Tenant Insolvency: Property on the Premises

The Courts have found that property on the premises includes only those goods and chattels capable of being located physically on the premises, in other words, only “fixed assets”.

Accounts receivable, trademarks, patents, share certificates, software source code and other intangibles are not to be considered part of the realization from the premises.

This could severely reduce the landlord’s claim in most high-tech businesses.