Law.com Subscribers SAVE 30%

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

Casualty: A Tenant's Perspective

By Glenn Browne
September 02, 2014

When a fire or other casualty damages a tenant's premises, especially when the premises is part of a larger retail facility like an enclosed regional mall, the rights outlined in the tenant's lease will dictate how the casualty is handled, including, without limitation, determining what obligations the landlord and the tenant have in the reconstruction of the premises, how long a landlord and a tenant will have to perform their work in order to rebuild the premises, any rent abatement that will occur and any termination rights that either the landlord or the tenant will have based upon the casualty. This article examines a tenant's perspective with regard to those topics, and offers certain insights into how a tenant should draft its lease in order to protect itself in the event of a casualty situation.

Landlord's and Tenant's Tasks Following a Casualty

Read These Next
Why So Many Great Lawyers Stink at Business Development and What Law Firms Are Doing About It Image

Why is it that those who are best skilled at advocating for others are ill-equipped at advocating for their own skills and what to do about it?

Bankruptcy Sales: Finding a Diamond In the Rough Image

There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.

The DOJ's Corporate Enforcement Policy: One Year Later Image

The 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.

A Lawyer's System for Active Reading Image

Active reading comprises many daily tasks lawyers engage in, including highlighting, annotating, note taking, comparing and searching texts. It demands more than flipping or turning pages.

Protecting Innovation in the Cyber World from Patent Trolls Image

With trillions of dollars to keep watch over, the last thing we need is the distraction of costly litigation brought on by patent assertion entities (PAEs or "patent trolls"), companies that don't make any products but instead seek royalties by asserting their patents against those who do make products.