Legal Question in Landlord & Tenant Law in New York

ethic requires for landlord re commercial lease?

My gentleman landlord of 15 years passed away and his son and estate now handle his commercial properties. For 3 months I negotiated a new lease with the new lawyer, representing the estate, and procured the right to reassign the lease in exchange for above market rent hikes. The lease came to me with a clause that requires a payment of 50% of what I sell my business for, which I had intended to do, and why I asked for the right to reassign the lease. This gives a whole meaning to getting a pound of flesh, and I believe it is highly unusal, and unethical, but is he within his legal rights to do this with no prior communication? Thank you for any ideas you have to solve this problem.


Asked on 9/25/06, 1:42 pm

1 Answer from Attorneys
Stephen Loeb Law Office of Stephen R. Loeb

Re: ethic requires for landlord re commercial lease?

He has a right to ask, you have a right to refuse. That's the purpose of negotiation.

Should you like to discuss this or any other legal matter, you can e-mail me for more information about low cost face-to-face, on-line, or a telephone consultation with a lawyer in our office.

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Answered on 9/25/06, 1:44 pm


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