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Real estate industry

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Subordination without nondisturbance: a one-sided marriage

Article Abstract:

Mortgage lenders require that landlords negotiate leases with subordination clauses. The clauses make tenants' rights subordinate to all others, particularly to those of a subsequent lender or investor. Tenants negotiating leases must insist on some nondisturbance protection to avoid exposure to lease termination. The issues of timing of nondisturbance rights, the landlord's defaulted obligations, prepaid rents and exemptions of mortgagee obligations should be addressed.

Usage, Negotiation, mediation and arbitration, Contracts, Landlord and tenant, Leases, Landlord-tenant relations, Subordinated debentures

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The 1994 Bankruptcy Reform Act strengthens the position of creditors

Article Abstract:

The real estate industry will benefit greatly from the Bankruptcy Reform Act of 1994 which became effective on October 22, 1994. The new law is the first bankruptcy reform legislation since 1978 and it encompasses individual, business and government bankruptcies. The law deals with specific aspects of the real estate industry ranging from real estate taxes and mortgages, to liens on rents, lessee rights, single-asset real estate and hotel rents.

Bankruptcy law

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Impairing the remedy of stipulated damages

Article Abstract:

A 1998 case in the New Jersey Appellate Division determined that customary liquidated damages clauses in lender and landlord contracts may not be enforceable. Borrowers and tenants will be able to challenge these clauses and force lenders and landlords to prove that their stipulated damage amounts are valid.

United States, Liquidated damages

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