Rent Acceleration Clauses in New York
June 02, 2015
When is a rent acceleration clause in a commercial lease enforceable? New York's Court of Appeals gave an answer that is unlikely to be helpful to anyone but litigators: A rent acceleration clause is enforceable unless it constitutes a penalty. The court, however, provided little guidance about when a rent acceleration clause would constitute a penalty.
The 'Representations, Warranties and Covenants' Triumverate
May 02, 2015
Many retail leases contain provisions in which a party to the lease "represents, warrants and covenants" to some proposition. These three terms are often used together, as if the drafter were hoping to cover all bases by the belts-and-suspenders approach. It is quite possible, however, that many attorneys are not sure what bases they actually need to cover, so they throw in all the words just in case.
Is Your TIC Client a Candidate for Conversion to DST?
May 02, 2015
Tenancy in Common (TIC) arrangements are reaching maturity. This article explains the reasons converting to a DST may facilitate a refinancing, and discusses factors to keep in mind when considering the conversion of a TIC to a DST, most notably certain leasing limitations.
Real Property Law
May 02, 2015
Discussion and analysis of several important decisioins.
<b><i>In the Spotlight:</i></b> Frustration with ADA Lawsuits
May 02, 2015
There is now a cottage industry surrounding the filing of ADA lawsuits that has spread from Florida and California to the rest of the country. If it is not in your town or your state, it will be soon. Many of these claims are being brought by serial litigants who work frequently with the same lawyers.
Does a Broker's Tail Ever Stop Wagging?
May 02, 2015
A "tail period" is a standard clause in a listing agreement that requires the broker to register certain parties or transactions and a period of time during which the broker shall be protected and recognized as the broker for the transaction, entitled to be paid its commission pursuant to the listing agreement.
Is It Time to Rebuild the U.S. Franchise Regulatory System?
May 02, 2015
If you took a snapshot of all the laws and regulations governing franchising in the United States in 1979, and then took another snapshot of all the laws and regulations governing franchising today, you would find them very similar. While the rest of the world, including franchising, has been dynamic and constantly changing, franchise regulation has been, essentially, static.
