Kiritsis & Associates

 

An overview of acceleration clauses in New Jersey commercial lease agreements.

Jul 8, 2021

Law Offices of Kiritsis & Associates — 212-922-0005
Author: John Kiritsis, Esq., CPA, MBA, MS, JD, LL.M

 

Acceleration clauses are traditionally associated with mortgages. However, they are increasingly occurring in New Jersey commercial leases. No federal statutes resolve property leasing disputes. Real property does NOT include personal property.

 

New Jersey Statute of Fraud provisions have a timeline of 3 years. The lease should spell out any exclusive use provisions for the premises.

In several municipalities throughout the State of New Jersey, there may be some type of regulatory requirements which impose (generally, the burden would fall exclusively or mostly to landlords) the obtaining of rental license and Certificate of Occupancy Good Standing type of documents, prior to being able to legally enter into a lease agreement.

 

The practical restraints brought on to the operations of the New Jersey Judiciary System by the Coronavirus-related shutdowns, may have made much of the substance of this brief analysis, an incomplete and/or incorrect generalized explanation, of what is an already heavily technical and complicated topical area, within the study of jurisprudence.

 

To better assist in a quest of further analyzing this type of question(s) as revolving per this legal guide article, it may be useful to make additional inquiries, such as: Is it legal or practical to allow tenants to sublease? Are the premises that include rent or occupancy use complaint with recent building code regulations?  Should the lease contain specific clauses regarding issues with security deposits?

 

Our firm can help you draft, review, negotiate, and execute any type of New Jersey real property lease agreement. We are open seven days a week from 8 a.m. to 8 p.m. We offer prospective clients both exhaustive and comprehensive leasing law practice services, including the following:

 

Residential lease contract agreements.

Non-rent regulated residential lease agreements.

Rent regulated residential lease contract agreements.

Rent regulated stabilized residential lease agreements.

Rent control regulated residential lease contract agreements.

Commercial lease agreements.

Office space lease contract agreements.

Industrial occupancy lease agreements.

Warehouse commercial use lease contract agreements.

Warehouse storage lease agreements.

Office space use lease contract agreements. 

Medical space use lease agreements. Kiritsis & Associates (212)–922–005.   

Safety deposit/vault use lease contract agreements. 

Chemical and pest control related use lease agreements. 

Cinema and theater productions related use lease contract agreements. 

Roommate use lease agreements. 

Co-habitation lease contract agreements. 

Shared office space use lease agreements. 

Gross lease contract agreements. 

Netted lease agreements. 

Single net lease contract agreements. 

Double net lease agreements. 

Triple net lease contract agreements. 

Commercial leases with time extension option provisions. Kiritsis & Associates (212)–922–005. 

Real property lease contract agreements. 

Addendum and side deal real property lease agreements. 

Lease contract agreement modifications.

Existing lease assumption lease agreements. 

Cancellation of real property lease contract agreements. 

Cancellation of residential lease agreements. 

Cancellation of commercial lease contract agreements. 

Barbershop and beautician related lease agreements. 

Gas station and related use lease contract agreements. 

Restaurant and related use lease agreements. 

Food establishment and related use lease contract agreements. 

Deli and bodega related use lease agreements. Kiritsis & Associates (212)–922–005.   

Liquor store and other related use lease contract agreements. 

Bar and tavern related use lease agreements. 

Parking space and garage related use lease contract agreements. 

Religious institution and related use lease agreements. 

Church and related use lease contract agreements. 

Morgue and related use lease agreements. 

Synagogue and related use lease contract agreements. 

Buddhist temple and related use lease agreements. 

Hinduism temple and related use lease contract agreements. 

Non-profit and related use lease agreements. 

501 (c) 3 organization and related use lease contract agreements. 

Lease sales back terms lease agreements. Kiritsis & Associates (212)–922–005.   

Lease contract agreements with option to purchase clause.

Development site lease agreements. 

Tax favored lease contract agreements. 

Farming related lease agreements. 

Agriculture and related use lease contract agreements. 

Livestock related use lease agreements. 

Poultry related use lease contract agreements. 

Timber related use lease agreements. 

Dining hall use lease contract agreements. 

Landlord-focused and customized lease agreements. 

Tenant-focused and customized lease contract agreements.

Construction project centered lease agreements. Kiritsis & Associates (212)–922–005.   

Condo lease contract agreements. 

Co-op lease agreements. 

Condo co-op lease contract agreements. 

Condo-type building premises lease agreements. 

Co-op-type building premises lease contract agreements. 

Condo co-op building premises lease agreements. 

Single family dwelling lease contract agreements. 

Two family dwelling lease agreements. 

Three family dwelling lease contract agreements. 

4-plex property lease agreements. 

Multi-family property lease contract agreements. 

Mixed-use property lease agreements. 

Commercial use building premises lease contract agreements. Kiritsis & Associates (212)–922–005.   

Industrial use property lease agreements. 

Locker room/storage type lease contract agreements. 

Postal office box related use lease agreements. 

Laundromat and other related use lease contract agreements. 

Carwash and other related use lease agreements. 

Florist, botanical, and horticulture use lease contract agreements. 

Hair saloon and related use lease agreements. 

Municipal related use lease contract agreements. 

Governmental entity organization related use lease agreements. 

Hostel and other related use lease contract agreements. 

Adults-only recreational use lease agreements, including: Strip clubs, Marijuana dispensaries, etc.

Master lease contract agreements. Kiritsis & Associates (212)–922–005.   

Co-op propriety lease agreements. 

Hypothecating, equity-utilization, leveraging lease contract agreements. 

Drafting lease agreements.

Negotiating lease contract agreements.

Lease agreement and document review services.

 

We offer prospective clients services throughout the state of New Jersey, including the following counties:

 

Atlantic

Camden

Cape May

Cumberland

Essex

Gloucester

Hudson

Hunterdon

Mercer

Middlesex

Monmouth

Morris

Ocean

Passaic

Salem

Somerset

Sussex

Union

Warren

 

You can call use today for a FREE initial consultation with a licensed New Jersey real estate attorney at (212) – 922 – 0005.

 

We offer a number of fee payment options, including: Flat, Hourly rate, Mixed-type (various payment plans combined).

 

We accept all standard methods of payment, including: Cash, Personal check,Business check, Cashier check, Bank check, Money order, Debit card, Most credit cards.

 

We also sell template-type products, including legal guide pamphlet-style booklets.

For more information on any of the above services and products, or any type of legally related service product, contact us at any of our New York and New Jersey branch affiliates.

 

Sources:

New Jersey Eviction Statutes Act

New Jersey Board of Bar Association 

American Bar Association 

Truth in Renting Act

New Jersey Attorney General's Office

New Jersey Department of Community Affairs

New Jersey Law Journal

New Jersey Revised Uniform Limited Liability Company Law

New Jersey Lawyer Magazine

New Jersey Department of the Treasury 

New Jersey Judiciary -- Superior Court

 

Berzito v. Gambino, 63 N.J. 460 (1973)

Marini v. Ireland, 56 N.J. 130 (1970)

Onderdonk v. Presbyterian Homes of NJ, 85 N.J. 171 (1961)

Fonnerjian v. Moskowitz, 237 N.J. Super 395 (App. Div. 1989)

Great Atlantic & Pacific Tea Co., Inc. v. Checchio, 335 N.J. Super 495 (App. Div. 2000)

Schultz v. Kneidl, 56 N.J. Super 575 (L&W Div. 1959), Id. 59 N.J. Super 382 (App. Div. 1960)

Sparks v. Lorentowicz, 105 N.J. Eq. 189 (E. & A. 1930)

N.J.S.A. 25: 1-12

N.J. Indus. Properties v. T.C. & V.L., Inc., 100 N.J. 432 (19850

Milacci v. Mato Realty Co., 217 N.J. Super 297, 525 A.2d 1120 (App. Div. 1987)

Ahlstrom v. TMC Properties, LLC, 2010 WL 3834505 (App. Div. 2010)

Berg Agency v. Sleepworld–Willingboro, Inc., 136 N.J. Super 369 (App. Div. 1975)

Clearview Farms, LLC v. Fannon, 145 A.D.3d 1556 (N.Y. App. Div. 2016)

Islip U-Slip, LLC v. Jack’s of Route 23, Inc., 166 N.J. Super 36 (App. Div. 1979)

Cox v. Simon, 278 N.J. Super 419 (App. Div. 1995)

Ringwood Assocs., Ltd v. Jack’s of Route 23, Inc., 166 N.J. Super 36 (App. Div. 1979)

River Road Assocs. v. Chesapeake Display and Packaging Co., Inc., 104 F.Supp.2d 418 (D.N.J. 2000)

Ultimate Computer Services, Inc. c. Baltimore Realty Co., Inc., 183 N.J. Super 144 (App. Div. 1982)

J.H. v. R&M Tegliareni, 2018 WL 1526736 (App. Div., March 29, 2018).

Jimenez v. Powell, 2018 WL 944418 (App. Div. 2018)

 

Law Offices of Kiritsis & Associates
Phone: 212 922 0005

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