QUESTION
How enforceable is a Stip to pay on time (tenth of the month) on a commercial property in NYC when you are currant with your rent.
Asked on Feb 09th, 2012 on Real Estate - New York
More details to this question:
Or, how likely is a NYC judge to rule in favor of the landlord for being 1 business day after stip date.
The stip was place in force 8 months ago, the business has been current ever since, they just cannot give certified funds until 1 business late. There are no penilties for late payment, just a lock out clause.
Can they lock out with out court approval? Seemingly so.
1 ANSWER
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You should contact your landlord and see if you can get written agreement for the additional day you need. Otherwise, I can not answer the questions you asked because they are more complicated than they sound and I would need more information to give you sound advise. I suggest that if you are worried about a lockout and cant make the agreement with your landlord, seek legal advice before the fact, a lawyer can advise you more fully upon reviewing your documents and circumstances.
Walter S. Jennings
Answered on Feb 10th, 2012 at 1:45 PM