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digitalcommons.nyls.edu
Faculty Scholarship Books
2017
Friedman on Leases (2017)Andrew R. BermanNew York Law School, [email protected]
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Recommended CitationBerman, Andrew R., "Friedman on Leases (2017)" (2017). Books. 67.https://digitalcommons.nyls.edu/fac_books/67
This is your new
Friedman on Leases Sixth Edition
by Andrew R. Berman
Friedman Oil Leases is widely regarded as the leading authority on commerc ial real estate leas ing, recogni zed for its extensive and balanced coverage of tenant and landlord concerns. This new Friedman Oil Leases, Sixth Edition continues to deliver not only the foundational knowledge required by novice p rac titioners, but a lso analys is of and insight into the ~ ost current and re levant developments fac ing seasoned practitioners ll1 the commercial real es tate fi e ld . The author Andrew R. Berman is a real estate pa1tner at Orrick, Herrington & Sutcliffe and a law professor at New York Law School, where he founded the Center for Real Estate ~tudies and the Institute for In-House Counsel. Mr. Berman's experti se 1~1 both practice and academia enable him to provide a broad perspective and ins ight that real estate profess ionals need in thi s rigorou and dynamic fi e ld.
Each volume of Friedman Oil Leases, Sixth Edition is being updated and released this year: Volume 1 (July 2017) and Volume 2 (November 2017). This initia l installment of Friedman Oil Leases, Sixth Edition continues where the last cumulative supple ment le ft off, focusing on Volume 3, chapters 27-39. With an emphas is on c larity, completeness, an~ incorporating the late t developments, chapters 27-39 have been revised and updated .
Highlights of thi s new edition include the fo ll owing:
. ~isparate Impact of Business Practices. New di scuss ion of di -cnm1nation through polic ies that have a disparate impact on a protec ted class. The topic is examined th rough the context of criminal background ~hecks fo r res identia l tenants, which was addressed by HUD guidelines issued in 201 6 (see section 27:8.1).
Modification of the Lease. The general rule is that if a lease is subject to the statute of frauds, a modification of that lease must a lso sati sfy the statute. Di scuss ion of oral modification explores poss ible exceptions to the general rule (see sec tion 32:2). An estoppel certificate is not intended to modify the lease, but as di scuss ion of several cases illustrates,
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a lender or landlord may later argue that it had that effec t (see section 32:4).
Right to Visibility Easements for Signage. Discuss ion expanded to include express provis ion requiring tenant to acknow ledge that it has no rights to any view or light, to prevent a window from being darkened or closed, or to claim a constructi ve eviction or ri ght to an abatement; and provisions stating that landl ord has the right to construct permanent signage on the ex terior of the building, even if such s ignage blocks a tenant's view or light (see ection 33:4) .
Guaranty of Lease. New extens ive di scuss ion of "good guy" guaranties, which are drafted to address a tenant 's failure to vacate the premises at the end of the lease term and/or a tenant 's depa1ture leaving the premises in unacceptable condition (see section 35 :2 .l ) . New sample forms added : Form of Guaranty of Lease (see Appendix 35A) and Form of Good Guy Guaranty (see Append ix 35B).
Insurance. In 2013, the standard ISO endorsements providing additional insured status were amended. Di scuss ion of the effects of these new forms, inc luding the new definition of "additiona l insured" and the form's use of the requirements of the lease not on ly to limit the policy limit applicable to coverage for the additiona l insured, but also the types of claims that are covered ( ee secti on 38: I ).
SUMMARY OF CONTENTS:
Chapter 1 Chapter 2 Chapter 3 Chapter 4 Chapter 5 Chapter 6 Chapter 7 Chapter 8 Chapter 9 Chapter 10 Chapter 11 Chapter 12 Chapter 13 Chapter 14 Chapter 15 Chapter 16 Chapter 17 Chapter 18 Chapter 19 Chapter 20 Chapter 21 Chapter 22 Chapter 23 Chapter 24
Introduction: The History and Nature of a Lease The Parties The Premises The Term-Possession Rent Percentage Leases Assignment, Subletting, and Mortgaging by Tenant Mortgages Damage and Destruction of Leased Property Repairs Compliance with Laws Landlord's Services Condemnation Renewals Purchase Options Default by Tenant Exculpatory Clauses Termination of Lease Take-Over Leases Tenant Bankruptcy Distraint, Landlords' Liens and Tenant Security Option to Cancel Lease Alterations and Improvements by Tenant The Work Letter
Chapter 25 Chapter 26 Chapter 27 Chapter 28 Chapter 29 Chapter 30 Chapter 31 Chapter 32 Chapter 33 Chapter 34 Chapter 35 Chapter 36 Chapter 37
Chapter 38 · Chapter 39
Fixtures Interpretation and Construction of Leases Use of Leased Premises Exclusive Uses Tenant's Right to Quiet Possession Execution and Delivery Recordation of the Lease-Possession As Notice Modification of the Lease Sign and Advertising Rights Contracts to Lease Guaranty of Lease Transfer of Landlord's Reversion Leases, Licenses, and Easements ComparedParking Rights, Department Store Concessions, Lodgers, Etc. Insurance Merger of Leases into the Fee
ABOUT THE AUTHOR:
~ndrew R. Berman is a partner in Orrick's international real e tate practice ~roup and a former partner at Sidley Austin . He also previously practiced at Wachtel!, Lipton and Davis Polk. Prior to joining Orrick, Mr. Berman was a full-time Professor of Law and Chair of the Real Estate Department at New York Law School (NYLS) from 2002 to 2014. At NYLS, Mr. Berman founded, and served as the Director of, the Center for Real Estate Studies and the Institute for In-House Coun el. Since retu:ning to private practice full time, Mr. Berman has continued his affiliation_with NYLS and was appointed Distinguished Adjunct Professor of Law in rea l estate. He also continues to direct the In titute for In-House Coun el, and mentor current and former students.
Throughout his career, Mr. Berman has served on various committees of the American Bar Association, New York City and New York State Bar Associations, Urban Land Institute, and other professional organization . He is a Fellow of the American College of Real E tate Lawyers (ACREL) and the American College of Mortgage Attorneys, and currently serves on the ACREL Leasing Committee and the Legal Opinion Committee. Mr. Berman is an alum of Princeton University and earned his J.D. from New York University School of Law, cum laude, Order of the Coif
For more than 25 years, Mr. Berman has represented client in a b:oad range of sophisticated real estate transactions, including commercial leasing, acquisitions and sales, secured and unsecured financings, and real estate development and constmction project . He has particular expertise representing owners and tenants in lease transactions of different asset classes, including office, retail, multifamily and industrial; and with ground leases, assignments, subleases and surrender/termination agreements. He also advises clients with complex issues involving
