Protecting Subtenant Clients in Leasing Out of Stock
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Product Details
About the Seminar - Computer Based Audio ONLY programs (No Video) - DOES NOT QUALIFY FOR CLE BIG TICKET
Subleases are by their very nature filled with substantial (and often overlooked or discounted) risk. A sub-tenant agrees to take space - office, retail, or industrial - from a sub-landlord, and is obligated to pay the sub-landlord and perform certain services. But absent additional agreement between the sub-tenant and the master landlord, the sub-tenant has no rights to assert against the master landlord even though the sub-tenant's use of the space may depend on the actions of the master landlord. This sub-tenant is also at substantial risk of losing the space if either the master or sub-landlord fails. The relationship of these parties is highly complex, making the process of reviewing master leases and drafting subleases time-consuming and filled with traps. This program will provide you with a practical guide protecting subtenants in leasing.
-Counseling sub-tenant clients about the range of risks in subleases
-How to read master leases to spot red flags for tenants
-Types of subleases - what works for bigger/smaller clients and spaces?
-Identifying master lease's control of subleasing and sublease terms
-Reviewing mater lease money provisions, use restrictions, attornment provisions, and termination
-Determining whether sublease risks outweigh the benefits
About the Speakers
Mark A. Senn is a partner in the Denver law firm of Senn Visciano Canges P.C, where he has an extensive national real estate practice, including commercial leasing, purchases and sales, title cases, condominiums, loan and workout transactions, and mezzanine financing transactions. He is the author of "Commercial Real Estate Leases: Preparation, Negotiation and Forms" (3d ed.) and "Commercial Real Estate Transactions Handbook (3d ed), both published by Aspen Law & Business. He is a member of the Board of Governors of the American College of Real Estate Lawyers and a member of the Board of the Advisors of the newsletter Commercial Lease Law Insider. He received his B.S., with distinction, from Stanford University and his J.D. from Boalt Hall School of Law at the University of California, Berkeley.
Richard R. Goldberg is a retired partner, resident in the Philadelphia office of Ballard Spahr, LLP, where he established an extensive real estate practice, including development, financing, leasing, and acquisition. Earlier in his career, he served as vice president and associate general counsel of The Rouse Company for 23 years. He is past president of the American College of Real Estate Lawyers, past chair of the Anglo-American Real Property Institute, and past chair of the International Council of Shopping Centers Law Conference. Mr. Goldberg is currently a Fellow of the American College of Mortgage Attorneys and is a member of the American Law Institute. Mr. Goldberg received his B.A. from Pennsylvania State University and his LL.B. from the University of Maryland School of Law..
Mandatory MCLE Credit Hours
This seminar qualifies for 1.0 MCLE Credit Hour.
This seminar is an Intermediate level program.
Note: When submitting your compliance reports to the SC Commission on CLE and Specialization, if you completed this in 2020, please use this course code: 201786ADT
Note: When submitting your compliance reports to the SC Commission on CLE and Specialization, if you completed this in 2021, please use this course code: 213138ADT