Total Credits: 1.2 Self Study
Recording available after original program date, 4/6/2023
When a commercial real estate tenant defaults on a lease, there is substantial risk not only for the tenant but also for the landlord. Though the lease may specify extensive landlord remedies, most courts will strictly construe the lease against the landlord, requiring strict adherence to notice of default and other process-related provisions in the lease. Failure to comply with these provisions and the requirements of law exposes the landlord to substantial liability, including lease termination and loss of rent, even though the tenant is in default. There are additional risks if the landlord accepts partial rent payments from the tenant or takes possession of the leasehold or tenant chattels. This program will provide you with a practical guide to tenant default under commercial leases and provide tips for drafting leases to protect landlords.
• Drafting in anticipation of tenant default
• Essential steps in providing notice of default and eviction
• Common landlord mistakes – waiver of tenant default, tenant lockouts, disposal of tenant/third party property
• Liability issues for landlord – lease termination, loss of rent, damages
• Tenant remedies for improper landlord actions
Note: This material qualifies for self-study credit only. Pursuant to Regulation 15.04.5, a lawyer may receive up to six hours of self-study credit in a reporting year. Self-study programs do not qualify for ethics, elimination of bias or Kansas credit.