Practice point: An agreement to exempt a lessor from its own negligence is void and unenforceable, pursuant to § 5-321.
Practitioners should note that where the liability is to a third party, the statute does not preclude enforcement of an indemnification provision in a commercial lease negotiated at arm's length between two sophisticated parties, when coupled with an insurance procurement requirement.
Case: Castano v. Zee-Jay Realty Co., NY Slip Op 08081 (2d Dept. 2008)
The opinion is here.
