Make Owner's Right to Terminate a One-Time Opportunity

April 26, 2012
| Share | Print

Your lease will specify under what circumstances you and the owner may terminate the lease. It will also spell out the procedure you both must follow to do so—for example, by giving 30, 60, or 90 days' written notice. If the provisions in your lease that govern termination rights are drafted ambiguously, you may inadvertently give the owner an ongoing right to get out of the deal, rather than the one-time right that you intended. For example, you might intend to limit the owner's right to terminate to the occurrence of one event.

Full Article Access:

Full access to complete articles from Commercial Tenant's Lease Insider is for subscribers only.

Not yet ready to subscribe?