Document(s) published by this organization: 64
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|Lender Liability in Real Estate Closings; Know Your Closer Well|
Richard W. Smith; Bernstein Shur;
July 28, 2014, previously published on July 22, 2014The general phrase “lender liability” usually refers to cases where a lender does not live up to its own loan agreement, or where a loan officer promises more than the loan documents provide, or where the lender sells collateral in a commercially unreasonable manner. Lenders can also be...
|ABC 123: AAI, ESAs and VRAP - When to utilize DEP’s Voluntary Response Action Program|
Mary Costigan, Katherine A. Joyce; Bernstein Shur;
July 28, 2014, previously published on July 15, 2014Last time around, we mentioned that if you are going to buy a commercial property, you should investigate the existing environmental conditions of that property. It is helpful to address both the costs and timing associated with this environmental due diligence in your Purchase and Sale Agreement.
|The Economic Loss Doctrine Scaled Back in Massachusetts|
Asha Echeverria; Bernstein Shur;
July 22, 2014, previously published on July 18, 2014In a case recently decided by the Massachusetts Supreme Court, the Court reaffirmed that the Economic Loss Rule applies to construction cases in Massachusetts. The trustees of the Market Gallery Condominiums in Lowell filed an action against Ayer Properties seeking damages for the negligent...
|Reed Construction Data - Economy Improving Slowly but Surely|
Michael R. Bosse; Bernstein Shur;
July 22, 2014, previously published on July 18, 2014Reed Construction Data reports that the economy continues to improve but challenges remain. Based upon recent construction data from Reed Construction, the industry’s economy continues to improve even though it remains sluggish and somewhat uneven. Year-to-date, seasonally adjusted spending...
|City of Quincy, Massachusetts Bidding Requirements Pre-empted by Federal Law|
David P. Ray; Bernstein Shur;
July 22, 2014, previously published on July 18, 2014In a case just decided by the First Circuit Court of Appeals in Boston, the Court has concluded that a City of Quincy, Massachusetts ordinance requiring bidders on municipal projects in the city to engage in a specific type of apprentice training program violated the Federal Employment Retirement...
|Risky Business? Due Diligence Hints for Bidding at a Foreclosure Auction|
Wendy J. Paradis; Bernstein Shur;
July 11, 2014, previously published on July 8, 2014Know a property being foreclosed, or see the signs and advertisements for foreclosure actions? They are everywhere. It is important to do your homework before bidding. Bid confidently by doing some pre-auction investigation.
|We Like Like-Kind Exchanges|
Nelson A. Toner; Bernstein Shur;
July 8, 2014, previously published on July 1, 2014A real estate owner who holds a property for investment or business purposes, sells the real estate and recognizes a gain. She pays the taxes on the gain at both the federal and state level and uses the remaining proceeds from the sale to purchase new real estate that will also be used for...
|DEP Says You’re A PRP - How to Avoid Becoming an Environmental Acronym Casualty|
Mary Costigan; Bernstein Shur;
June 25, 2014, previously published on June 24, 2014In Maine, anyone who has owned or operated an uncontrolled hazardous substance site from the time a hazardous substance was first deposited up to the present is considered by the Maine DEP to be a potentially responsible party, or PRP. Any PRP may be held liable for abatement, cleanup, or...
|The Emperor Has No Exhibits|
June 25, 2014, previously published on June 19, 2014All of us in the real estate world, regardless of experience or sophistication, have been guilty of ignoring Exhibit A. Like the emperor who believed his invisible cloth clothing could be seen by intelligent people, our unread “invisible” exhibits can leave us exposed.
|The New Maine General Hospital - The Gold Standard in Maine|
Michael R. Bosse; Bernstein Shur;
June 25, 2014, previously published on June 17, 2014Construction lawyers like me are used to encountering construction projects gone bad, and sometimes, headed directly toward litigation. In this column, I wanted to focus on a large-scale recent project in Maine that was an enormous success: the new Maine General hospital. I will highlight two of...