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|New Law Allows Cooperatives to Perform All
Activities and Prescribes Registration of
Katarina Djuric; TSG Law Office Tomic Sindjelic Groza;
May 26, 2016, previously published on May 24, 2016As of January next year, cooperatives and cooperative societies will be able to perform not only the current activities (typical of farmers’, agricultural, housing, student & youth cooperatives), but also all other activities not prohibited by the law.
|Introduction to Ontario’s Community Hubs Strategic Framework and Action Plan|
Brennan M. Carroll, Webnesh Haile, Nick G. Pasquino; Borden Ladner Gervais LLP;
May 26, 2016, previously published on April 22, 2016 The concept of multiple organizations sharing space and resources is not a new one. Since 2015, however, the Ontario government has expressed a new dedication to fostering these collaborations as a key element of the cost-efficient and effective delivery of services to Ontario's diverse...
|FASB Lease Accounting Changes|
Mintz Levin Cohn Ferris Glovsky Popeo P.C.;
May 18, 2016, previously published on March 17, 2016The Financial Accounting Standards Board (FASB) is expected to finalize new lease accounting standards (“Standards”) within the coming months which will have very real consequences for owners and lessees alike. Under current accounting standards, a lease is classified as a...
|Potential Pitfalls of New GAAP Rules Related To Leases|
Chad J. Richman; McDonald Hopkins LLC;
May 16, 2016, previously published on March 7, 2016On February 25, 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update No. 2016-02 Leases (Topic 842). Generally, a lessee under a lease with a term of 12 months or more will be required to recognize lease assets and lease liabilities on its balance sheet beginning...
|Do a Good Deed|
Jeffrey R. Huntsberger; McDonald Hopkins LLC;
May 16, 2016, previously published on March 8, 2016People often pay little attention to the instruments by which they convey or acquire real estate. This can be cause for concern, considering the value of the asset being transferred.
|Open Permits Can Cause Headaches For Property Owners|
Gary M. Kaleita, Adam R. Lewis; Lowndes, Drosdick, Doster, Kantor & Reed Professional Association;
May 10, 2016, previously published on April 8, 2016Permits are often an overlooked component of real estate transactions. So-called “open” permits can cause headaches for owners who are selling or financing their property. While title searches disclose encumbrances such as liens, mortgages, easements and restrictions, they do not...
|Legal Issues Associated with Selling & Purchasing Failed Residential Subdivisions in Florida|
Gary M. Kaleita; Lowndes, Drosdick, Doster, Kantor & Reed Professional Association;
April 18, 2016, previously published on March 18, 2016There are many ways to acquire a distressed residential subdivision for what may seem to be a bargain price. Whether an investor is buying the property at a foreclosure sale or purchasing a defaulted mortgage loan on the property, issues may exist that, if known at the time of purchase, would...
|Garnishment Order Based on an Original Judgment Entered in a Maryland Court Sufficient to Garnish Wages of a Non-resident.|
Pessin Katz Law P.A.;
April 14, 2016, previously published on March 21, 2016In Daniel M. Mensah v. MCT Federal Credit Union, No. 54, Sept. Term, 2015 (Opinion by Battaglia, J.), the Maryland Court of Appeals, Maryland’s highest court, addressed an issue of first impression regarding wage garnishments.
|"Best" is Not Always Best When It Comes to Knowledge|
Edward J. Levin; Gordon Feinblatt LLC;
April 13, 2016, previously published on March 2016The term “knowledge” is used in affidavits, applications, representations, warranties, third-party opinion letters, and in other legal contexts to indicate that statements are not guaranteed to be true but are correct based on the information of the person making the statement, giving...
|When Is a Deed in Lieu of Foreclosure Not a Deed?|
Lawrence D. Coppel; Gordon Feinblatt LLC;
April 13, 2016, previously published on March 2016A deed in lieu of foreclosure may be taken by a lender under a workout agreement after its loan goes into default. However, depending upon the terms of the agreement, the lender’s deed may be no better than the mortgage or deed of trust that it was granted in the first place.