Definitions for "Demolition Clause"
Used to insure against loss resulting from laws or ordinances regulating construction or repair. Requires additional premium.
A provision in some leases giving the landlord the right to cancel the lease if the landlord decides to raise the building.
A clause within a lease denoting the fact that if or when the ground lease has expired, the building will be demolished per such clause. The lessor must notify the tenants within an established time of such condition.