Commercial Tenant Notifications: Priorities, Pitfalls and a Landlord's Bankruptcy Roadmap

Whether the rights and obligations of a commercial lease can be enforced comes down to the landlord providing the appropriate notice and taking the necessary steps to ensure its priority.

Despite the obvious importance, the failure to adhere to the proper notice requirements and or establish priority are common place. As a result, landlords find them themselves in a situation where they are unable to enforce the agreement that they invested significant time and money in putting in place. The purpose of this topic is to provide commercial landlords, property management companies and attorneys with insight as to when and how notices should be given. In addition, in the event that the tenant declares bankruptcy, you will learn crucial information on what actions must be taken to best secure its leasehold interest. You will come away with a better understanding of the extent and the scope of the automatic stay, the assumption/rejection process, and the types of claims landlords may assert, among other things.