Practical Law Glossary Item 6-503-3974 (Approx. 2 pages)
Glossary
Landlord Recapture Rights
A landlord's right to terminate the entire lease or the tenant's leasehold interest for only a portion of the premises.
The landlord's right to recapture is usually a negotiated right. Depending on the negotiated terms of each lease, a tenant's request for the landlord's consent to an assignment or sublease is the most common event that may trigger the landlord's right to recapture all or a portion of the premises.
A recapture right allows the landlord to:
Maintain complete control over the composition of the tenant mix in its building.
Derive the exclusive benefit of any upswing in market conditions by terminating the original lease and entering into a new lease at fair market rental value.