Bold MLP, LLC v. Smith

Bold MLP, LLC (Bold), bought some Pensacola property subject to a lease. Not long after Bold received its first rent payment as the new owner, the relationship between Bold and the tenants soured. Not long after that, Bold sought to terminate the lease. Litigation quickly followed, and the circuit court entered a declaratory judgment interpreting the lease and finding it enforceable. Bold appealed.

Among Bold’s several arguments on appeal is that the trial court misinterpreted the lease agreement’s rent provision. The agreement explicitly states that the monthly rent will be $800 for the first…