Dean Alterman presents ABA seminar on landlord’s liens in commercial leases

It’s been reported that Millennials don’t want to inherit the furnishings that their Baby Boomer parents have accumulated.  Commercial landlords often have a statutory or contractual lien right in their tenants’ furnishings to secure the tenants’ obligation to pay rent.  They want that security interest – but sometimes, like Millennials, they don’t want the stuff itself, even when the tenant stops paying rent.  On February 23, Dean Alterman gave a presentation to the Leasing Group of the American Bar Association’s Real Property, Trusts and Estates section on how to recognize the competing interests of landlord, tenant, the landlord’s lender, the tenant’s lender, and the tenant’s vendors when drafting a commercial lease.