Understanding the Legal Weapons Landlords and Tenants Have in Enforcing Commercial Leases and the Secrets of How to Negotiate the Best Abatement/Deferment So Both Landlord and Tenant Are Happy
During the heart of the Covid epidemic, on July 15th 2020, Adam Leitman Bailey presented on behalf of AmTrust Title Insurance Company a virtual lecture covering and evaluating every defense that could be brought by a commercial tenant and why it would prevail or fail in a New York Court including Force Majeure, Impossibility, and Frustration of Purpose. Adam Leitman Bailey discussed the new laws and Executive Orders affecting commercial tenancies and despite these laws, how business could be conducted despite a ban on court evictions. Next, Adam Leitman Bailey discussed examples of negotiations between commercial tenants and landlords including abatements, payments, free rent and PPP loans paid to landlords. Adam Leitman Bailey went through the mind of the landlord from the lender’s point of view to the property owner to the tenant and explained each’s position and explained the purpose of the Pre-Negotiation Agreement to achieve the goal of all of the parties to reach a resolution.