Commercial Lease Valuation Services
Engaging the services of a skilled attorney knowledgeable about commercial lease renewal valuation can help property owners get the best terms for a long-term lease or those leasing property to hold on to their rights. The eminent domain lawyers at Palmieri Tyler are experienced with commercial leasing, including litigating the terms of an existing lease and navigating the challenges of eminent domain or condemnation of property under lease.
Commercial Lease Renewals and Eminent Domain
A property taken by eminent domain impacts those who lease real estate just as much or more than the owner. Often, this is overlooked in the lease agreement, leading to tension between the landlord and tenant. In most cases, the government entity exercising eminent domain only has a responsibility to compensate the property owner and not any other interests like those of leasing tenants.
Ideally, any lease agreement will include a clause on how to proceed if eminent domain is invoked, including how the tenant would be reimbursed for trade fixtures or moving expenses. As experts in commercial leases, our lawyers can assist with creating a legal lease agreement that includes consideration for eminent domain.
Lease Valuation and Negotiation
As part of the eminent domain process, lawyers work to get their clients the highest possible valuation for property seized under eminent domain. This same expertise is highly valuable in cases of lease valuation, where the tenant may need to determine what compensation he or she can reasonably expect if the lease is terminated by the property owner, whether due to eminent domain or another reason. Your attorney can help assess the fair market value of the right to occupy the property under the terms of the lease, which can be different from the rental value.
Additionally, eminent domain attorneys can assist in negotiating a long-term lease, including contingencies for what will happen if a government body invokes eminent domain.
Litigating an Existing Lease
If you are either a landlord or a tenant struggling to make sense of eminent domain, and your lease agreement does not include a clause about how such a situation is to be handled, you may need legal representation to ensure your interests are best represented. The lawyers at Palmieri Tyler can help make legal sense of an existing lease where the parties are not in agreement for how an eminent domain case should be managed.
Lease Valuation in Condemnation Cases
Our eminent domain attorneys are uniquely qualified to assist clients with any issue regarding lease valuations in condemnation and inverse condemnation cases. As soon as you learn about eminent domain impacting the property you either own or lease, you should call your lawyer. It’s possible for a landlord and tenant to work together in an eminent domain case to ensure the best possible outcome for both, but that can be tough if you don’t work together at the outset to establish the best property valuation and pay out to the leasing party.
Palmieri Tyler has a 30-year history of working on cases of eminent domain and lease valuation, with more than 2,000 cases litigated. We can help you avoid the most common problems that occur during the lease valuation process.
To talk an eminent domain lawyer at Palmieri Tyler about your commercial lease, please schedule an initial consultation by calling (949) 851-7294 or using our online contact form.