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Rights and Obligations of Landlords and Tenants When Sandy Damages Leased Premises

Posted in Eminent Domain, Valuation

Sandy has created a number of difficult legal problems. One issue relates to the rights and obligations of landlords and tenants when leased premises suffer casualty damage. The obligations of a landlord as an owner of a commercial property to repair and restore casualty damage are generally found in two documents – (i) a mortgage and security agreement and (ii) the lease. My partners have put together a good summary of the relevant considerations which can be found at  www.foxrothschild.com/newspubs/newspubsArticle.aspx