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Commercial Real Estate Updates

Read Commercial Real Estate Law updates, news, and legal commentary from leading lawyers and law firms:

Coming Soon - The City of Santa Barbara’s New Zoning Ordinance

On Tuesday, July 11, 2017, the Santa Barbara City Council will consider a new zoning ordinance for the city. If the council votes to introduce and subsequently adopt the new zoning ordinance (NZO), it will be effective 30...more

OTA & Travel Distribution Update - June 30th, 2017

by Garvey Schubert Barer on

Our weekly OTA & Travel Distribution Update for the week ending June 30, 2017 is below. A mix of stories in this week’s update. Airbnb Continues Its March Toward Mainstream Lodging (SHORT-TERM RENTALS) ("Airbnb signs...more

PA Supreme Court Prohibits Taxing Jurisdictions from Specifically Targeting Commercial Properties for Reverse Assessment Appeals

by Reed Smith on

In a landmark decision, the Pennsylvania Supreme Court reversed lower court decisions affirming the ability of taxing jurisdictions in Pennsylvania to solely target high-value commercial properties for “reverse” tax appeals....more

H.R. 2148 Introduced to Clarify HVCRE Rules

by BakerHostetler on

In 2013, the Federal Reserve Board adopted rules to implement Basel III, a regulatory framework of reform measures for the banking industry issued by the Basel Committee on Banking Supervision (BCBS). These measures include a...more

Pennsylvania Supreme Court Rules That Constitution Prohibits School Districts from Engaging in Selective Tax Appeals

by Blank Rome LLP on

Action Item: This alert examines the recent Pennsylvania Supreme Court decision in Valley Forge Towers Apartments v. Upper Merion School District, which held that a school district may not selectively appeal the assessments...more

Sixth District Upholds County Zoning Updates Against Piecemealing Claim, Rejects Challenge to Negative Declaration Based on...

by Downey Brand LLP on

In March 2017, the Sixth Appellate District issued its decision in Aptos Council v. County of Santa Cruz, which rejected a two-pronged challenge to the County of Santa Cruz’s adoption of three zoning ordinances revising...more

California Court of Appeal Clarifies a Judgment Creditor's Right to Third Party Discovery in Aid of Enforcement of Judgment

by Allen Matkins on

In Yolanda's, Inc. v. Kahl & Goveia Commercial Real Estate, 11 Cal. App. 5th 509 (2017), the California Court of Appeal recently affirmed a judgment creditor's right to seek third party discovery in aid of enforcement of a...more

Perfecting and Renewing Judgment Liens

A judgment is only as good as your ability to get it satisfied. That means you need to ensure that your judgment is properly recorded and turned into a valid lien....more

Lessons in Civil Forfeiture and Attachment: U.S. May Seize 650 Fifth Avenue

by Ballard Spahr LLP on

On June 29, dual trial verdicts in the Southern District of New York paved the way for the government to seize 650 Fifth Avenue, a 36-story building in Manhattan valued at up to $1 billion (“the Property”). The defendants,...more

Reverse Property Assessment Appeals: Commercial Properties Owners Have a Friend in the Pennsylvania Supreme Court

by Reed Smith on

In a landmark case titled Valley Forge Towers Apartments N, LP, et al. v. Upper Merion Area School District & Keystone Realty Advisors, LLC, No. 49 MAP 2016, issued July 5, 2017, the Pennsylvania Supreme Court (the “Court”)...more

Commercial Tenant Debtors in Chapter 11: Fundamentals of Landlord Creditor Protection in Bankruptcy

by BakerHostetler on

Commercial landlords have unique protections in bankruptcy, but can lose these rights if they do not assert them. When a commercial tenant files bankruptcy under Chapter 11, the landlord must carefully monitor filings and...more

Earth Movement: "Any" Means Any; Home-Owners Insurance Company v. Dominic F. Andriacchi (Michigan Court of Appeals)

Property policies typically include an exclusion for loss caused by or resulting from earth movement. Some insurers will provide coverage for earth movement, but that coverage will usually have a sub-limit. For years,...more

California Supreme Court Confirms: Pony Up the Documentary Transfer Tax

by Nossaman LLP on

The California Supreme Court just dealt a blow to taxpayers who transfer interests in real estate-owning LLCs and other entities. In 926 North Ardmore Avenue, LLC v. County of Los Angeles (Cal. S. Ct. No. S222329, June 29,...more

Accelerated rent and traps for the unwary landlord

by Shutts & Bowen LLP on

Commercial leases often give the landlord the right to accelerate rent through the end of the lease term when the tenant defaults. Acceleration clauses do not usually cause too much controversy in litigation, but there is...more

Exercised your renewal option late? There may be hope for you yet

by Dentons on

Leasing lawyers are very quick to point out to their clients how critical it is that renewal or extension options are exercised precisely in the manner set out in the lease. Cases to date have strictly interpreted renewal...more

The HVCRE Easter Egg for Community Banks

by Bryan Cave on

We have written several times about the rules concerning the appropriate risk weighting for High Volatility Commercial Real Estate (“HVCRE”) loans. The interagency FAQ published on April 6, 2015 provided some guidance but...more

ESOS – Lessons Learned and Looking to the Future

by Hogan Lovells on

Large businesses will remember the challenges of trying to comply with Phase I of the Energy Savings Opportunity Scheme (ESOS) in the run up to Christmas 2015. “Trying” was the operative word because “lead assessors” (who are...more

Oil & Gas Rights and CMBS Servicing—Transfer Considerations

Question: The borrower pledged oil and gas rights related to the collateral property to the lender. The borrower has notified the servicer that it would like to sell these oil and gas rights. Can the lender approve the lease...more

HVCRE: Some Answers on the Horizon?

by Seyfarth Shaw LLP on

Since its implementation, the High Volatility Commercial Real Estate (HVCRE) rules have created certain questions and concerns for banks and borrowers alike in real estate lending transactions. Bi-partisan legislation (H.R....more

Commercial Borrowers Should be Familiar with the Refinance Exemption in Order to Avoid Paying More Taxes than Necessary

by Miles & Stockbridge P.C. on

It is pretty well known that Maryland imposes taxes upon the sale/purchase of real property. The State requires both a recordation tax and a transfer tax to be paid whenever an ownership interest in property is transferred....more

EMI and Frankenstein: Not dead yet

by Hogan Lovells on

Last year, we blogged here on the case of EMI Group Limited v O&H Q1 Limited. EMI was a case in which an assignment of a lease was rendered void, as it offended the provisions of the Landlord and Tenant (Covenants) Act 1995...more

WV Court Rules Earth Movement Exclusion Unambiguously Precludes Coverage Regardless of Whether Landslide Was a Man-Made or...

by Carlton Fields on

In Erie Insurance Property and Casualty Company v. Chaber, No. 16-0490 (W. Va. June 1, 2017), the Supreme Court of Appeals of West Virginia reversed a lower court’s decision, holding that damage caused by a landslide was...more

Understanding Mineral Rights and the Impact on the Value of Your Property

by Miles & Stockbridge P.C. on

The United States is one of a handful of countries in which private real property owners can hold and own subsurface mineral rights. In a majority of countries, only the government can own and benefit from these rights. ...more

California Supreme Court Holds Localities Can Apply Documentary Transfer Tax to Transfers of Interests in Property-Holding...

by Reed Smith on

The California Supreme Court, in a 6-1 decision, has held that a city or county may impose documentary transfer tax on the transfer of the ownership interests in a legal entity that owns real property located in the locality....more

Oregon Establishes Statute Of Limitations On Appraiser Liability

by Fox Rothschild LLP on

Oregon has enacted legislation establishing a specific statute of limitations on civil actions against appraisers and appraisal firms for real estate appraisal activity. The law takes applies only to appraisals performed...more

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