In The Courts
May 02, 2005
National cases of interest to you and your practice.
Landlord & Tenant
April 28, 2005
Recent rulings of importance to you and your practice.
Is It a Condo or a Co-op?
April 28, 2005
Not long ago there was a movement afoot to turn co-ops into condominiums due to the supposed benefits they offered, including the lessened economic interdependence resulting from absence of any blanket mortgage or real estate tax lien. Although such transformations never gained traction, in recent years condominiums have become market darlings (accounting for nearly all new construction and conversions), most notably because of their perceived let-freedom-reign philosophy, particularly the ability of owners to buy, sell, and lease without board intervention. Yet such relative independence may soon be more illusory than real as condo boards seek to assume powers traditionally reserved for their co-op brethren, and unit owners find themselves lacking legal protections available to shareholders.
Don't Forget the Boilerplate: Not All Standard Miscellaneous Provisions Are Standard
April 28, 2005
After extensively reviewing or drafting the "substantive" provisions of a lease, it is tempting to overlook the so-called "boilerplate" provisions usually found at the end of the lease. These provisions typically are placed innocuously in the "Miscellaneous" section of a lease, thereby furthering the impression that such provisions are standardized and of little importance. Such boilerplate provisions are not nearly as uniform and standard as one might think, however, and numerous differences can be found in Miscellaneous provisions depending on whether the lease is drafted on behalf of the landlord or the tenant. It is imperative, therefore, that the boilerplate provisions of a lease are carefully reviewed by both parties to ensure that such provisions accurately and completely set forth each party's understanding of the lease terms.
Mass Transfers and Tenant Chain Sales: Advice for Landlords
April 28, 2005
The rumor that the retailing giant, Target Stores, may be taking over one of Canada's oldest and most venerable department store retailers, the 334-year-old Hudson's Bay Company ("The Bay"), and/or its junior department store discount division, Zellers, has left many Canadian landlords scrambling to review their leases in order to ascertain their rights. Many landlords will find that Target may be able to slip into The Bay's shoes without the necessity of having to obtain the landlords' consent to the transaction. Target's entry into Canada may prove to be as seamless and effortless as Wal-Mart's successful entry into the Canadian market a decade ago through its subleasing of stores from F.W. Woolworth & Company, a feat that was achieved for the most part without the necessity of landlord consent.
The Leasing Hotline
April 28, 2005
Highlights of the latest commercial leasing cases from around the
Lease Termination Agreements: Get Out Quickly, But Carefully
April 04, 2005
Regardless of the route a landlord and tenant take to arrive at the mutual decision to terminate a lease, the final steps will require execution of a lease termination agreement. Sometimes, in their haste to get out quickly, landlords and tenants overlook many issues they should consider before signing. This article will help landlords and tenants continue to get out quickly, while preventing them from overlooking issues they should consider before executing such an agreement.
