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Maverick, Attorney
Category: Legal
Satisfied Customers: 6421
Experience:  20 years experience as a civil trial and appellate lawyer
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I am in a commercial business contract in Houston Texas.....

Customer Question

I am in a commercial business contract in Houston Texas..... at the end of my first year the Owner sent a notice saying the were 25,000 under budget or triple nets and are asking me to pay 3,000 dollars. They say the majority of it is Real Estate tax and they are trying to fight it with the city. Do I have to pay this?
Submitted: 2 years ago.
Category: Legal
Expert:  Maverick replied 2 years ago.
Welcome. My name is Maverick. I very much enjoy what I do and I hope that you will benefit from the information or assistance that I provide.
It is true that in a triple net lease agreement the lessee may be designated as being solely responsible for all of the costs relating to the asset being leased. These costs would be in addition to the rental fee. This type of lease requires the lessee to pay for net real estate taxes on the leased asset, net building insurance and net common area maintenance.
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