What is a Memorandum of Lease and Why is it Important in Massachusetts?
In Massachusetts commercial real estate, understanding when and how to record lease-related documents can help protect long-term interests. One document that often comes into play for leases longer than seven years is the memorandum of lease—also known as a notice of...
What Happens to Commercial Real Estate Leases When a Property Is Sold?
In Massachusetts, commercial real estate transactions often raise an important question for both landlords and tenants: What happens to an existing commercial lease when a property is sold? The short answer is that the lease typically remains in effect, and the new...
The Importance of the Property Description in a Commercial Real Estate Purchase and Sale Agreement
One of the most critical—and often underestimated—aspects of a well drafted commercial purchase and sale agreement (PSA) is the property description. Far beyond simply outlining the parcel of land, a comprehensive property description serves as the blueprint for what...
What is a Choice of Law Provision in a Commercial Real Estate Purchase Agreement and Why is it Important?
Although it may appear to be boilerplate language, the choice of law clause plays a practical role in shaping how a purchase agreement is interpreted and enforced. For both buyers and sellers, identifying the governing law in advance can reduce procedural...
How Does an Easement Affect You and Your Property?
Easements are an important but often misunderstood aspect of property law. An easement is a nonpossessory right to use another person's land for a specific purpose. Types of Easements There are several types of easements, some of the most common include: Appurtenant...