The Leasing Hotline
Highlights of the latest commercial leasing cases from around the country.
In the Spotlight: Be on the Lookout for More 'Icebergs'
Landlords frequently run into unexpected problems — which I call "icebergs" — with their tenants, some of which were discussed in last month's Spotlight, <i>ie</i>, hazmat remediation. Here are a few more icebergs to watch out for.
Features
Letters of Intent to Lease: Valuable for Landlords and Tenants
Landlords and tenants occasionally ask whether they should bother to negotiate and execute a letter of intent to lease. Many wonder whether it might be more efficient to launch right into negotiating the lease itself. The investment in negotiating a letter of intent to lease will almost always pay quick dividends for landlords and tenants. The dividends may be in the form of an early discovery of a lack of agreement on an important issue that will allow the parties either to resolve it quickly or decide to terminate further negotiations and part ways. The more details sorted out during the letter of intent phase, the greater the likelihood of a smoother and successful consummation of the lease. Finding the proper balance of detail to include at the letter of intent phase is often a function of the nature and size of the transaction and the sophistication and leverage of the parties involved. This article is intended to help landlords and tenants consider what they may want to include in their letters of intent to lease.
Features
Retail Property Values and Land Use Regulation: Judicial Approaches to Measuring Diminution of Value and Strategies to Redress Loss of Property Value
Part One of this article discussed the <i>Penn Central</i> multifactor takings test. The conclusion addresses the "whole parcel" rule announced in <i>Penn Central</i> as well as the two-part takings test established by <i>Agins v. City of Tiburon</i>, 447 U.S. 255 (1980) and suggests strategies to redress loss of property values due to regulations.
Features
Index
Everything in this issue, in an easy-to-follow format.
Cooperatives & Condominiums
In-depth analysis of a recent key case.
Real Property Law
Recent rulings of importance to you and your practice.
Landlord & Tenant
Recent rulings of interest to you and your practice, with key analysis.
Features
Title Insurance for the Mezzanine Lender
Present-day real estate financing is significantly more complex than traditional financing. Sobered by borrower bankruptcies and compelled by rating agency requirements in the modern day era of mortgage securitizations, lenders are now looking to "mezzanine loans" to bridge the gap between senior debt and borrower equity. A mezzanine loan will often cover 50% to 90% of the equity required to acquire a property. In order to secure the repayment of a mezzanine loan, a lender customarily requires a pledge of the partnership or membership interests of the property owning entity.
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MOST POPULAR STORIES
- The Availability of Self-Help Evictions to Commercial LandlordsA landlord may re-enter leased commercial premises peaceably, without resorting to court process, in those states where it is permitted, if the right to do so is expressly reserved in a commercial lease, either a) upon the tenant's defaulting on the payment of rent or other lease terms, or b) upon termination of the lease or the tenant's abandoning the premises.Read More ›
- Supreme Court Rules Rejection of Trademark License Does Not Rescind Rights of LicenseeMission Product Holdings, Inc. v. Tempnology, LLC The question is whether a debtor's rejection of its agreement granting a license "terminates rights of the licensee that would survive the licensor's breach under applicable nonbankruptcy law."Read More ›
- Bankruptcy Court Cannot Surcharge Credit Bidding Asset Buyer with Expenses of SaleExplaining that the "bankruptcy court had no jurisdiction to take such action," the Fifth Circuit also vacated the district's court's improper ruling that the bankruptcy judge could enter a personal judgment against the asset buyer.Read More ›
- Second Circuit Rejects Arbitration of Debtor's Asserted Discharge ViolationA bankruptcy court properly denied a bank's motion to compel arbitration of a debtor's asserted violation of the court's discharge injunction, the U.S. Court of Appeals for the Second Circuit held.Read More ›
- The DOJ's Corporate Enforcement Policy: One Year LaterThe DOJ's Criminal Division issued three declinations since the issuance of the revised CEP a year ago. Review of these cases gives insight into DOJ's implementation of the new policy in practice.Read More ›