Owning a business in New York can be a challenging endeavor. You will have to compete with many other businesses, provide a product or service that really stands out, and sign a lease for a location that allows your business to thrive. These things are easier said than done, but with the proper motivation and strategy, a business can truly thrive in New York. However, sometimes you have to deal with difficulties as a business owner in New York. Perhaps one of the most problematic situations to deal with is when your landlord is evicting you due to an alleged lease violation. This can occur for a variety of reasons and can put your entire business at risk if you aren’t aware of your options. Talking with a real estate lawyer in NYC is always a great idea in these types of legal scenarios. Below, we will discuss one option that can give your business an opportunity to take the eviction to court and buy your business more time in your leased space.
When you own a business in New York, the chances are that you’ve invested a lot of time, energy, and money into getting your rented space right. When you get an eviction notice that says you’ve violated the lease, it can be surprising and overwhelming, to say the least. The good news is that there is a legal remedy that is known as a Yellowstone Injunction, which allows business owners that are tenants in New York to take things to court. A Yellowstone Injunction is essentially a court order that will temporarily suspend the time period that a tenant must cure a default on their lease. The tenant will be required to show that they can cure the default of contract alleged by the landlord to stay in the property. This is a great option for tenants that depend on their rented property for their business and don’t believe that they’ve actually breached their lease.
The name Yellowstone Injunction comes from a case in New York that occurred with Yellowstone Shopping Center. This legal action can help you save time and money you’ve invested in your leased space. If you have any questions about a Yellowstone Injunction, reach out to an expert in landlord-tenant law in NYC, like Gary J. Wachtel, today. Eviction doesn’t mean the end of your business, but it’s best to speak with a real estate lawyer in NYC prior to deciding on the best course of action.