Category Archives: Real Estate

Treatise Update: Friedman on Leases

Friedman on Leases (Sixth Edition) clarifies and analyzes the full range of lease provisions and conceivable landlord-tenant situations to give readers unsurpassed practical instruction on how to negotiate and draft airtight agreements that protect clients’ rights and minimize their liability exposure.

Highlights of the latest update—Release #9—include:

  • Chapter 12, Landlord’s Services and Other Obligations. Updated discussion underlines the importance of expressly specifying in the lease any services that the tenant expects to receive.
  • Chapter 13, Condemnation. Updated discussion underlines the importance for a landlord, if it is the landlord’s intent, to expressly state in the lease that upon condemnation, the lease automatically terminates (or terminates at landlord’s option) and the tenant waives any right to the condemnation award.
  • Chapter 14, Renewals. Updated discussion covers Minnesota’s statutory provisions barring retaliatory eviction, but that apply only to retaliation for complaining to a government agency or filing a suit, not complaining to the landlord.
  • Chapter 15, Purchase Options. Updated discussion includes an example of a purported election that is ineffective because it did not conform to the lease.
  • Chapter 16, Default by Tenant. New discussion explores the extent to which courts will enforce a tenant’s waiver of certain rights if the waiver is expressly set forth in the lease, and agreed upon by the parties.
  • Chapter 17, Exculpatory Clauses. Updated discussion covers how different states handle exculpatory clauses, including Alabama, California, Illinois, and Pennsylvania.
  • Chapter 21, Distraint, Landlords’ Liens and Tenant Security. The updated discussion underlines the importance for a tenant to request during lease negotiations that landlord’s assignee is required to specifically assume landlord’s obligations with respect to the return of the security and the landlord is only released if it actually delivers tenant’s security deposit to the grantee and provides tenant with notice of such transfer.
  • Chapter 25, Fixtures. Updated discussion provides another sample provision in a lease with strong tenant protections for fixtures.
  • Chapters 11, 18, 20 & 22–24 have been updated to incorporate the latest case development. To aid in your research, the Table of Authorities and Index have also been updated.

Order a print copy today.

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Commercial Ground Leases: Now in its 30th Year!

Since the publication of its first edition in 1988, Commercial Ground Leases has been helping real estate professionals draft, negotiate, and finalize equitable, error-free commercial ground lease documents that address the needs of both landlord and tenant, providing clear explanations of complex issues in a framework that makes each individual subject easy to find. This one-stop volume also includes several valuable appendices that offer time-saving sample agreement language.

Commercial Ground Leases covers all the critical areas that participants in a commercial real estate development project need to know about in order to resolve any ground lease issues that may arise.

Recent updates to the third edition include:

Chapter 4, Tenant Financing: General Updated section 4:5.3 reviews the risks posed by leasehold mortgages to the landowner.

Chapter 6, Leasehold Financing A new section, 6:7.1[G], reviews the inclusion in the ground lease and in leasehold mortgage documents of a waiver by the ground lease tenant/borrower of any rights to a claim for damages against either the landowner or any leasehold mortgagee arising from any new lease into which they may enter.

Chapter 7, Bankruptcy Updated section 7:3.2[C] reviews stub rent and whether the past due rent for the entire month is treated as unpaid pre-petition rent or if the portion of the rent attributable to the period after the filing date to the next rent due date is includible as a priority administrative expense.

This title is available on PLI PLUS, our research database.  If you’d like to order a print copy, please email libraryrelations@pli.edu or call 877.900.5291.

 

Treatise Update! Commercial Ground Leases

Including adaptable time-saving sample agreement language, 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 covers the full range of relevant commercial ground leasing issues, including:

Appendices include 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.

New to this release is Chapter 2A, Reappraisal of Ground Rents, which provides an expanded discussion of ground rent reappraisals, with coverage of the various appraisal methods.

The updated Treatise is available on PLI PLUS, our online research database.  If you’d like to order a print copy, please email libraryrelations@pli.edu or call 877.900.5291.