As a general rule, the key money contract is a contract between the tenant of a property and a person interested in taking over the premises in new tenant, with which the new aspiring tenant agrees to pay the “outgoing” tenant a sum to obtain the early termination of the lease and the resulting release of the premises. Key money contracts are widespread in retail and often accompany commercial rentals and commercial real estate. Let`s see what they are with Giulia Comparini lawyers from the law firm Cocuzza – Associati. The structure of the key money contract varies depending on whether it is designed for the new conductor or the outgoing conductor. In the first case, the contract is more complex and structured, because the new holder has every interest in having a contract as detailed as possible, in reference to all the steps, conditions and conditions that will lead him to obtain the signature with the lessor of a new lease, as favorably as possible. The Commission proposes to introduce certain existential clauses concerning, for example, rent and withdrawal to be included in the new lease. It is also important that the new conductor determines the urban conformity of the premises and asks for all the administrative permissions necessary to carry out the work necessary to open his activity on the site. Another good practice would be to defer payment of the key money to the release of the premises by the outgoing conductor. Results: 79421. Exactly: 79421. reaction time: 372 ms.
. Frequent short phrases: 1-400, 401-800, 801-1200, other . The amount of money from the key is determined by several elements, including: The main feature is that the contract usually depends on the conclusion of a new lease between the new tenant and the property. From the outgoing owner`s point of view, the contract is simpler and thinner, as he is simply interested in resolving the current lease by consensus with the property at no counterparty costs (or as little cost as possible) against him. In this case, the tendency is to anticipate the recognition of the money of the key in its entirety, or at least in advance, at the signing of the money contract of the key.