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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...

 

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.

 

HTMLMDE Accepting Rental Property Registration Applications
Gordon Feinblatt LLC;
Legal Alert/Article
August 27, 2014, previously published on August 2014
As of January 1, 2015, owners of rental properties built before 1978 are required to register them with the Maryland Department of the Environment (MDE). Before that date, owners of rental properties built before 1950 were required to register them with the MDE and to comply with a lead paint risk...

 

HTMLMortgagees Face Increased Penalties for Failure to Remedy Municipal Violations on New Jersey Properties in Foreclosure
Edward W. Chang, Francis X. Crowley, Kevin C. Rakowski, Wayne Streibich; Blank Rome LLP;
Legal Alert/Article
August 27, 2014, previously published on August 2014
Effective July 14, 2014, New Jersey Assembly Bill A347 amended N.J.S.A. 46:10B-51, a statutory provision that allows municipalities to impose penalties on creditors for failure to remedy municipal ordinance violations.

 

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...

 

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...

 

HTMLAre HOAs Required To Accept Partial Payments On Delinquent Assessment Liens?
Todd R. Howell; Tharpe & Howell;
Legal Alert/Article
August 27, 2014, previously published on August 20, 2014
The Davis-Stirling Act governs HOA initiated judicial foreclosures against homeowners relative to outstanding lien assessments. In 2011, the Huntington Continental Town House Association recorded a delinquent lien assessment against one of its homeowners followed by the filing of a judicial...

 

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...

 

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...

 

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.

 


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