What does condemnation mean in a lease?

condemnation is the action of taking private property for public use without the owner’s consent. It is one of the tools in the government’s arsenal when trying to carry out a public project like road building or sewer line replacement. Condemnation is often used in the context of a condemnation suit. If a public entity wants to take property without the owner’s consent, it must file a formal condemnation action in court. Condemnation is most often used to take private

What does an option to condemn mean in a lease?

An option to condemn is a right of the lessor to take the leased property back and terminate the lease if the tenant fails to timely pay rent. Condemnation is a process by which a government entity takes private property for public use. Condemnation clauses are typically used in commercial real estate and are often found in shopping center leases. Condemnation clauses are typically easier to enforce if the leased space is part of a shopping center because the shopping center landlord can file a lien on the entire

What does condemnation mean in a lease agreement?

Condemnation is a term that refers to the taking of private property by the government for a public purpose. Condemnation is usually a result of an eminent domain lawsuit filed by a governmental entity to take control of a piece of property for the purpose of using it for a public project. The condemnation process can be lengthy and complicated. You cannot simply hand over the keys to the property and tell your tenant to find another place to live. Instead, the government will issue an eminent domain order to your

What does a condemnation clause mean in a lease?

If, during the lease term, the landlord or an authorized party declares the leased property uninhabitable, the tenant will have to vacate the premises. But if the tenant is found to have caused the damage to the property, they could be responsible for the costs. Condemnation clauses in a lease can help mitigate potential losses in these situations. This allows the tenant to give notice to vacate the property, but also protects them from being liable for the costs of the repairs.

What does the term condemnation mean in a lease?

Condemnation is a legal term of art that is used in property and real estate law. Condemnation is a process by which the government or a governing body (such as a municipality or county) can take private property for public use without the owner’s consent. Condemnation does not always require the owner to give up the property. In some cases, the owner can negotiate a deal with the condemning authority that allows them to continue to use the property.