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|SBA Partners with NCUA and Credit Unions to Expand Access to Loans|
Scott A. Chernich, Steven L. Owen; Foster, Swift, Collins & Smith, P.C.;
April 9, 2015, previously published on March 25, 2015Credit union members will soon have greater access to capital to start or expand a small business thanks to a joint initiative of the U.S. Small Business Administration ("SBA") and the National Credit Union Administration ("NCUA").
|Pending Real Estate Legislation in the Ohio Legislature|
Kohrman Jackson Krantz PLL;
April 8, 2015, previously published on March 23, 2015Spring is finally in the air and that means, among other things that the Ohio Legislature (https://www.legislature.ohio.gov/) is in session. The bills of the 131st General Assembly pending in the Ohio House and Ohio Senate related to real estate are as follows:
|Would You Like a Side of Fries With That Banking Services? Permitted Use Provision in Mall Leases|
Albert Lin; McCarthy Tétrault LLP;
April 8, 2015, previously published on January 27, 2015One critical factor in the success of a multi-tenant retail centre is the ability to entice tenants occupying different niches in the consumer product market to foster an ecosystem of goods and services attractive to the target consumers. The permitted use provision is a critical tool available to...
|Legal Warranties: When Selling Real Estate in Québec, Silence Will Be Used Against You in a Court of Law|
Sébastien Thomas; McCarthy Tétrault LLP;
April 8, 2015, previously published on April 6, 2015One not familiar with the special set of rules outlined in the Civil Code of Québec (the “Civil Code”) will likely be in for a big surprise when selling real estate assets in La Belle Province: if the contractual documentation does not expressly exclude the legal warranties...
|Toronto’s Development Permit System: Reset TO|
Mary Lee; McCarthy Tétrault LLP;
April 8, 2015, previously published on February 4, 2015On July 11, 2014, the City of Toronto amended its Official Plan policies to permit development permits to be used to regulate land use throughout the City. Through OPA 258, all of the City is now designated as a development permit area.
|Relief From Forfeiture: An Equitable Second Chance for Commercial Tenants|
Aidan Cameron, Patrick Williams; McCarthy Tétrault LLP;
April 8, 2015, previously published on February 17, 2015Breaching a lease may result in a tenant forfeiting its right to use and occupy the leased premises. Even where that happens, courts have a discretion to grant relief from forfeiture under section 24 of the Law and Equity Act if such relief would be fair and just in the circumstances. The recent BC...
|German Merger Control: German Federal Cartel Office Provides Detailed Guidance on its Analysis of Residential Real Estate Transactions|
Axel Beckmerhagen, Juan Rodriguez; Sullivan & Cromwell LLP;
April 1, 2015, previously published on March 3, 2015On 28 January 2015, the German Federal Cartel Office (“FCO”) approved the acquisition of Luxembourglisted Gagfah S.A. (“Gagfah”) by German-listed Deutsche Annington Immobilien SE (“Deutsche Annington”). The FCO’s approval of this transaction paves the way...
|Buyer Beware: City of San Diego Requires a Second Historic Review of Fully Entitled Projects|
Evelyn F. Heidelberg; Procopio, Cory, Hargreaves & Savitch LLP;
March 31, 2015, previously published on January 2015So you’re under contract to purchase a property with a tentative map and other entitlements issued by the City of San Diego in the mid-2000s, the life of which has been extended by state law and City ordinances enacted during the Great Recession. A structure on the property is more than 45...
|Important Alert for Commercial Owners/Landlords and Brokers/Agents: Changes to California Dual Agency Disclosure Laws Effective January 1, 2015|
Lydia Lake, Pamela L. Westhoff; Sheppard, Mullin, Richter & Hampton LLP;
March 30, 2015, previously published on March 2, 2015Effective January 1, 2015, California law requires real estate brokers and agents to provide their clients and prospective clients with specific new disclosures, including (1) an initial disclosure form regarding the nature of agency relationships, which is typically provided at the time a listing...
|Sacramento Kings Win Again; Second CEQA Challenge Rejected|
Shadi Mahmoudi, Maria Pracher; Sheppard, Mullin, Richter & Hampton LLP;
March 27, 2015, previously published on March 10, 2015The Court of Appeal for the Third Appellate District of California has ruled in favor of the City of Sacramento with regard to a series of challenges brought under CEQA to certification of an EIR and approval of a project to build a new arena in downtown Sacramento. The project involves a...