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HTMLCommercial Lease in Default? Practice Pointers for Landlords and Tenants
Patrick A. Karbowski; McDonald Hopkins LLC;
Legal Alert/Article
June 2, 2016, previously published on May 23, 2016
Is your commercial lease in default? Is a default looming on the horizon? Here are some practice pointers for landlords and tenants when it looks like a default is looming... or has arrived.

 

Adobe PDFNew Law Allows Cooperatives to Perform All Activities and Prescribes Registration of Cooperative Ownership
Katarina Djuric; TSG Law Office Tomic Sindjelic Groza;
Legal Alert/Article
May 26, 2016, previously published on May 24, 2016
As 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.

 

HTMLIntroduction to Ontario’s Community Hubs Strategic Framework and Action Plan
Brennan M. Carroll, Webnesh Haile, Nick G. Pasquino; Borden Ladner Gervais LLP;
Legal Alert/Article
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...

 

HTMLFASB Lease Accounting Changes
Mintz Levin Cohn Ferris Glovsky Popeo P.C.;
Legal Alert/Article
May 18, 2016, previously published on March 17, 2016
The 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...

 

HTMLDo a Good Deed
Jeffrey R. Huntsberger; McDonald Hopkins LLC;
Legal Alert/Article
May 16, 2016, previously published on March 8, 2016
People 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.

 

HTMLPotential Pitfalls of New GAAP Rules Related To Leases
Chad J. Richman; McDonald Hopkins LLC;
Legal Alert/Article
May 16, 2016, previously published on March 7, 2016
On 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...

 

HTMLOpen Permits Can Cause Headaches For Property Owners
Gary M. Kaleita, Adam R. Lewis; Lowndes, Drosdick, Doster, Kantor & Reed Professional Association;
Legal Alert/Article
May 10, 2016, previously published on April 8, 2016
Permits 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...

 

HTMLMortgage Servicer Successfully Wields Bona Fide Error Defense Against FDCPA Claim: Would Your Procedures Hold Up, Too?
Larry R. Rothenberg; Weltman, Weinberg & Reis Co., L.P.A.;
Legal Alert/Article
April 19, 2016, previously published on March 22, 2016
A mortgage servicer servicing loans for another entity is generally subject to the Fair Debt Collection Practices Act (FDCPA), which imposes liability for communications to a borrower containing false, deceptive or misleading representations. The FDCPA affords a narrow carve-out to the general rule...

 

HTMLLegal Issues Associated with Selling & Purchasing Failed Residential Subdivisions in Florida
Gary M. Kaleita; Lowndes, Drosdick, Doster, Kantor & Reed Professional Association;
Legal Alert/Article
April 18, 2016, previously published on March 18, 2016
There 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...

 

HTMLSurvey Indicates that TRID Compliance is Leading to Delays in Loan Closings and Fewer Product Offerings
Steven L. Owen; Foster, Swift, Collins & Smith, P.C.;
Legal Alert/Article
April 14, 2016, previously published on March 31, 2016
In November 2013, the Consumer Financial Protection Bureau (CFPB) integrated the Real Estate Settlement Procedures Act (RESPA) and Truth in Lending Act (TILA) disclosures and regulations. The new TILA-RESPA integrated disclosures (TRID) took effect in October 2015.

 


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