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Specific Performance of an Option Contract to Purchase Real Property is Barred Absent Agreement on All Material Terms

On November 14, 2017, the Court of Appeals (Division 1), in Offerman v. Granada, LLC, 2017 WL 5352664, reversed a trial court order directing specific performance of an alleged option to purchase real property, holding that...more

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...

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

Franchisors Should Consider Signing a Conditional Lease Assignment Rather Than a Franchisee’s Lease

In Franchise & High Properties, LLC v. Happy’s Franchise, LLC, a 2015 decision issued by the Court of Appeals in Michigan, the franchisor, Happy’s Pizza Franchise, LLC, signed a five-year lease for the commercial space to be...more

Landlords Must Not be Arbitrary When Denying a Tenant’s Request To Sublease or Assign

So, you’re a landlord who’s entered into a 30-year lease, the lease has rent escalation clauses which are dramatically out of step with the market, and it’s your view that you are therefore losing money every month. The...more

Eminent Domain: Be Careful What You Ask For

The condemnation of property for public works may not always be as clean and easy as the government would like. Although local governments are often critical players in the cleanup and redevelopment of contaminated...more

Property Taxes: A Shopping Center May Not Always be a Shopping Center

In the world of real property taxes, Valuation + Classification = Assessed Valuation. Sounds simple, right? The County Assessor determines the first factor, valuation (subject to certain guidelines under applicable Arizona...more

Guarantors Can Waive Anti-Deficiency Protections

In Arizona, guarantors can now be held liable for deficiencies even where borrowers avoid liability due to Arizona’s anti-deficiency statute. Arizona courts have been active in the last few years in addressing the law...more

Target Court Refuses to Block MasterCard Settlement Reached Prior to Class Certification

In another development in the multi-faceted litigation arising from Target’s December 2013 data breach, Defendant Target announced a tentative $19 million settlement with non-party MasterCard, to resolve claims of...more

Inverse Condemnation: When is Your Claim Precluded by the Arizona Statute of Limitations?

An inverse condemnation of a landowner’s property can occur when a governmental entity: (1) physically takes the property without compensation; or (2) passes a new law that has a serious impact on the value and/or utility of...more

Easements Made Easier: Building Pipelines with the Power of Eminent Domain Under the Natural Gas Act

Any person or entity seeking to construct a natural gas pipeline and successful in obtaining a certificate of convenience and necessity from the Federal Energy Regulatory Commission may exercise the power of eminent domain to...more

Federal Regulators Plan Cybersecurity Assessments for Certain Banks

Federal regulators have substantially elevated cybersecurity risk assessments as yet another monitoring tool. They now view risk assessments not just as relevant to mundane IT issues but as more fundamental for assessing...more

Beyond Real Estate: Publicly Traded Homebuilders (And Other Public Companies) Must be Aware of Cybersecurity and Data Breach...

Generally speaking, publicly traded homebuilders and other public companies must disclose material information in their SEC filings. “Information is considered material if there is a substantial likelihood that a reasonable...more

Bidding on State Land Trust Leases: Even the Top Revenue-Generating Bids Must be Balanced Against Qualitative “Best Use” Factors...

The Court of Appeals recently held that that the Commissioner of the State Land Trust Department properly balanced Wildearth Guardians, Inc.’s higher revenue-generating bid against “best use” qualitative factors set forth in...more

10/21/2013  /  Auction , Leases , Trusts

The U.S. Supreme Court’s Latest Attempt to Differentiate a Fair Quid Pro Quo in the Developer’s Permitting Process From an...

The U.S. Supreme Court has issued an important decision in an attempt to add clarity and help government land use planners understand the difference between reasonable requests and unreasonable demands rising to the level of...more

The Risk of Intent in Your Letter of Intent

Although the press frequently reports cavalierly on the execution of a “letter of intent” (“LOI”), as if it is a meaningless document, a LOI can be enforced if the parties intend to be bound, which turns primarily upon a...more

The Expansive Breadth and Scope of Arizona’s New Revised Uniform Arbitration Act

Recently, the Arizona Court of Appeals determined that under the 2010 Arizona Revised Uniform Arbitration Act, A.R.S. §12-3001, et seq. (the AZ-RUAA), a contractual agreement to arbitrate extends to: (i) arbitration of claims...more

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