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|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...
|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.
|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.
|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...
|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...
|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.
|REDMA - An Update|
Jennifer Hayes; McCarthy Tétrault LLP;
August 25, 2014, previously published on August 19, 2014On May 29, 2014, Bill 17, the Miscellaneous Statutes Amendment Act, 2014, received Royal Assent, bringing into force several amendments and additions to the Real Estate Development Marketing Act (British Columbia) (“REDMA”) previously discussed in detail in my colleague Scott...
|Commercial Real Estate Markets Benefit from Healthcare Industry Growth|
Michael A. Ceccorulli; Pullman & Comley, LLC;
August 21, 2014, previously published on August 15, 2014The slowly recovering economy has presented challenges for most businesses over the past several years, and commercial landlords are no exception. The recent recession resulted in higher vacancy rates and downward pressure on rents, resulting in a tenant’s market for commercial space in most...
|When is a Contracted Out Lease Not 'Contracted Out'?|
Withers Bergman LLP;
August 20, 2014, previously published on August 13, 2014A landlord and tenant may agree that the tenant of commercial premises will not have a statutory right to a renewal lease when the term comes to an end. This is called 'contracting out'. This means that where the terms of the 1954 Act have been validly excluded, the tenant will need to negotiate a...
|The Non-Resident Landlord Scheme: Could You Be Liable?|
Withers Bergman LLP;
August 20, 2014, previously published on August 13, 2014A non-resident landlord ('NRL') is a landlord who has UK rental income and whose usual place of abode is outside the UK. This includes individuals, companies and other corporate entitles, and trustees. In the case of a partnership or a limited liability partnership, each partner or member is...