the landlord's consent, not to be unreasonably withheld. The following examples of case law illustrate how courts have construed this provision under various circumstances.
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Neighborhood Garden Users May Establish Adverse Possession Claim<br>Purchaser Entitled to Return of Down Payment Upon Revocation of Mortgage Commitment After Expiration of Contingency Period<br>Law Firm Not Liable to Non-Client for Turnover of Escrow Funds<br>Law Firm Not Exempt From Claim Under RPL 265-B<br>Presumption of Due Execution Rebutted<br>Title Insurance Regulation Annulled
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Store closing or liquidation sales are a routine part of Chapter 11 cases involving retail debtors. These sales are consistently authorized by bankruptcy courts, despite lease provisions purporting to forbid them.
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City Not Estopped to Object to Nonconforming Building<br>Lawyer Advertising Billboards Not Treated As Onsite Advertisements<br>Town Not Obligated to Consider Zoning Amendment<br>East Harlem Rezoning Upheld
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Failure to Register Precludes Landlord from Collecting Otherwise Lawful Rent Increases<br>Unlawful Entry and Detained Proceeding Requires Proof of Possession
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Insurance Lapse Deemed Not Curable<br>Uncertain Method for Determining Future Rent Dooms Renewal Rights
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The Rent Regulation Reform Act provides for deregulation of rent-stabilized apartments occupied by tenants whose income exceeds the statutory threshold. When a married couple lives in the apartment, the income of both spouses counts in determining whether the threshold is met. But suppose only one spouse occupies the apartment as a primary residence. When, if ever, should the income of the other spouse be counted towards the threshold?
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Numerous shopping center developers use a “layer-cake” of financing, including state and federal tax incentives to reduce the costs of debt and equity financing. The industry correctly saw that the market value of the credits would drop once the Jobs Act become effective. Such tax cut could undoubtedly impact the ability of developers to raise equity, certainly for new projects not yet placed in service.
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Assignment of Right to Purchase Held Not Fraudulent
Features
One of the many provisions of last year's tax overhaul was the creation of a little-noticed program called Opportunity Zones, which was designed to give investors tax breaks for investments in designated areas. Now, attention is starting to pick up as the program takes shape.
