issues are addressed differently in each state.
and Joint Ownership [section] 1 (2005) ("A 'cotenancy
' is a tenancy under more than one distinct title, but with unity of possession.
This is an ideal location for Mirage given its strong cotenancy
and heavy pedestrian traffic from office workers and residents alike," said Marmarou who noted that nearby tenants include Cosi, Chipotle, Guy & Gallard, and a brand new Lenwich by Lennys's on the corner of East 31st Street.
Under the new agreement, the cotenancy
operation was to be managed by an owners' committee having equal representation from the two companies.
Many retail leases include cotenancy
clauses, which allow tenants to ask for rent cuts or even to pull out without penalty if other key tenants leave a particular shopping center.
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.
1031 exchange of property distributed by a partnership, the IRS will likely use one or more of three theories: (1) the partners did not hold the property for a qualified use, (2) the step-transaction doctrine, and (3) the partners' cotenancy
in the property is a partnership.
clauses, which require the presence of a certain anchor to keep smaller tenants in the center, are a "huge" source of problems, Hutensky said.
Nonetheless, several episodes in the history of cotenancy
is a legal term designating ownership of undivided interests in real property by more than one person.
Alternatively, in our proposed competitively ruled joint ownership property right regime it is decreed that (1) the facility must have two or more co-owners each having an agreed share of the rights to the capacity of the facility (In practice a common cotenancy
contract rule is for each cotenant to receive capacity rights in proportion to his contribution to capital cost).
Another red flag is a cotenancy
clause that permits a drug or grocery store to close if the other one vacates the space.