Seyfarth Synopsis: On the heels of the enactment of a similar order in Mecklenburg County, which went into effect Thursday, March 26 at 8:00 a.m.i, the Governor of the State of North Carolina has enacted a statewide...more
3/28/2020
/ Buyers ,
Commercial Real Estate Contracts ,
Coronavirus/COVID-19 ,
Deeds ,
Foreign Acquisitions ,
Inspections ,
Mortgages ,
North Carolina ,
Property Ownership ,
Purchase and Sale Agreements ,
Real Estate Transactions ,
Real Estate Transfers ,
Registration Requirement ,
Residential Real Estate Contracts ,
Sellers ,
Shelter-In-Place
The closure of local recorders’ and county clerks’ offices in the wake of COVID-19, and the prospect of future closures, has had a profound effect on commercial real estate transactions. This is particularly true in New York...more
3/27/2020
/ Borrowers ,
Business Interruption ,
Construction Project ,
Enforcement ,
Executive Orders ,
Government Shutdown ,
Lenders ,
Loans ,
Mechanics Lien ,
New York ,
State and Local Government
States across the country have taken measures to prevent the spread of COVID-19, including implementing closures of non-essential businesses. The increase of individuals working from home has prompted the commercial real...more
In the next couple of weeks, landlords will know who can pay rent. In April, lenders will know which landlords can pay their mortgages. No one knows how long the pandemic and revenue disruption will last. In the interim, a...more
The economic effects of COVID-19 are likely to cause many commercial mortgage loans to go into default. Under such circumstances, one of the first steps lenders and servicers will take will be to send out default notices to...more
3/23/2020
Whether you are a lender, loan servicer, borrower or guarantor, there are many aspects to consider - under normal circumstances - when modifying a commercial mortgage loan. As COVID-19 continues to impact the commercial real...more