In an article published in Commercial Leasing Law & Strategy, Jill Johnson discusses the top three problematic lease provisions for landlords and tenants, which are self-help repossession provisions, restrictive covenants and repair provisions. Self-help is the process of evicting a commercial tenant without resort to the judicial dispossessory procedure, and Johnson describes the positive and negative aspects of this provision. Restrictive covenants put some type of restrictions on the parties’ obligations under the lease, while exclusivity provisions give particular tenants exclusive rights to operate certain businesses in shopping centers. Each of these provisions can be tricky, and must be drafted correctly in the lease to protect all parties. Johnson explains the nature of the provisions, and gives drafting and counseling tips for landlords and tenants. For the full article, subscribers may click here.
- News & Analysis