Pennsylvania Commercial Lease Agreement
The Pennsylvania Commercial Lease Agreement establishes a legally binding relationship between a property owner and a business tenant, outlining their respective responsibilities during the lease term. In Pennsylvania, negotiations may include discussions regarding the Confession of Judgment clause, which permits landlords to bypass litigation and directly apply for a judgment in certain situations, expediting the resolution process.
Both landlords and tenants should be cautious when negotiating lease terms, considering the potential implications of specific clauses. In Pennsylvania, commercial leases may be structured as triple net (NNN), gross, or modified gross leases, depending on the agreed-upon responsibilities of the landlord and tenant.
Statutes – Title 13, Division 2A