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cotenancy |
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cotenancy A form of property ownership in which two or more persons or entities own undivided interests.The interests do not always have to be in equal shares. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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You may also want to alter an existing cotenancy provision, or if the term of the lease is expiring soon, use this opportunity to negotiate an extended term at modified rents. 1 million by using cotenancy clauses and negotiating for other forms of rent relief. Many shopping center leases contain cotenancy clauses that state that unless a certain amount of space is leased and occupied, tenants are entitled to financial concessions, such as rent reductions and, under certain circumstances, lease termination rights. |
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