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Transactional Real Estate: Differences Between Leases and Licenses of Real Property
May 28, 2024
Real estate partners Peter Fisch and Salvatore Gogliormella’s latest Transactional Real Estate column, “Differences Between Leases and Licenses of Real Property,” appeared in the May 28 issue of the New York Law Journal. The authors discuss the distinctions in the rights and remedies afforded by leases and licenses, highlighting that licenses are typically non-exclusive and revocable. It is often easier to remove a licensee than it is to remove a tenant from a property – an owner can remove a licensee either by serving the licensee a ten-day notice and commencing a special court proceeding or by utilizing peaceable self-help, though even licenses may be entitled to enhanced protection if coupled with a leasehold interest. The authors examine various precedents in which courts determined the nature of the agreements at hand, noting that the label parties use to characterize a lease or a license may not align with how the agreement is treated under the law. Real estate associate Bianca D’Agostaro assisted in the preparation of this article.
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