Kiritsis & Associates
Kiritsis & Associates
Kiritsis Law -- Call us at 212 922 0005
By: John Kiritsis, Esq., CPA, MBA, MS, JD, LL.M
The legal hurdles needed to overcome with legally taking money judgement actions against commercial landlords and personal guarantors can seem daunting at first. Hopefully, this guide provides an overview of the legal landscape in this area.
It should be noted that New York law, even if entirely generated at the State type government level (i.e. out of Albany), which is very rarely the case, a considerable factor in its interpretation and enforcement would be the specific local regulations and legal customs that would happen to be at play on a given case. Commercial landlords and tenants alike may be well served to have another round of thorough review of their underlying commercial lease documents in effect (if any). A common practice by our law firm (albeit view somewhat as unorthodox in comparison to other attorney practitioners in this area in the pre-Covid 19 era) has been to have a side agreement with the corporate tenant(s) which may work in unison with the underlying lease agreement to bolster the possible legal enforceability of any personal guarantors lease provisions/clauses.
Fact sensitive application of the law is necessary.
The changing legal landscape of New York City's real estate industry, that has been brought by Covid 19, have underscored the need of landlord's abilities to consider money judgement type of actions, against both commercial tenants and personal guarantors, respectively. A well drafted and properly planned out commercial lease agreement can shield landlords (and tenants in some respects) from a lot of unwanted legal aches in the long run. A good idea with regards to personal guarantee style clauses/provisions in commercial lease agreements, is to try and insert many safety valve (fail safe kind) of mechanisms, if protecting the landlord's legal rights is the principle legal objective.
List of some useful citations and possible references could include:
– U.S. Constitution
– New York Constitution
– New York Real Property Law
– New York GOL
– New York Condominium Act
– New York BCL
– New York LLC Law
– New York State Bar Association
– New York City Bar Association
– COVID-19 Emergency Eviction and Foreclosure Prevention Act of 2020
– HSTPA of 2019
– Bankruptcy Code
– Internal Revenue Code
– Covid-19 Emergency Protect our Small Businesses Act of 2021
– New York UCC Laws
– New York Lien Law
– New York Landlord-Tenant Law
– New York City Housing Court
– New York Small Claims Court
– New York Supreme Court
– NYS Appellate Court
– NY Appellate Division
– New York Court of Appeals
– U.S. Supreme Court
– New York State Executive Laws Section 296
– NYC Board of Standards and Appeals
– New York Real Estate Finance Bureau
– Uniform Land Use Review Procedure (UULURP)
– New York City Planning Commission
– Department of Buildings
– Department of Finance
– New York City Council
–New York State Assembly
– Martin Act
– SBRA (Small Businesses Reorganization Corporation Law)
– New York Labor Law Section 2408241 (Scaffolding Law)
– New York Assembly Bill No. A2554
– Federal & New York State Case Law.
212 922 0005
Law Offices of Kiritsis & Associates
Phone # 212 922 0005
Manhattan Office (Main Office):
633 Third Avenue
New York, NY 10017
Brooklyn Office (By Appointment Only):
1023 74th Street
Brooklyn, NY 11228
New Jersey Office:
7309 Ventnor Avenue
Ventnor, NJ 08406
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