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Expert Analysis

Clarifying Option-To-Purchase Forfeiture Standards

Law360, New York (August 18, 2014, 4:31 PM EDT) -- Commercial leases often contain provisions that provide the tenant with an option to purchase the leased property upon the satisfaction of certain conditions. The issue of what constitutes the forfeiture of a tenant's right to exercise an option to purchase a leased property was recently decided by the Connecticut Supreme Court in a decision titled Pack 2000 Inc. v. Cushman, 2014 Conn. LEXIS 137 (May 20, 2014). In Pack 2000 Inc., portions of the relevant option-to-purchase provision in the lease agreement read as follows:...

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