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Lenders Fair Market Value

Rivkin Radler LLP

Applying FIRPTA to Short Sales

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State of the “Union” Did you watch the President’s state of the union address the other night? Was it as you expected? Were you hoping for something more? Were you disappointed? Did you find it informative? Maybe...more

Rivkin Radler LLP

Selling Your Business? Take the Money But Defer the Tax?

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Sale of the Business- Imagine Client has just received an attractive, all cash offer for the sale of their business; there is no financing contingency. The buyer has proposed a cash-free and debt-free deal....more

Pillsbury Winthrop Shaw Pittman LLP

Paycheck Protection Program Update: New SBA Guidance Impacting M&A Activity

The Small Business Administration’s latest guidance tells PPP lenders under what conditions they may approve changes of ownership involving PPP borrowers. Standard PPP loan paperwork has required PPP borrowers to seek...more

White and Williams LLP

Debt Forbearance/Settlement Agreements: One of the Most Important and Often Overlooked Clauses

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The economic impact of the global COVID-19 pandemic will likely result in a considerable number of borrower defaults, workouts and debt restructurings. An often overlooked but significant consequence of debt modifications or...more

Pillsbury Winthrop Shaw Pittman LLP

A Single Asset Bankruptcy from the 1990s Gains New Relevance during COVID-19

Three Flint Hill may provide valuable lessons on the use of bankruptcy to reduce real estate debt to match present property values. Chapter 11 strategies may exist for valuable real estate assets that are not producing...more

Orrick, Herrington & Sutcliffe LLP

Distress in Commercial Real Estate - Considerations for the CRE Warehouse Market

There has been increasing use in Europe by non-bank lenders of warehouse finance in the commercial real estate (CRE) lending market. These private financing structures are used by non-bank CRE lenders such as real estate debt...more

Hinshaw & Culbertson LLP

Massachusetts Mortgage Holders Beware — Foreclosure Winning Bids May Now Need to Consider Development Potential of a Property

Under Massachusetts law, a foreclosing lender has a duty of good faith and reasonable diligence to obtain the highest possible price for a property at auction. Until recently, it was considered appropriate for the lender to...more

Holland & Knight LLP

DOL Enters into Another Settlement Agreement with ESOP Trustee

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• The U.S. Department of Labor (DOL) closed out 2017 by entering into yet another settlement agreement with the trustee of an employee stock ownership plan (ESOP). • The latest agreement (the Alpha Agreement) requires Alpha...more

Snell & Wilmer

Arizona Supreme Court Holds a Credit Bid at a Trustee’s Sale Should Not be Credited to a Title Insurer Under a Standard Lender’s...

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The Arizona Supreme Court recently addressed what impact, if any, a lender’s credit bid at an Arizona trustee’s sale has on an insurer’s liability under Sections 2, 7 and 9 of the standard’s lender’s title policy (“Policy”),...more

Spilman Thomas & Battle, PLLC

Highmark Properties Revisited: Lender Credit Bids

The dust has yet to settle on the landmark decision of High Point Bank & Trust Co. v. Highmark Properties, LLC, 776 S.E.2d 838 (N.C. 2015). Before delving into the decision that should serve as a harbinger of imminent and...more

Spilman Thomas & Battle, PLLC

Guarantors Can Use Anti-Deficiency Statute in North Carolina

The North Carolina Supreme Court recently handed down the final word in a dispute over whether guarantors get the benefit of the state’s anti-deficiency statute after the lender bids on and buys the real property at a...more

Nexsen Pruet, PLLC

Deficiency Judgment Cases In North Carolina Just Got A Lot More Complex: CentsAbility: Creditors' Rights Law Update

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A question that continually arose during the foreclosure deficiency actions that were spurred by the recent “Great Recession,” was whether or not a guarantor on a loan could raise the “defense” offered in N.C. Gen. Stat. §...more

Parker Poe Adams & Bernstein LLP

Tough News for Lenders - Major NC Supreme Court Decision on Collection of Post-Foreclosure Deficiencies

Fall is football time. And as every football fan knows, not every player on the line of scrimmage is an eligible receiver. Imagine how dramatically it would change the game if the entire offensive line were eligible to catch...more

Clark Hill PLC

2015 Update of Arizona's Anti-Deficiency Laws

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Deadline for seeking deficiency. Section 33-814(A) of the Arizona Revised Statutes allows a foreclosing creditor (the "beneficiary"), within 90 days after the date of a trustee's sale, to commence an action to recover a...more

Snell & Wilmer

Can an HOA "Super-Priority" Lien Extinguish a Lender's Deed?

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It is hard to imagine that a lender’s first-position deed of trust on a residence worth hundreds of thousands of dollars could be extinguished by a homeowners’ association (HOA) lien for overdue neighborhood assessments,...more

Baker Donelson

Tennessee’s Deficiency Statute and Out-of-State Deficiency Judgments

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We've previously written about Tenn. Code Ann. § 35-5-118, which governs deficiency suits in Tennessee. As explained in that post, a lender is typically entitled to recover its full deficiency unless the foreclosure sales...more

Winstead PC

Court Upheld A Waiver Of Property Code Rights And Affirmed A Deficiency Judgment Based On The Foreclosure Price

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In New Millennium Homes, Inc. v. Texas Community Bank, NA, a debtor appealed a summary judgment granted to a lender based on a deficiency claim. No. 09-12-00073-CV, 2013 Tex. App. LEXIS 1598 (Tex. App.—Beaumont February 21,...more

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