Section 1 Introduction

• Library: Real Estate Leasing and Landlord-Tenant Actions and Remedies 2011

Although it is always important for counsel to know the law, experienced practitioners understand that the law is only one factor to consider when drafting agreements. Commercial lease transactions remain largely unregulated, and the landlord and tenant have a great deal of freedom to structure their agreement as they deem appropriate. Counsel engaged to assist with a commercial lease is expected to understand the law and to advise the client on legal issues when appropriate. But much of the time spent working on commercial lease transactions will involve negotiating business terms or drafting changes to lease forms to reflect the business agreement of the parties. Most of this chapter is devoted to a discussion of various issues relating to the preparation of the written instrument setting forth the agreement of the parties. Other sections address issues relating to recording of leases, assignment of leases, security deposits, and lease guarantees. A lease checklist is contained in §1.31 below. For a...