• Menu
  • Skip to right header navigation
  • Skip to main content
  • Skip to secondary navigation
  • Skip to primary sidebar
  • Skip to footer

Before Header

Call us today for help!  +91 - 7290938578

  • Facebook
  • Google+
  • LinkedIn
  • Twitter

Legal Outsourcing Company | Legal Process Outsourcing India

  • HOME
  • PRACTICE AREAS
    • CONTRACT MANAGEMENT
    • Contract and Document Review
    • Deposition Summarization
    • Lease Abstracting
    • Legal Content Writing
    • Legal Research
    • Legal Transcription and Digitization
    • Litigation Support
    • Medical Chronology
    • Patent and Trademark
  • Case Study
  • BLOG
  • CONTACT US
  • SEARCH
  • HOME
  • PRACTICE AREAS
    • CONTRACT MANAGEMENT
    • Contract and Document Review
    • Deposition Summarization
    • Lease Abstracting
    • Legal Content Writing
    • Legal Research
    • Legal Transcription and Digitization
    • Litigation Support
    • Medical Chronology
    • Patent and Trademark
  • Case Study
  • BLOG
  • CONTACT US
  • SEARCH

Mobile Menu

Schedule A Free Consultation Now!

Find out how our law firm can help you win your case or you don’t pay a cent.

(800) 555-2840

  • Facebook
  • Google+
  • LinkedIn
  • Twitter
Lease Abstraction - Pinning Fundamentals from Commercial Leases

Lease Abstraction – Pinning Fundamentals from Commercial Leases

You are here: Home / Lease Abstraction / Lease Abstraction – Pinning Fundamentals from Commercial Leases
Lease Abstraction - Pinning Fundamentals from Commercial Leases
Lease Abstraction - Pinning Fundamentals from Commercial Leases

November 9, 2019 By //  by Anubha Bakhsi Leave a Comment

Why is lease abstraction – pinning fundamentals from commercial leases important?

Leases are considered to be the foundation of the assets purchased. Whether it is a retail lease, an office or industrial lease or a lease related to commercial space in a mall or a shopping center, leases are at the center of the income stream that feeds the property, thus making it vital for lease abstraction to pin down the fundamentals from commercial leases. Lease Abstraction – Pinning Fundamentals from Commercial Leases is a tool that can be successfully implemented for an accurate record of the income generated from the property leased. An analysis of the comprehensive lease file therefore is not only necessary but also an indispensable element of the due-diligence process. It is vital that each lease is studied thoroughly and then abstracted.

What is a lease abstract?

A lease abstract is a summary of key financial, business and legal information of a commercial lease. In addition to summarizing the standard lease provisions, it brings to the reviewer’s attention any unusual lease provisions, financial obligations and other important issues. The details of the information that needs to be abstracted depends on the purpose like, whether it will be reviewed for acquisition, management or a merger, or for underwriting and lending purposes. A basic lease abstract usually contain lease information; landlord and tenant’s contact details; description of the premises and square footage; the commencement and the expiration date; repair obligations and other useful information that is needed from a full lease document.

What information does a lease abstract usually contain?

The details of an abstract vary depending on the type of lease, but all commercial lease abstracts contain the following terms: the name of the tenant; the name of the landlord; the term of the lease; the amount of square footage leased; the space number; the base rent; the percentage rent and/or sales reporting; and a list of documents modifying the terms of the lease. If the lease is for retail space, the abstract might also contain the terms pertaining to hours of operation and merchants’ associations. If the lease is for office space, the abstract might contain the terms pertaining to lessee improvements. a person needs a lease abstract not for his or her own understanding of the terms of the lease, but for financing purposes. When a person seeks to purchase a commercial property with tenants, that person must perform what is called due diligence. Due diligence requires the potential buyer to inspect all aspects of the property including the status of the leases associated with the property. Sometimes, as in the case of the purchase of a shopping mall or a large office complex, there can be over 100 leases. If the lender, to whom the task of due diligence usually falls, is able to review abstracts of the leases rather than the leases themselves, the task is made that much more cost and time efficient.

What resources are needed to perform lease abstraction?

Lease abstractions work is usually done by outsourcing firms that are based in countries where labor is cheap. A good lease abstracting agency uses the services of attorneys, accountants and real estate professionals to ensure that the abstract accurately summarizes the essential information that is a vital part of the abstract along with additional information such as insurance responsibilities, and maintenance responsibilities for both the landlord and the lessee. These days, a number of lease management software packages are available that include a lease abstracting feature. The feature uses reporting software to take a lease that has been created with the software and abstract it. Usually, the abstracting feature allows the user to pull out the exact information needed, allowing a customized lease abstraction to be created each time. An abstract has uses outside the context of due diligence, too. It’s a good idea to have a lease abstracted each time there is a change in the terms of the lease, even for common changes such as a rent increase. Having it abstracted every time there is a change in terms will make sure that there are no surprises for either the landlord or the lessee.Thus, Lease Abstraction – Pinning Fundamentals from Commercial Leases is the most accurate definition for commercial lease abstraction.

Why choose Complete Legal Outsourcing to outsource your lease abstraction related projects?

Complete Legal Outsourcing has earned a name for itself in lease abstraction. Equipped with a team of law graduates, having relevant experience in commercial lease abstraction thoroughly review the leases and extract the dat that is hundred percent accurate. There twenty four by seven work environment is an added advantage that ensures that all projects are delivered within a stipulated time frame.

Filed Under: Lease Abstraction

Looking for immediate answers to your questions?

Schedule a no-cost consultation today!

Schedule a consultation today for us to go through your project requirements and let you about the estimated completion time and cost involved

You May Also Be Interested In:

Outsourcing Legal Research Services

Outsourcing Legal Research Services

Getting Right – Negotiating Lease Costs vs. Reality

Getting Right – Negotiating Lease Costs vs. Reality

Lease Abstraction - Pinning Fundamentals from Commercial Leases

Lease Abstraction – Pinning Fundamentals from Commercial Leases

Commercial Real Estate Leases For Wide Variety Of Business Parameters

Commercial Real Estate Leases For Wide Variety Of Business Parameters

summary of key financial business and legal information

Lease Abstraction – Summary of Key Financial, Business and Legal Information

Commercial Real Estate Lease Abstraction

Commercial Real Estate Lease Abstraction

Commercial Lease Abstraction and Lease Management Challenges

Commercial Lease Abstraction and Lease Management Challenges

Understanding Lease Abstraction Process

Understanding Lease Abstraction Process

Lease Abstraction is the Key to Financial and Legal Information

Lease Abstraction is the Key to Financial and Legal Information

Previous Post: «Commercial Real Estate Leases For Wide Variety Of Business Parameters Commercial Real Estate Leases For Wide Variety Of Business Parameters
Next Post: Getting Right – Negotiating Lease Costs vs. Reality Getting Right – Negotiating Lease Costs vs. Reality»

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

RECENT POSTS

Outsourcing Legal Research Services

Outsourcing Legal Research Services

The modern legal profession requires extensive research leaves …

Getting Right – Negotiating Lease Costs vs. Reality

Getting Right – Negotiating Lease Costs vs. Reality

It’s no hidden secret that drafting a commercial lease needs …

Lease Abstraction - Pinning Fundamentals from Commercial Leases

Lease Abstraction – Pinning Fundamentals from Commercial Leases

Why is lease abstraction - pinning fundamentals from commercial …

Commercial Real Estate Leases For Wide Variety Of Business Parameters

Commercial Real Estate Leases For Wide Variety Of Business Parameters

What is a Lease Abstract and how can abstracting commercial real …

summary of key financial business and legal information

Lease Abstraction – Summary of Key Financial, Business and Legal Information

Why is the Lease Abstraction - Summary of Key Financial, …

Footer

Success Stories

  • Blog
  • Cookie policy
  • Practice Areas
  • Privacy Policy
  • Case Study

Our Office

Complete Legal Outsourcing
+91-7290938578

9/19 A Judge Colony.
Vaishali Ghaziabad
UP 201010 +91 - 7290938578

Contact Us

Contact our legal office today. Our attorneys are ready to fight for you. There is no better time than now.
Learn How →

Newsletter

Sign up to get free resources, tips, and directory of our firm.

Not a real newsletter

  • Facebook
  • Google+
  • LinkedIn
  • Twitter
  • Blog
  • Cookie policy
  • Practice Areas
  • Privacy Policy
  • Case Study

Site Footer

Complete Legal Outsourcing should not be mistaken for a law firm and it does not render any legal advice

© 2014–2021 · Complete Legal Outsourcing · Powered By Kleverk Designs Pvt Ltd

We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.OkPrivacy policy