Monday, March 23, 2015

I own a commercial property in NYC. Can I condition the current tenant's lease termination (his request) on a new tenant signing a new lease...

Question

I own a commercial property in NYC. Can I condition the current tenant's lease termination (his request) on a new tenant signing a new lease? So that if the new tenant backs out, the current tenant is still required to continue with the requirements of his lease?



Answer

Yes, it's just a matter of drafting. You can even keep the old tenant liable after the new lease is new tenant defaults.



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