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Lenders Rent

ArentFox Schiff

NYC’s Rent Stabilization Laws Upheld by Supreme Court in Light of Affordable Housing Challenges Nationwide

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On February 20, the US Supreme Court declined to hear challenges brought by rental unit owners to recent changes made to New York City’s Rent Stabilization Laws. Since these changes went into effect in 2019, news outlets have...more

Kerr Russell

New Law Clarifies Lenders’ Rights To Collect Rent From Tenants Of A Borrower

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When a landlord defaults on a mortgage of its rental property, the lending institution will typically seek to collect rent from the borrower’s tenants in order to secure repayment of the loan....more

Miller Canfield

When do Secured Lenders Have to Pay for Operating Expenses?

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Secured lenders whose commercial loans are in default often face a serious question: should they allow a commercial property’s expenses to be paid, potentially increasing their losses? Or should they minimize their immediate...more

Miller Canfield

Hotel Revenues Are "Rents" Under New Michigan Law

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On June 24, 2022, Michigan passed the Michigan Uniform Assignment of Rents Act (MUARA). When it did, Michigan became the first state with a Uniform Assignment of Rents Act that expands the definition of "rents" to include...more

Miller Canfield

Michigan Adopts Its Version of the Uniform Assignment of Rents Act

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In May 2017, we highlighted the Sixth Circuit’s opinion in Town Center Flats. Briefly, Town Center Flats held that ownership of a commercial property’s rents transferred to a lender when (1) a commercial loan is secured by a...more

Kaufman & Canoles

Commercial Real Estate Receiverships: History, Factors, and Types of Receiverships

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Historically, receiverships for commercial real estate were used to collect rents and fees generated by income-producing properties prior to the completion of foreclosure sales on those properties. While receiverships are...more

K&L Gates LLP

COVID-19: Real Estate - A 50-State Guide to COVID-19 Property Policies and Regulations - March 2021 #1

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The global COVID-19 outbreak has encouraged widespread orders to protect renters and owners of commercial and residential real property. In this 50 state-by-state survey we offer a summary of cities and states that have...more

Perkins Coie

Landlords Defeat Debtors Seeking COVID-19 Rent Abatements and Deferrals

Perkins Coie on

Retail, restaurant, entertainment, and other industries have been devastated by COVID-19 and the resulting governmental orders either precluding or materially limiting operations. In that regard, retail bankruptcy filings...more

K&L Gates LLP

COVID-19: Real Estate - A 50-State Guide to COVID-19 Property Policies and Regulations - December 2020 #1

K&L Gates LLP on

The global COVID-19 outbreak has encouraged widespread orders to protect renters and owners of commercial and residential real property. In this 50 state-by-state survey we offer a summary of cities and states that have...more

K&L Gates LLP

COVID-19: Real Estate - A 50-State Guide to COVID-19 Property Policies and Regulations - November 2020 #3

K&L Gates LLP on

The global COVID-19 outbreak has encouraged widespread orders to protect renters and owners of commercial and residential real property. In this 50 state-by-state survey we offer a summary of cities and states that have...more

Hahn Loeser & Parks LLP

IRS Disallows Deductions Funded With PPP Loans That Are Expected To Be Forgiven

Hahn Loeser & Parks LLP on

The Internal Revenue Service (“IRS”) ruled on November 18 that taxpayers that received Paycheck Protection Program (“PPP”) loans and used the proceeds to pay otherwise-deductible expenses may not deduct the payments if the...more

Bowditch & Dewey

Massachusetts Commits $171MM for Programs to Help Tenants and Landlords Impacted by COVID-19

Bowditch & Dewey on

As we have previously reported, in March the Commonwealth instituted an eviction and foreclosure moratorium which, among other things, provided a financial backstop for landlords effected by their tenants’ inability to make...more

K&L Gates LLP

COVID-19: Real Estate - A 50-State Guide to COVID-19 Property Policies and Regulations - November 2020 #2

K&L Gates LLP on

The global COVID-19 outbreak has encouraged widespread orders to protect renters and owners of commercial and residential real property. In this 50 state-by-state survey we offer a summary of cities and states that have...more

K&L Gates LLP

COVID-19: Real Estate - A 50-State Guide to COVID-19 Property Policies and Regulations - November 2020 #1

K&L Gates LLP on

The global COVID-19 outbreak has encouraged widespread orders to protect renters and owners of commercial and residential real property. In this 50 state-by-state survey we offer a summary of cities and states that have...more

K&L Gates LLP

COVID-19: Real Estate - A 50-State Guide to COVID-19 Property Policies and Regulations - October 2020 #3

K&L Gates LLP on

The global COVID-19 outbreak has encouraged widespread orders to protect renters and owners of commercial and residential real property. In this 50 state-by-state survey we offer a summary of cities and states that have...more

K&L Gates LLP

COVID-19: Real Estate - A 50-State Guide to COVID-19 Property Policies and Regulations - October 2020 #2

K&L Gates LLP on

The global COVID-19 outbreak has encouraged widespread orders to protect renters and owners of commercial and residential real property. In this 50 state-by-state survey we offer a summary of cities and states that have...more

K&L Gates LLP

COVID-19: Real Estate - A 50-State Guide to COVID-19 Property Policies and Regulations - September 2020 #1

K&L Gates LLP on

The global COVID-19 outbreak has encouraged widespread orders to protect renters and owners of commercial and residential real property. In this 50 state-by-state survey we offer a summary of cities and states that have...more

Kelley Drye & Warren LLP

Real Estate Industry Alerts Tracker - July 2020 Issue #5

HOPE Act: Congressmen Taylor, Lawson and Barr Introduce Legislation to Address the Pending Crisis in the Commercial Real Estate Market - Texas Representative Van Taylor, Florida Representative Al Lawson, and Kentucky...more

Lowndes

Governor DeSantis Extends Moratorium on Evictions and Foreclosures until July 1

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Yesterday, Florida Governor Ron DeSantis extended, for a second time, a previous executive order that suspended and tolled any Florida Statute that allows landlords to evict residential tenants for non-payment of rent, and...more

Spilman Thomas & Battle, PLLC

Watch List - Proposed Rent and Mortgage Cancellation Act of 2020 Suspends Payments During Pandemic but Requires Landlords and...

On April 17, a bill was introduced in the United States House of Representatives seeking to create the Rent and Mortgage Cancellation Act of 2020. The primary feature of the bill is it would suspend all rent and mortgage...more

Seyfarth Shaw LLP

A Roadmap for CRE Loan Document Review in connection with Waiver, Forbearance and Modification Requests During the COVID-19...

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As income streams are interrupted due to loss of rents in the midst of business closures during the continuing pandemic, many borrowers are reaching out to their lenders to discuss debt service and other relief under their...more

Seyfarth Shaw LLP

New Rent Reduction Laws Proposed in New York May Be Better for Landlords, But May Still Be Challenged

Seyfarth Shaw LLP on

As discussed in prior updates, lawmakers in New York previously introduced bills that would, if enacted, temporarily suspend rent payments for certain residential and small business commercial tenants unable to pay rent due...more

Ballard Spahr LLP

Advice to Companies Engaging in Restructuring Documents With Lenders and Landlords

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We are currently at the beginning of an economic downturn being driven by a worldwide, viral pandemic that has resulted in an abrupt and massive disruption of normal business....more

Hogan Lovells

Nationwide announces position on onerous ground rents

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Nationwide announced recently that it will not lend on new build residential leasehold properties if the amount of ground rent is more than 0.1% of the purchase price....more

Foley & Lardner LLP

Sixth Circuit Court of Appeals Holds Properly Perfected Assignment of Rents Not Property of Bankruptcy Estate

Foley & Lardner LLP on

In a significant ruling impacting commercial real estate lenders in Michigan, the 6th Circuit Court of Appeals has ruled that an absolute assignment of rents that had been fully perfected (by demanding payment from tenants to...more

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