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Philadelphia Nonprofit Property Owners Must Submit Forms by March 31 to Maintain Tax Exemption

Nonprofit organization owners of tax-exempt real estate located in Philadelphia have been receiving letters from the Philadelphia Office of Property Assessment (OPA) concerning forms they must file to enable their properties...more

The Electronic Communications Code - Some Basics

The Electronic Communications Code (“Code”) provides statutory rights to telecommunications operators to install and maintain electrical communications apparatus in, over or under land. The principle of the Code is that no...more

Prospective Real Estate Purchasers Should Demand ASTM E 1527-13 Environmental Phase I Reports

Beginning on October 6, 2015, the United States Environmental Protection Agency (EPA) will require prospective purchasers of real estate to use the new ASTM E1527-13 Phase I Environmental Assessment (Phase I) standard (2013...more

CMBS 2.0 IN FOCUS: Class X – a Class Act!

The emergence of European CMBS 2.0 can be directly traced back to Deutsche Bank’s Deco 2011-CSPK which closed in June 2011. Since that issuance, there have been several deals brought to the market by not only Deutsche Bank...more

CERCLA’s Confusion Between Section 107 and Section 113

Over a decade after the Supreme Court’s decision in Cooper Industries v. Aviall, the divide between CERCLA Section 107 cost recovery claims and Section 113 contribution claims remains unsettled. PRPs incurring response costs...more

Pa. Supreme Court Denies Equitable Tolling of Oil and Gas Lease’s Primary Term

Last week, the Pennsylvania Supreme Court, on certification from the United States Court of Appeals for the Third Circuit, ruled that the primary term of an oil and gas lease would not be equitably tolled during the pendency...more

Alterations Don’t Always Render a Deed Void (or How NOT to do Foreclosure Investing)

Most real estate investors assume that when a deed is altered by someone other than the grantor, without the grantor’s knowledge or consent, before it is recorded, then the deed is void and conveys no title, even as to bona...more

A Précis On The American Property Tax System

The hundreds of billions of dollars of commercial real estate owned by foreign companies and individuals in the United States requires active management and oversight. This is so whether the property is triple net leased to...more

How Hard Does it Have to Rain Before the Government is Liable for a “Condemnation Cloud?”

Public projects take years of planning and environmental review usually involving outreach to neighboring property owners and other stakeholders. During this process, potential right of way impacts are identified and property...more

Philadelphia Tax Exempt Property Owners Must Reapply for Exemption by March 31, 2015

The Philadelphia Office of Property Assessment (OPA) has begun mailing notices to each owner of property listed as tax exempt on the OPA’s records indicating that the owner must file a form to certify that the property...more

Pennsylvania Superior Court: Storage Activities Hold Production Rights Under "Dual Purpose" Lease

The explosion of natural gas production in the Appalachian Basin in recent years has led to litigation involving landowners trying to get out of existing oil and gas leases to take advantage of the fierce competition among...more

Repair Reg Relief for Small Businesses? Not So Fast.

January 1, 2014, marked the date that the final Repair, Maintenance and Disposition Regulations (Regulations) went into effect and apply to any business with material and supplies, repairs or depreciable fixed assets. Since...more

Water District Not Liable In Inverse Condemnation When Water Pipe Breaks and Damages Property

California’s infrastructure is aging. There have been numerous reports of water line breaks and gas line leaks, and public agencies have been moving quickly to upgrade their utilities to minimize these risks and satisfy...more

US Senate Finance Committee Unanimously Approves FIRPTA Reforms

On February 11, 2015, the Senate Finance Committee approved a bill that would make significant changes to the Foreign Investment Real Property Tax Act (FIRPTA), encouraging investment in US real estate in several ways, but...more

The Sixth Circuit, Relying upon Michigan’s Nonrecourse Mortgage Loan Act, Rejects the Enforceability of an Insolvency Covenant

Notwithstanding Michigan’s 2012 Nonrecourse Mortgage Loan Act (NMLA), which provides that solvency covenants in nonrecourse loans unenforceable, in Borman, LLC v. 18718 Borman, LLC, a third-party purchaser of a foreclosed...more

Can Public Parking Garages Be Tax Exempt In New York? The Second Department Says “Yes”

In the recent decision in Matter of Greater Jamaica Dev. Corp. v. New York City Tax Commn., 111A.D.3d 937, 975 N.Y.S.2d 749 (2d Dep’t 2013), the Appellate Division, Second Department held that five public parking garages...more

How the Real Estate Industry Can Use the R&D Tax Credit

When most people think of the research and development (R&D) tax credit, they think of manufacturing. However, other industries can also benefit from this credit. In my August 5th post, we discussed the basics of the R&D...more

N.C. Court of Appeals Applies Common Law Rule Against Perpetuities to Invalidate Lessee's Preemptive Right

Ask almost any lawyer or law student to name the most esoteric concept addressed in law school, and you're more likely than not to hear "The Rule Against Perpetuities". The Rule Against Perpetuities, or the RAP, exists at...more

Owners of Tax-Exempt Property in Philadelphia Must Provide Proof of Right to Continued Tax-Exempt Status

The Philadelphia Office of Property Assessment (OPA) has sent letters to all charitable organizations in the city that own property shown as tax-exempt, in whole or in part, in the OPA’s records. Attached to the letter is a...more

Changes to Pa. Power of Attorney Law: A Problem for Commercial Transactions

Secured lenders and other parties entering into commercial transactions face new, potentially problematic requirements under recent changes to Pennsylvania’s statute governing powers of attorney (20 Pa.C.S.A. Ch. 56), which...more

Forbear or Beware: Are Forbearance Agreements the Solution to California Creditors' Nightmares?

In commercial and real estate disputes, the creditor oftentimes agrees to settle his claim for a discounted amount payable in fixed installments over time, but, at the same time, the creditor requires the debtor to secure its...more

(UK) Rates and Refurbishments - when is a building in repair?

The question of how to value a building which is undergoing substantial refurbishment came before the Court of Appeal who ruled yesterday that the Valuation Tribunal had wrongly attributed a rateable value of £1 to offices...more

Russian Court Terminates Lease Agreement Using “Adhesion” Doctrine

The Russian Commercial Court recognizes a tenant’s right to terminate a lease agreement based on the “adhesion” doctrine and unequal bargaining power. The current financial crisis in Russia is prompting some tenants to...more

Is It Too Late to Just Throw Superfund to the Curb?

Last week, Judge Paul Borman of the Eastern District of Michigan, allowed a motion by the United States for judgment on the pleadings, dismissing a third-party complaint brought against the United States by Michigan...more

It’s Snowing (Again!) – What Responsibility Does a Landlord Have for Snow and Ice Removal?

After four major snowstorms have buried much of Massachusetts in more than six feet of snow, and with other areas of the country dealing with storms of their own, landlords nationwide are wondering how responsible they are...more

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