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Features
Can a commercial tenant that is required to be closed during the COVID-19 pandemic be relieved of, or does it have a defense to, the obligation to continue to pay rent? The short answer is possibly yes, but the situation is unprecedented and the answer may have to be determined in litigation.
Features
There are currently several bills in various stages of being passed into law in several states as of early April, which would restrict, on a temporary basis, the eviction of commercial tenants from their leased premises for failure to pay rent, Whether these bills get signed into law and survive judicial scrutiny remains to be seen. The question then is whether a landlord may enforce the security deposit section of its lease and take the deposit should the tenant miss a rent payment.
Features
Five options available that leasing and financing can help law firms not only to deploy their business continuity requirements in the short term, but also improving liquidity now and better position the firm for their future.
Features
No one disputes that the property tax system in New York City is byzantine. In Tax Equity Now LLC v. City of New York, the First Department confronted what it viewed as a very different question: is it illegal. The court concluded that it is not, rejecting a variety of claims and leaving any reform to the legislature.
Columns & Departments
Equitable Mortgage Enjoys Priority over Mortgage Recorded After Filing of Notice of Pendency Purchaser from Church Not Entitled to Specific Performance Questions of Fact Preclude Summary Judgment on Prescriptive Easement Claims Hearing Necessary to Determine Whether Mortgagee De-Accelerated Mortgage
Columns & Departments
Loft Board Lacks Authority to Supervise Legalization Once Tenants Withdraw Application Tenant Entitled to Relief from Failure to Timely Exercise Renewal Option
Columns & Departments
Neighbor Has Standing to Seek Damages for Violation of Zoning Ordinance
Features
The coronavirus has brokers guessing as to how this will affect leasing in the short term, and a report says leasing activity is likely to have a degree of decline in transaction volumes compared to pre-crisis expectations