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Permitted Occupant-Space Sharing Arrangement

“Notwithstanding anything in this Lease to the contrary, if Tenant is not then in monetary or material non-monetary default hereunder beyond any applicable notice and cure periods, Tenant shall have…

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Assignment & Subletting: Knowing Your Rights

Part 12 Assignment & Subletting: Knowing Your Rights Previous Chapter Table of Contents Next Chapter To quote the late and great visionary Steve Jobs, “Great things in business are never…

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Subleasing Risks & Rewards (Part 1 of 2)

Part 14 Subleasing Risks & Rewards (Part 1 of 2) Previous Chapter Table of Contents Next Chapter Welcome my leasing amigos to the first part of what actor, writer, advocate…

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Subleasing Risks & Rewards (Part 2 of 2)

Part 15 Subleasing Risks & Rewards (Part 2 of 2) Previous Chapter Table of Contents Next Chapter Paraphrasing what my friends from Guns N’ Roses would say (okay they’re not…

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Assignment & Subletting Conditions (Part 7 of 15)

Landlord Control and Setting Standards Introduction: When it comes to an assignment & subletting clause, the “absolute control” that most landlords desire in determining whether the tenant may effect an…

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Subleasing Risks & Rewards (Parts 14 & 15 of 15)

Introduction: In a sublease, generally stated subtenants would prefer: (1) below market rents; (2) pre-built office, industrial or retail space without the necessity of large capital expenditures; (3) the potential…

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A

Abatement: The reduction or elimination of a portion of rent during the lease term. Commonly referred to as “free rent,” “rent abatement” or a “rent concession.” An abatement may be…

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D

Dark Shell: See “Cold Shell.” Deed in Lieu of Foreclosure: A deed by which a borrower voluntarily gives title to real property to the bank (i.e. the mortgagee) in exchange for the…

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L

Land Lease: See “Ground Lease.” Landlord Approval | Landlord Consent: A situation in which a tenant must get the permission of landlord before proceeding with its course of action. Generally, situations…

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P

Partial Lien Waiver: A document executed by a contractor or subcontractor notifying not only the party making payment to the contractor or subcontractor but also to the property owner, bank,…

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R

Real Estate Tax (Escalations): Provision in lease agreements where tenant agrees to pay its pro-rata share of any increase in real estate taxes on the leased property over and above a…

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S

Sale-Leaseback: A real estate sales transaction in which the owner of a property sells the property to a buyer, and after the closing of title to the property, the seller…

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Top 20 Assignment and Subletting Provisions

Tenant’s right to sublease and assign; What a tenant’s written request to landlord for consent should include; When a landlord’s time to respond to a tenant’s request for assignment and…

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Theory #2

Theory #2 The Snagglepuss, Groucho Marx, The Clash & Steve McQueen Great Escape Theory Previous Chapter Table of Contents Next Chapter Much as one needs to have an exit strategy…

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