Carve Out Rights in Comprehensive Memorandum of Lease
If the owner of the shopping center or office building where you lease space has financial difficulties, it may be dealing with one, or even several, liens filed against the property. If you don’t have priority if the owner becomes bankrupt, you could be dramatically affected, up to and including having to move out of your space. So what can you do to protect your interests with a shaky owner? Demand that it agree to sign a “memorandum of lease” when you sign the lease with it.