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|Anti-Deficiency Protection For Vacant Lots? Not What The Arizona Supreme Court Intended|
Kent E. Cammack, Christopher M. McNichol; Gust Rosenfeld P.L.C.;
April 15, 2015, previously published on January 28, 2015On January 23, 2015, the Arizona Supreme Court held that Arizona's anti-deficiency statute protects only a completed residence. In so doing, it clarified a prior appellate court decision extending the statute's protections to borrowers who intend to turn vacant land into a future residence, but do...
|Ohio's Receivership Laws Receive Dramatic Changes|
Scott N. Opincar; McDonald Hopkins LLC;
April 15, 2015, previously published on March 24, 2015For the first time in 60 years, the state of Ohio has new receivership statutes, effective March 23, 2015. The revised receivership rules act to clarify existing law, and substantially reform and define the powers of a receiver.
|Violation of Forest Conservation Easement Leads to Huge Civil Penalty|
Travis W. Dalton, Edward J. Levin; Gordon Feinblatt LLC;
April 15, 2015, previously published on January 2015The Court of Special Appeals recently determined that a recorded Conservation Easement Agreement with the Maryland-National Capital Park and Planning Commission (the “M-NCPPC”), which included a metes and bounds description and a plat without a clear superimposition of the location of...
|Landlord's Intention to Redevelop a Business Tenancy|
Bryan Johnston; Dentons Canada LLP;
April 15, 2015, previously published on February 13, 2015The landlord served a s25 notice opposing the grant of a new tenancy, relying on s30(1)(f) of the Landlord and Tenant Act 1954 (LTA 54), the redevelopment ground.
|Don’t Get Left in the Dark: Pre-eviction Noticing Requirements Following Sunset on the Protecting Tenants at Foreclosure Act|
Daniel L. Burkard, Ben Katz, Christopher D. Meyer, Meredith L. Minkus, Kelly E. Waits; Burr & Forman LLP;
April 15, 2015, previously published on March 25, 2015For the past five years, foreclosing lenders have been bound by a federal law that made it much more difficult to evict non-borrower tenants and occupants of the subject property following a foreclosure sale where the lender took title. The Protecting Tenants at Foreclosure Act (the...
|Covenant that Property Serve as a Perpetual Buffer Zone Survived Tax Sales|
Travis W. Dalton; Gordon Feinblatt LLC;
April 15, 2015, previously published on January 2015In Bernando Rene Flores v. Maryland-National Capital Park and Planning Commission et al., No. 01239, Sept. Term 2013 (Md. Ct. Spec. App. December 2, 2014), the Court of Special Appeals affirmed the Circuit Court for Prince George’s County’s decision that an “Owner’s...
|The Same Standards Apply to Terminate a Section 8 Lease or To Evict a Tenant as a Holdover|
Edward J. Levin; Gordon Feinblatt LLC;
April 15, 2015, previously published on January 2015In Grady Mgmt., Inc. v. Epps, 218 Md. App. 712, 98 A.3d 457 (2014), the Court of Special Appeals held that the standard for showing good cause to terminate a lease, effective at the end of the term under the Real Property Article of the Maryland Code (“RP”) §8-402.1, is the same...
|Declarant Rights: Are Developers Leaving Money On The Table?|
Gary M. Kaleita; Lowndes, Drosdick, Doster, Kantor & Reed Professional Association;
April 13, 2015, previously published on March 27, 2015When a residential subdivision is developed, it is common for the developer to record a Declaration of Covenants, Conditions, Easements and Restrictions along with the subdivision plat. This Declaration addresses use restrictions that will govern the residents, as well as easements for their use...
|CBMS Loan Negotiation--Proactive Approach Could Save Time and Money|
Kohrman Jackson Krantz PLL;
April 13, 2015, previously published on January 05, 2015 CMBS loans (loans that will be packaged with similar loans and securitized as commercial mortgage backed securities) continue to be popular despite their rigid structure and higher costs. Many commercial real estate owners like CMBS loans for their nonrecourse nature, absent the commission of...
|Watch Your Language with Restrictive Covenants|
Kohrman Jackson Krantz PLL;
April 13, 2015, previously published on January 26, 2015 As established in other “Watch Your Language” articles for this Blog, as a general rule, courts will uphold language in commercial agreements, unless it is contrary to statutory law or public policy. Because of this judicial deference to “commercial language”, you must say...