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When negotiating a commercial lease, tenants and landlords need to consider potential scenarios that could alter the tenancy, such as tenant insolvency, death of a tenant or a shift in business conditions. An assignment or sublease clause can help mitigate the tenant’s potential liability for the full lease term. However, despite alleviating some liability pressure, tenants are not fully released from their liability after subletting or assigning their leases. Similarly, landlords traditionally maintain control over tenant changes to secure steady rental income and to mitigate risk. Complexities arise in the case of corporate tenants undergoing mergers or consolidations or instances where the lease is sold as part of a business sale. A tenant’s right to assign or sublet should be given careful thought to ensure it is of practical value.

As real estate professionals, understanding these intricacies in lease agreements can offer opportunities to better manage risk, anticipate potential issues, and improve terms for key transactions. Friedman on Leases clarifies and analyzes the full range of lease provisions and conceivable landlord-tenant situations to give you unsurpassed practical instructions on how to negotiate and draft airtight agreements that protect your clients’ rights and minimize their liability exposure. Featuring numerous case decisions with commentary and valuable sample lease clauses and agreements, Friedman on Leases will provide foundational knowledge for novice practitioners, as well as review current and relevant developments facing seasoned practitioners in the commercial real estate field.

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