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California Appellate Tracker

Further Commentary on Petrolink Inc. v. Lantel Enterprises

Interesting California lease case.  The tenant exercised an option to purchase the property “at fair market value” but the parties’ appraisals were miles apart, predictably.  The holding is narrow: the trial court should have awarded tenant credit for rent paid after exercising the option.  But the opinion illustrates a broader message for options and future rent increases: vague references to fair market value invite dispute.  Specify baseball arbitration or another process to determine fair market value! For more commentary by Andrew Noble, click here.