Norris McLaughlin & Marcus, P.A.

Blogs > NJ Real Estate Dispute

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Apr 16, 2012

Acceptance of Rent in Default Situations

It is not unusual for me to get a call from a commercial landlord battling with a tenant who is in arrears asking whether it is OK to accept a check from the tenant for less than the rent that is owed. Typical of most answers in the law, I tell them it depends. Initially, it is important to distinguish between “receipt” of rent and “acceptance” of rent.» Read More

Nov 02, 2011

How A Letter of Credit Can Facilitate Commercial Lease Deals

A Letter of Credit (“LOC”) is simply an agreement from a bank guaranteeing that Party A’s payment to Party B will be received on time and for the correct amount.  LOC’s are used primarily in sizeable international trade transactions, i.e., a supplier in one country and a customer in another.  LOC’s, however, can also be useful, and are regularly employed, in long-term commercial lease situations.  » Read More

Feb 21, 2011

The Need for Exit Strategies in Your Commercial Lease

In good times and in not so good times, a well drafted and negotiated commercial lease will contain various exit strategies available to the landlord and tenant. These strategies will come in handy in situations where a tenant’s business is booming causing it to grow out of its current space (good times) or where the space is too big or expensive for the tenant to continue because business has dropped off considerably (not so good times).» Read More

Nov 15, 2010

Lender/Tenant Concerns When a Landlord Defaults on Its Mortgage

The Wall Street Journal recently reported that a total of $58.3 billion of the commercial-mortgage loans sliced and diced on Wall Street are currently delinquent. More than $1.4 trillion in commercial mortgages will come due by 2013, with as much as 65 percent of those deals finding it difficult to refinance. The delinquency rate of 8.58% is still nearly twice as high as the year-ago level of 4.8%. » Read More

Jun 22, 2010

The Distress of Distraint

In the previous blog entry, I highlighted the need for commercial landlords to specify in their leases the manner in which the tenant’s personal property is dealt with upon termination of the lease, either by its terms or by way of court action (summary dispossess).  Doing so gives the commercial landlord the flexibility needed to get the newly vacated space ready for re-letting.» Read More

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