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Guest Column: Renewal Options in Commercial Real Estate Leases

Published June 18, 2013
By Louis Pashman An option in a contract is considered to be a “time of the essence” provision. Thus, the parameters for exercise of the option must be strictly met. Because the property owner cannot unilaterally withdraw the offer contained in the option, courts will require the holder to adhere strictly to its terms. As [...]

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Filed Under: Legal/Regulation

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