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CONDEMNATION CLAUSES IN COMMERCIAL LEASES Charles N. Parsley, Jr., EsquireCONDEMNATION CLAUSES IN COMMERCIAL LEASES Charles N. Parsley, Jr., Equitable OF CONTENTSINTRODUCTION .........................................................................................................
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Condemnation clauses in commercial real estate leases outline the procedures to be followed if the property is condemned by a government entity.
Both the landlord and tenant are usually required to file condemnation clauses in a commercial lease.
Condemnation clauses in commercial leases should be filled out by including specific language regarding the responsibilities of each party in the event of condemnation.
The purpose of condemnation clauses in commercial leases is to protect the interests of both the landlord and tenant in cases of government condemnation of the property.
Condemnation clauses in commercial leases must include details on how any condemnation proceeds will be distributed between the landlord and tenant.
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