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21 Prob. & Prop. 42 (2007)
Landlord Impediments to Subleasing and Assignment - Recapture, Profit Sharing, and Restrictions on the Exercise of Options

handle is hein.journals/probpro21 and id is 172 raw text is: Landlord inmp edimets to Subleasing d Assignment By Sidney G. Saltz andlords frequently frustrate tenants' proposed assignments and subleases by permitting such transfers only with the landlord's consent. Tenants who surmount the consent hurdle are often confronted with three additional hurdles contained in their leases-the landlord's right to terminate the lease or to exclude the portion of the premises proposed to be transferred (usually referred to as the right to recapture), the right to profits that the tenant is to derive from the transfer, and the prohibition on the exercise of options if the tenant itself is not in occupancy of all or substantially all of the premises. The stated rationale for the inclusion of the landlord's rights under these Sidney G. Saltz is a Senior Counsel in the Chicago office of Holland & Knight LLP and the supervisory council member for the Land Use and Environmental Group. 42 PROBATE & PItoPR'n' o MAY/JUNE 2007

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