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|Real Estate Tip: Risky Risk Allocation|
Richard W. Smith; Bernstein Shur;
December 19, 2014, previously published on November 13, 2014Landlords and tenants spend a good deal of time deciding how to share risk, how to insure against it, and whether or not to provide indemnities with respect to it. When the leased premises is a place of public accommodation, one risk is whether the physical aspects of the location are in compliance...
|Withdrawal of the Bill that Modify the Appraisal of Properties in Panama|
December 18, 2014The prices of the properties increased almost 5 times since the beginning of the “boom”. This increase has not been yet registered, in most the cases, in the Panama official record of real estate entity, named Cadastral and Heritage Assets Directorate. This cause that a group of...
|Parliament Green Lights Deregulation of Italian Commercial Property Leases|
Francesca Tresoldi, Matteo Troni; Jones Day;
December 16, 2014, previously published on November 2014Effective November 12, 2014, the Italian Parliament has approved with amendments Law Decree no. 133/2014 ("Sblocca Italia"), through the enactment of Conversion Law no. 164/2014 (the "Conversion Law").
|Real Estate in an IRA? Not So Fast.|
George F. Bearup; Smith Haughey Rice & Roegge, P.C.;
December 12, 2014, previously published on November 19, 2014These days a real estate investment trust (REIT) is a “hot” investment to hold in a retirement account. But before you jump to the conclusion that any real estate is an acceptable investment to hold in your IRA, think twice. Investors often purchase real estate using their IRA funds at...
|Retail Leasing: Can The Landlord Force Your Store to Open on Thanksgiving?|
Kohrman Jackson Krantz PLL;
December 10, 2014, previously published on November 24, 2014With the Thanksgiving holiday only a few days away, we’ve been hearing news stories about which stores will open on Thanksgiving Day and which will remain closed. Every year there seems to be contest as to which stores can get the earliest jump on the shopping frenzy known as “Black...
|Collection Actions Gone Awry: Michigan Court of Appeals Upholds Attorney’s Fee Award against Plaintiff for “Frivolous” Collection Efforts|
Patricia J. Scott; Foster, Swift, Collins & Smith, P.C.;
December 8, 2014, previously published on November 25, 2014A lesson that many plaintiffs learn - the hard way - is that winning a judgment in a lawsuit is not the end of the battle. In many ways it’s just the beginning. The judgment simply gives license to pursue recovery of damages. And obtaining recovery can often be as, if not more, difficult than...
|CFPB Continues Crackdown on Real Estate Kickbacks|
Steven L. Owen; Foster, Swift, Collins & Smith, P.C.;
December 8, 2014, previously published on November 25, 2014Referrals are common in the real estate industry. Brokers and builders refer clients to mortgage lenders. Lenders refer clients to title companies. And so on. The real estate referral ecosystem is critical to moving real estate transactions along efficiently and effectively. Most clients need...
|New Law Expands Property Tax “Uncapping” Exemptions for Family Cottage Transfers|
Benjamin J. Price; Foster, Swift, Collins & Smith, P.C.;
December 8, 2014, previously published on November 25, 2014The cottage - it’s a place where memories are made, special events are hosted, and traditions are sustained for many Michigan families. One of the challenges families often face, however, is keeping the family cottage in the family, as it is not always feasible to do so from a financial...
|Florida’s Land and Water Legacy Proposed Constitutional Amendment|
Maribel N. Nicholson-Choice; Greenberg Traurig, LLP;
November 28, 2014, previously published on October 24, 2014Florida’s Water and Land Legacy was founded in July 2012 by approximately thirteen environmental groups, including 1000 Friends of Florida, the Sierra Club and Audubon Florida, who with the support primarily of other environmental groups, citizens and civic organizations gathered sufficient...
|Don't Fall Into the Net...Contribution Clause|
Paul Brecknell, Julie Teal; Withers Bergman LLP;
November 28, 2014, previously published on November 13, 2014If you are appointing an architect or any other consultant to undertake services, and...(also happen to be a banker (or are just savvy),) you will need to watch out for a Net Contribution Clause (NCC) in the consultant's appointment. If you sign up to an unamended 'industry standard' consultant...