Real Estate/Development
Oct. 21, 2003
REAL LAW
BY GERALD BRYANT A case decided a few weeks ago illustrates the importance of not waiting until the last minute to do something of legal import that has a deadline. In that case, a tenant leased commercial property under a 25-year lease that had an option to extend for two five-year periods. To exercise the option, the tenant had to notify the owner on or before 60 days prior to the lease's expiration date. The last day to exercise the option happened to fall on a Saturday.
A case decided a few weeks ago illustrates the importance of not waiting until the last minute to do something of legal import that has a deadline. In that case, a tenant leased commercial property under a 25-year lease that had an option to extend for two five-year periods. To exercise the option, the tenant ...
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