condemnation

Lease definition

At time of war or when a municipal authority judicially has the right to take all or a portion of a property, the owner loses use of the property, and tenants can be evicted.

Internal Headline

Something you should know, but not worry about.

Why it’s in the lease

Just in case something that will never happen happens.

Risks to the tenant

Not worth the worry. Very-very rare occurrence.

What it means to the tenant

The tenant is out on the street, most times without compensation.

Points of negotiation

For major tenants, they may be permitted to participate in condemnation compensation with the proper lease language inserted.

Lease view order

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