[RPPTL LandTen] Question Needing Guidance

[George Pincus]

No as the leasehold estate remains intact by virtue of the assignment.  It would be pretty disingenuous of the Landlord to claim there is a termination where at the same time the Landlord is saying go ahead and transfer the leasehold estate I demised to you to the assignee.  It's the same leasehold estate, just a new (and approved) tenant.



George A. Pincus, Esq.
Stearns Weaver Miller Weissler
  Alhadeff & Sitterson, P.A.
New River Center, Suite 2100
200 East Las Olas Boulevard
Ft. Lauderdale, FL 33301
Telephone: 954-766-9705
Facsimile:    954-766-9719
E-mail: gpincus at stearnsweaver.com<mailto:gpincus at swmwas.com>
www.stearnsweaver.com<http://www.stearnsweaver.com/>


From: landten-bounces at lists.flabarrpptl.org [mailto:landten-bounces at lists.flabarrpptl.org] On Behalf Of lesstevens
Sent: Monday, March 14, 2011 4:53 PM
To: 'RPPTL Landlord Tenant Committee'
Subject: [RPPTL LandTen] Question Needing Guidance

I have a Lease which provides that if the Tenant vacates within the first 10 years of the Lease it will re-pay to the Landlord the unamortized Tenant Improvements.

The Tenant is selling its assets and assigning the Lease with Landlord's approval.

Based upon these limited fact...is the assignment of the Lease a "vacating" by the Tenant which would trigger the re-payment obligation?

Thanx for any input.


Les H. Stevens, Esquire
Les H. Stevens, P.A.
5301 North Federal Highway
Suite 130
Boca Raton, Florida 33487
Tel. - (561) 989-9797
Fax - (561) 989-8484
E-Mail - lesstevens at earthlink.net

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