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|Beyond the Rent Roll - Retail Lease Agreements|
Heather Sue Nason; Rogers Towers, P.A.;
August 28, 2014, previously published on August 19, 2014Commercial 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...
|Green Building Code Changes in Baltimore City Could Impact Building Modifications|
Margaret M. Witherup; Gordon Feinblatt LLC;
August 27, 2014, previously published on August 2014A 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.
|MDE Accepting Rental Property Registration Applications|
Gordon Feinblatt LLC;
August 27, 2014, previously published on August 2014As 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...
|Mortgagees 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;
August 27, 2014, previously published on August 2014Effective 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.
|Is it a Covenant, a Condition or a Covenant and a Condition?-Why you need to Care.|
Stephen D. Richman; Kohrman Jackson & Krantz PLL;
August 27, 2014, previously published on August 25, 2014Real 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...
|Guarantor 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;
August 27, 2014, previously published on August 2014In 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...
|Are HOAs Required To Accept Partial Payments On Delinquent Assessment Liens?|
Todd R. Howell; Tharpe & Howell;
August 27, 2014, previously published on August 20, 2014The 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...
|Federal Court Strikes MERS System in Pennsylvania but Maryland Deeds of Trust Differ From Pennsylvania Mortgages|
Travis W. Dalton, Edward J. Levin; Gordon Feinblatt LLC;
August 27, 2014, previously published on August 2014On 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...
|Recent Amendment Implements Important Changes to the Georgia Brownfield Program|
James B. Jordan, Trent Myers; Sutherland Asbill & Brennan LLP;
August 27, 2014, previously published on August 20, 2014Effective 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...
|Consider Becoming a Mortgagee-In-Possession When Your Borrower with Income-Producing Property Defaults|
Edward J. Levin, Seth M. Rotenberg; Gordon Feinblatt LLC;
August 27, 2014, previously published on August 2014Lenders’ 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.