Legal Question in Real Estate Law in New York

Re: Change of Landlords, do I have to renegotiate lease

Dear Sir or Madam:

As to your query regarding the legality of a generic lease for your business/residence: a review of the lease would be required to determine its enforceability. As to whether your landlord can require you to re-negotiate: this is a question that can only be answered by reviewing both the lease and the zoning for your space--however, generally speaking, you cannot be forced to renegotiate a valid lease during its term (of course, as the term winds down, you will need to renegotiate renewal). So, if the lease is short term (less than 3 years, say) you may want to strategically think about renegotiating now as you have the most leverage during the pendancy of your tenancy. Questions? Feel free to give me a call at 917.806.6350 to discuss.

Regards,

John K. Friedman, Esq.

Re: Change of Landlords, do I have to renegotiate lease

As to the "generic" nature of your lease it is difficult to give advice without first reviewing the lease. As to a new landlord requiring you to renegotiate, unless you are at the end of your term, you will generally not be required to renegotiate a lease upon sale of the building to a new landlord, unless your lease provides for same, which is unusual. If you are however near the end of the term of the lease then you will probably have to renegotiate.