On October 24, 2023, the Appellate Division, First Department, held that a lease guarantor could not be found liable for use and occupancy charges that accumulate after the end of a lease term unless the foregoing was specifically covered in the guaranty. This decision by the First Department will have a substantial effect on both commercial lease and guaranty negotiations.

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Scott A. Newmark
Partner | Co-Chair, Commercial Real Estate
(212) 655-3509 | san@msf-law.com

In Collaboration with:

Michael D. Forlini
Law Clerk | Commercial Real Estate
(646) 860-3134 | mdf@msf-law.co