Leasing Tips for Commercial Landlords and Tenants: Who Owns the "Fixtures" When the Lease Expires?
When a lease expires, it is not uncommon for landlords and tenants to dispute what constitutes the landlord's property and what constitutes the tenant's property, even when sophisticated parties and equally sophisticated leases are involved. Ownership disputes also can arise when the tenant defaults and the landlord sues to terminate the lease and recover possession of the premises. What constitutes the "premises" is not always as clear as one might think, however.
This article by Christopher Tesar, counsel at Blank Rome, is one in a series of articles written for Blank Rome Real Estate's quarterly Foundation newsletter. To view the other articles in the July 2015 edition of Foundation, please click here.