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• W93894713 abstract "The third person concerned with the lease as a credit instrument is in many instances the most interested person; that person is, of course, the tenant. The problems are compounded because each of the three parties, the mortgagee, the owner and the tenant, have diverse opinions as to what should be contained in the lease. The real difficulty that faces the lawyer-draftsman is in trying to satisfy all three parties. I do not mean to say that one lawyer is trying to do so, but that the lawyers between themselves are trying to satisfy the three. With regard to the use of the lease as a credit instrument, insofar as the owner is concerned, it is natural that the tenant has little or no concern as the mortgage generally follows the making of the lease and is subordinated to the position of the tenant. The only consideration that the tenant has to give is that this is a true circumstance and that he will not be dispossessed should his landlord owner fail to make payments on the loan. So long as he is allowed to remain in possession under the terms of his the tenant is not much involved in the relationship between the owner and the mortgagee. His involvement becomes only slightly more real in the event of a default when he has another person as landlord. I shall therefore not dwell on this phase of the matter, as it would seem to me to serve little purpose, except to again admonish that the tenant's representative must be sure that his position will not be wiped out by a default on the part of the owner. It is my intention instead of dwelling on this phase of the matter, to turn rather to special situations wherein the person primarily concerned with the financing is the tenant ; generally this is classified as a leasehold mortgage. These may involve situations generally described in one of the following categories: The Ground Lease; The Commercial or Space Lease ; and The Sale-Leaseback transaction. Before analyzing what would be normally required to make a lease financeable, I think it would be best to compare the lease and the commercial lease as I have used the terms herein. The ground lease, as the term implies, is of course strictly the lease of bare land. It usually involves a long term the exact term of course being a matter of negotiation, but would generally be 50 to 99 years. The 99 year limit is usually only because of statutory requirements. This type of lease is, with very few exceptions, a socalled net-net lease. By this is meant the fact that all of the expenses pertaining to the including the taxes on the real" @default.
• W93894713 created "2016-06-24" @default.
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• W93894713 date "2016-01-01" @default.
• W93894713 modified "2023-09-27" @default.
• W93894713 title "The Tenant Looks at a Lease" @default.
• W93894713 hasPublicationYear "2016" @default.
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