Commercial Ground Leases is a definitive guide to drafting, negotiating, and finalizing equitable, error-free leasing documents that address the needs of both landlord and tenant. It features adaptable, time-saving agreement language and contains numerous appendices, including forms of letter of intent, leasehold mortgagee protection clauses, intercreditor agreements, fee and leasehold deed of trust provisions, estoppel certificate and guaranty, and a complete ground lease with many alternative clauses.

Highlights of the new release include:

• Chapter 1: Updated discussion reviews ground lease terms and situations that necessitate their review (see section 1:4.2).
• Chapter 3: Updated discussion closely examines inflation indexing as provided in Appendix X (see section 3:4.3).
• Chapter 8: New discussion of Freddie Mac’s Multifamily Seller/Servicer Guide, specifically chapter 30, which sets requirements of ground lease mortgages (see section 8:14).
• Chapter 16: Updated discussion of exceptions to nonrecourse liability (see section 16:6).
• Appendix X: Chart 1 attempts to show how several elements of common indexing formulae would have fared over the fifty-year period from 1972 through 2021 using actual CPI data from the U.S. Bureau of Labor Statistics. Chart 2 uses the same historical CPI data, but starts the hypothetical lease term ten years later, in 1982.
• Chapter 2, Chapter 4, Chapter 5, and Chapter 10 have also been updated with the latest developments.

In addition, the Tables of Authorities and the Index have been updated.

Order a print copy today. PLI PLUS subscribers can access this title through their subscription.

For more by this treatise’s author, Jerome D. Whalen, check out the article Ground Lease Reappraisals Reconsidered published in the April 2022 issue of the PLI Chronicle.