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|Changes to 2016 ALTA Survey Standards - What You Need to Know|
Alfred G. Adams, John W. Benson, H. Edward Hales, Victor P. Haley, James B. Jordan; Sutherland Asbill & Brennan LLP;
March 24, 2016, previously published on March 24, 2016The American Land Title Association (ALTA) and the National Society of Professional Surveyors (NSPS) recently adopted revised Minimum Standard Detail Requirements for ALTA/NSPS Land Title Surveys. The new standards became effective February 23, 2016, and supersede the existing standards introduced...
|Interested in a Crop-Share Lease?|
Jay R. Hoodenpyl; Nexsen Pruet, LLC;
March 21, 2016, previously published on March 14, 2016A cash land lease is a simple method of permitting one party to farm lands owned by another party. The tenant pays rent to the landowner, farms the land, and receives all of the income generated by the crop produced. For practical purposes the landowner takes no role in the tenant’s farming...
|Reducing Risk for the Commercial Lender in Loan Modifications|
Michael D. Smith; Lerch, Early & Brewer, Chartered;
March 18, 2016, previously published on February 26, 2016Loan modification agreements can result in a “win-win” situation for both borrowers and lenders, provided that both parties perform the necessary due diligence. Most loan modifications are fairly simple transactions that involve extending the maturity date, amending or waiving...
|Minimizing the Risks of Signing Restaurant Leases|
Lawrence G. Lerman, Rosemarie Salguero; Lerch, Early & Brewer, Chartered;
March 18, 2016, previously published on January 15, 2016One out of every four new Washington, DC restaurants will close or change hands within five years. In light of this high turnover, landlords and tenants should be aware of lease issues that arise when restaurant space becomes available, especially pertaining to alcohol licenses and security...
|Georgia Supreme Court Answers “Yes”—A Guarantor May Waive Foreclosure Confirmation|
Michael G. Kerman, Adam L. Sonenshine; Sutherland Asbill & Brennan LLP;
March 16, 2016, previously published on March 16, 2016In a decision issued on February 22, 2016, the Supreme Court of Georgia ruled that a guarantor can waive by contract the requirement for a lender to obtain confirmation of a foreclosure sale before pursuing the guarantor for a deficiency. PNC Bank, National Association v. Smith, 2016 WL 690406.
|2015 Foreclosure-Related Decisions by the Maryland Appellate Courts|
Edward J. Levin, Seth M. Rotenberg; Gordon Feinblatt LLC;
March 14, 2016, previously published on February 2016The Court of Special Appeals hears a large number of appeals from the circuit courts on issues relating to foreclosure sales. The 40 opinions by the Court of Special Appeals, reported or unreported, that were issued during calendar year 2015 in this area are listed below, followed by a summary of...
|The Life Sciences Lease: A Marathon, Not a Sprint|
Mintz Levin Cohn Ferris Glovsky Popeo P.C.;
March 10, 2016, previously published on February 24, 2016Leases often form the start of a long term relationship between a landlord and tenant. This dynamic is much more critical in the life sciences context, and the process of lease negotiation and implementation requires integration and cooperation between the landlord and tenant teams. The lease...
|Surveying the Changes|
Ahmad S. El-Gendi, Joaquin E. Martinez; Lowndes, Drosdick, Doster, Kantor & Reed Professional Association;
March 8, 2016, previously published on February 23, 2016Effective today, the American Land Title Association (ALTA) and the National Society of Professional Surveyors (NSPS) announced changes to the Minimum Standard Detail Requirements for ALTA/NSPS Land Title Surveys (the “Minimum Standards”).
|In the ‘Shadow Wood’ of SFR: Nevada Supreme Court Weighs in on Lender HOA Challenges|
Jacob D. Bundick, Sean A. Gordon, Jennifer L. Gray; Greenberg Traurig, LLP;
March 7, 2016, previously published on February 23, 2016In a September 2014 ruling, the Nevada Supreme Court jolted the lending community by holding that a homeowners association’s (HOA) non-judicial foreclosure sale can extinguish a mortgage lender’s previously-recorded first deed of trust on a property if that foreclosure is to recover...
|Solving One of the Greatest Mysteries of Florida Property Law—Florida’s Valued Policy Law|
Michael A. Packer; Marshall Dennehey Warner Coleman & Goggin, P.C.;
March 7, 2016, previously published on March 1, 2016Florida Statute 627.702 is one of the least known and least understood property damage laws in Florida. Yet, it is the statute that can impose the greatest liability on an insurer, especially in times of catastrophic events or when a fire destroys or damages an insured structure. Claims...