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HTMLBeyond the Rent Roll - Retail Lease Agreements
Heather Sue Nason; Rogers Towers, P.A.;
Legal Alert/Article
August 28, 2014, previously published on August 19, 2014
Commercial mortgage lenders of non-owner occupied property need to be adept at reviewing leases to protect themselves from risk. Although the rent roll is a useful tool, some lenders learned during the economic downturn that it was a mistake to rely solely on the rent roll for a picture of the...

 

HTMLIs it a Covenant, a Condition or a Covenant and a Condition?-Why you need to Care.
Stephen D. Richman; Kohrman Jackson & Krantz PLL;
Legal Alert/Article
August 27, 2014, previously published on August 25, 2014
Real estate purchase and sale agreements typically contain covenants and conditions. They both start with “c” and are typically found in real estate agreements, but that is where the similarities end. A covenant is an agreement or promise to do or refrain from doing something. A...

 

HTMLCourt Of Appeals Approves Baltimore City’s "Quick-Take" Condemnation
Edward J. Levin; Gordon Feinblatt LLC;
Legal Alert/Article
August 27, 2014, previously published on August 2014
In Makowski v. Mayor & City Council of Baltimore, 94 A.3d 91 (Md. June 24, 2014), the Court of Appeals affirmed a decision of the Circuit Court for Baltimore City which authorized the City to proceed with the “quick-take” condemnation of property within the Middle East community...

 

HTMLCovenant Limiting Development to One House per Lot Is Still In Effect and Had Not Been Waived
Edward J. Levin; Gordon Feinblatt LLC;
Legal Alert/Article
August 27, 2014, previously published on August 2014
The Court of Special Appeals recently held that homeowners could not build a second house on the land that they owned due to an 80 year old plat and a set of covenants despite their claims that the same issue had been resolved in prior litigation and that the homeowners association had waived the...

 

HTMLGuarantor May Be Liable for Payments Made before the Date of the Guarantor’s Release If Those Payments Are Set Aside as Fraudulent Conveyances
Lawrence D. Coppel; Gordon Feinblatt LLC;
Legal Alert/Article
August 27, 2014, previously published on August 2014
In the case of In re MS Grand, Inc., No. AP 12-1481, 2014 WL 2795239 (Bankr. E.D. Va. June 19, 2014), a landlord was sued by a bankruptcy trustee who claimed that rent payments made prior to bankruptcy should be avoided as fraudulent transfers under the Maryland Uniform Fraudulent Conveyance Act...

 

HTMLRecent Amendment Implements Important Changes to the Georgia Brownfield Program
James B. Jordan, Trent Myers; Sutherland Asbill & Brennan LLP;
Legal Alert/Article
August 27, 2014, previously published on August 20, 2014
Effective on July 1, House Bill 957 (2014) (the “Amendment”) amended the Georgia Brownfield Act, O.C.G.A. § 12-8-200 et seq. (the Act). The Amendment broadens applicability of the Act, expands the pool of eligible parties under the Act, and clarifies the transferability of the...

 

HTMLFederal Court Strikes MERS System in Pennsylvania but Maryland Deeds of Trust Differ From Pennsylvania Mortgages
Travis W. Dalton, Edward J. Levin; Gordon Feinblatt LLC;
Legal Alert/Article
August 27, 2014, previously published on August 2014
On June 30, 2014, in Montgomery County, Pennsylvania, Recorder of Deeds v. MERSCORP, Inc. and Mortgage Electronic Registration Systems, Inc., No. 11-CV-6968, 2014 WL 2957494 (E.D. Pa. 2014), the United States District Court for the Eastern District of Pennsylvania ruled that assignments of...

 

HTMLGreen Building Code Changes in Baltimore City Could Impact Building Modifications
Margaret M. Witherup; Gordon Feinblatt LLC;
Legal Alert/Article
August 27, 2014, previously published on August 2014
A bill now under consideration by the Baltimore City Council could make it more difficult to make modifications of many existing non-residential and multifamily buildings and to obtain exceptions based on cost, feasibility, or historic nature of the building.

 

HTMLConsider Becoming a Mortgagee-In-Possession When Your Borrower with Income-Producing Property Defaults
Edward J. Levin, Seth M. Rotenberg; Gordon Feinblatt LLC;
Legal Alert/Article
August 27, 2014, previously published on August 2014
Lenders’ counsel typically take steps to prevent their clients from being deemed to be mortgagees-in-possession of distressed real property. However, under some circumstances it may be advantageous for a lender to become a mortgagee-in-possession.

 

HTMLForeclosure Sale Ratified Despite Claim of an Offer Higher Than the Auction Price
Edward J. Levin; Gordon Feinblatt LLC;
Legal Alert/Article
August 27, 2014, previously published on August 2014
In Johnson v. Nadel, 94 A.3d 149 (Md. Ct. Spec. App. June 25, 2014), the Court of Special Appeals ratified a residential foreclosure sale notwithstanding the borrower’s contention that a third party offered to pay more than the foreclosing lender bid at the auction sale.

 


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