This is a clause found in a lease indicating that when the ground lease has passed its expiration date, the building needs to be demolished. In this case, the lessor is obliged to notify the tenants within an established time frame.
Demolition Clause
This is a clause found in a lease indicating that when the ground lease has passed its expiration date, the building needs to be demolished. In this case, the lessor is obliged to notify the tenants within an established time frame.
