Most people likely understand the risks of trying to rely on an oral agreement to vary the terms of a commercial lease. Nonetheless, parties often get into disputes over whether there was an oral agreement that varied the...more
In our ongoing series of blog posts, we have examined key negotiating points for tenants in triple net health care leases. We also have offered suggestions for certain lease provisions designed to protect tenants from...more
The new Extension of Government Leases Ordinance (the “Ordinance”) will take effect this Friday, 5 July 2024. In consideration of the significant number of owners affected by the expiration of Government leases from 2025...more
The recently enacted HB24-1098 in Colorado introduces significant shifts in the dynamics of landlord-tenant relationships, prompting a need for careful understanding of the new regulations and procedures regarding evictions....more
Commercial Leases and Risk The lease agreement is one of the most commonly utilized contracts in commercial transactions. Even in today’s mobile and technology-driven commercial landscape, a huge number of businesses and...more
Le 25 octobre 2023, l’Assemblée nationale du Québec a adopté le projet de loi no 17, Loi modifiant diverses dispositions principalement aux fins d’allègement du fardeau réglementaire et administratif (la « Loi »). La Loi...more
On October 25, 2023, the National Assembly of Quebec passed Bill 17, An Act to amend various provisions for the main purpose of reducing regulatory and administrative burden (Act). The Act amends several Quebec laws,...more
We previously wrote that commercial lease renewal provisions are void and unenforceable if they rely upon “market rent” with no mechanism to determine the market rent, but what happens when the renewal provision is completely...more
A Leaseback Agreement or a “rentback agreement” is an agreement between a buyer and seller of a property that permits the seller to continue living in the property for a period while paying rent to the buyer. Leaseback...more
When selling your business in Canada, you will face a long list of due diligence requests as the purchaser reviews all aspects of your business. If there is a lease, one key aspect of due diligence review will be the lease...more
In this quarter’s edition, we cover cases concerning continuing nuisance, business lease renewals, “subject to contract” and misrepresentation. We also tell you about the new Renters (Reform) Bill recently introduced to...more
A common route for property owners to effect divestiture of their real estate assets to de-risk their investments and to improve liquidity is to sell down part of the asset and form a joint venture with the buyer....more
New York bankruptcy court breaks with precedent and endorses time approach for calculating lease termination damages over rent amount approach, resulting in smaller claims for landlords. Time approach limits, and often...more
On December 5, the Massachusetts Appeals Court issued an important decision impacting commercial landlords’ ability to accelerate rent as liquidated damages after a Lessee’s default in Cummings Properties, LLC vs. Darryl C....more
This decision has confirmed that a court can grant relief from forfeiture in relation to a tenant’s option to take a new lease. It is a useful reminder for landlords that forfeiture does not apply solely to leases, and is a...more
Key Points - - Hong Kong Airlines (HKA) has announced that it is seeking to implement a restructuring of its aircraft lease obligations and other liabilities by court action in the UK and Hong Kong. - The plan...more
On March 21, 2022, the Court of Special Appeals of Maryland (the “Court”) decided in Peterbilt of Baltimore LLC v. Capitol Gateway Properties, LLC that provisions of an option to purchase (the “Option”) pursuant to the...more
1 . Aircraft and Engine Purchase and Sale - 1.1 Sales Agreements - 1.1.1 Taxes/Duties Payable Upon Execution of the Sales Agreement There are no Guernsey taxes or duties payable upon executing an aircraft or engine...more
German civil law differentiates between residential and commercial leases (Mietvertrag) and leaseholds (Pachtvertrag). Residential or commercial leases are more common than leaseholds: they grant the tenant a right to use the...more
The rise in demand for clean and renewable energy is driving the need for available rooftop space to employ solar energy systems. Because development costs have drastically decreased and the regulatory climate has become even...more
This article looks at the impact and timing of the Leasehold Reform (Ground Rent) Act 2022, the first concrete step in the government's wider residential leasehold reforms. What? The Leasehold Reform (Ground Rent)...more
Farm leases are a common occurrence on land being developed for solar and wind energy projects, due to the size and rural nature of land sought for development. While title searches will discover written leases that are made...more
The COVID-19 pandemic has made many companies reconsider their use of space, and left others unsure of future space plans. Some have turned to subleasing space, to avoid making any long term plans in uncertain times....more
Even though the increase in vaccinations and other public health initiatives have resulted in a dramatic reduction in new COVID-19 cases hinting at a possible “return to normal,” recent industry publications are starting to...more
In our last installment of the Lease Dispute Series, we talked about tenant payment of real estate taxes. Today, we’ll talk about the covenant of quiet enjoyment. North Carolina law implies a number of covenants in...more