This office lease clause is a condemnation clause that illustrates a mild effort to deal with some of the issues In the event the whole of the building or a substantial part of the building is condemned.
Condemnation Clause In Lease
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The government condemns all acts of terrorism. The country condemns the use of violence on prisoners. The school condemns cheating, and any student caught cheating will be expelled. City officials condemned our apartment building and forced us to leave.
Condemnation lease clauses may provide for leasehold termination, leasehold extension options, restoration obligations, apportionment, bonus value, abatement of rent, and may address relocation rights. It is often best to simply provide that the tenant may pursue all available remedies under common law.
Essential Lease Clauses In Your California Rental AgreementRental Agreement vs. Lease.Ownership of Inhabitancy.Mode of Communication.Description of Rental Property.Rent.Deposits & Fees.Repairs and Maintenance.Restricting tenant's illegal activities.More items...?
Reletting a Rental PropertyRe-letting the property voids the original lease, and releases the original tenant from any continuing obligations. The relet to another tenant establishes an entirely new contractual relationship between the new tenant and the landlord.
In the wake of government orders closing businesses, the often-overlooked condemnation clause in real estate leases may be important. Typically, a condemnation clause permits a landlord or a tenant to either terminate the lease or abate the rent in the event of a government "taking" of the leased property.
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Taking, then the option to terminate lapses and this Lease continues in full effect. The trial court concluded that the condemnation of the leasehold interest triggered the provisions of the condemna- tion clause, which terminated the lease and.Complete condemnation terminates a lease because there is no housing left for a tenant to live in. If a lease contains a condemnation clause spelling out the basis for dividing a condemnation award, such a clause will govern.