Protect Your Wallet by Limiting Common Element Costs Pass-Through

January 1, 2008
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Under a reciprocal easement agreement (REA), operating and easement agreement (OEA), or other governing document, a shopping center owner will be responsible for paying a share of the costs of maintaining the center's “common elements.” Common elements cover anything at the center that the parties to the governing document believe is beneficial to all of them, regardless of who actually owns it, explains Camilla Titterington, senior counsel of PetSmart, Inc. Typically, the parties are the center's owner and big-box retailers or an adjacent center's owner.

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