Is there a limit on how much the reconciliation amount can be for NNN?

Get Legal Help Today

 Secured with SHA-256 Encryption

Is there a limit on how much the reconciliation amount can be for NNN?

We have been in the lease 2 years and last year was surprised with $17,000 charge and this year $12,000.

Asked on May 26, 2009 under Real Estate Law, California

Answers:

MD, Member, California Bar / FreeAdvice Contributing Attorney

Answered 12 years ago | Contributor

A NNN property means a single tenant has a commercial lease and leases on net, net, net terms, which means the tenant is responsible for real estate taxes, insurance and maintenance.  So it may not be surprising to have such charges based on what you are responsible for.  However, did you get an accounting? Proof of the accounting?
Have your lawyer review the material or CPA.  For a lawyer, try www.attorneypages.com and then check his or her disciplinary record at www.calbar.ca.gov under attorney search.


IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

Get Legal Help Today

Find the right lawyer for your legal issue.

 Secured with SHA-256 Encryption