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Major Changes Proposed to UK Tax Regime for Non-resident Investors in UK Commercial Property

by Proskauer - Tax Talks on

The UK Government has announced in today’s Budget (22 November) that it is launching a consultation on extending the scope of UK tax on real estate. Currently, non-UK residents who are investors in UK land and buildings...more

Pennsylvania Act 170 of 2016: Implications for Real Estate Transactions

by Blank Rome LLP on

In late 2016, Act 170 of 2016 (“Act 170”) was signed into law, heralding changes to the existing laws covering unincorporated entities in Pennsylvania. Act 170 went into effect on February 21, 2017, for newly formed general...more

Proposed U.S. Tax Reform May Impact Investments in U.S. Real Estate

by Mintz Levin on

Last week, the long-awaited proposed bill for a comprehensive reform of the U.S. tax code (the “Proposed Tax Reform”) was finally released. While the Proposed Tax Reform is likely to be heavily negotiated further and possibly...more

Trends in Tenant Leasing Positions

by King & Spalding on

Recent statistics indicate that tenants are asking for more from landlords in a variety of different asset classes, and most landlords are left with having to say yes. The leverage in lease negotiations appears to have...more

Claims Stemming from Government Regulated Flooding After Hurricane Harvey

by Zelle LLP on

In August, Hurricane Harvey directly hit the city of Houston, leaving substantial wind and flood damage in its wake. Many home and business owners who avoided flood damage breathed a sigh of relief on August 28 when the...more

Strategic Alternatives for Real Estate Portfolios Part III – Initial Public Offering (IPO) Transactions

by King & Spalding on

The review of strategic alternatives can be a daunting task even for the most seasoned executives and directors of real estate companies and real estate investment trusts. This is particularly true in today’s real estate...more

Condominiums And The California Corporate Securities Law

by Allen Matkins on

Some four years ago, I wrote about the Ninth Circuit Court of Appeals’ holding in Salameh v. Tarsadia Hotel, 726 F.3d 1124 (9th Cir. 2013). For those readers who don’t remember the post or the case, the Court of Appeals held...more

S-corporations – Time to Roll In your Rental-Income Benjamins

by Miles & Stockbridge P.C. on

In Private Letter Ruling 201725022 (the “PLR”), the IRS determined that rental income an S-corporation received from its operations is not passive investment income that would subject the S-corporation to termination. In...more

What You Should Be Doing with Your Replacement Reserves

by Hellmuth & Johnson PLLC on

Most association governing documents contain provisions requiring the association to establish and maintain one or more reserve accounts that are used to set aside funds for the future maintenance or replacement of components...more

Hurricanes Harvey & Irma Spin a Web of Business Interruption Claim Issues

by Wilson Elser on

The 2017 Hurricane Season will be long remembered. Hurricane Harvey will likely be deemed the most destructive and expensive natural disaster to impact the continental United States. Harvey made initial landfall on August 25,...more

Business Succession for Real Estate Companies

Planning for a business succession – sale or transition of a business to new owners – is as important as planning for business formation or business operations. In our experience, however, planning for business succession is...more

Japan Legal Update - Volume 29 | September 2017

by Jones Day on

Corporate Governance - Tokyo Stock Exchange Introduces Disclosure System for Information about Advisors and Counselors - On August 2, 2017, the Tokyo Stock Exchange announced new amendments to the Guidelines for...more

It’s the Taxes, Stupid

by Dechert LLP on

In this commentary we have talked about a lot of challenges facing commercial real estate finance and other capital market activities over the years. With more or less “pants on fire” anxiety, we’ve talked about Dodd-Frank’s...more

Virginia’s Tourism Development Financing Program Gains Steam Around the State

by Williams Mullen on

The unique financing alternative afforded to tourism project developers under Virginia Code Section 58.1-3851.1 creates exciting opportunities for growth in tourism and resort areas throughout the state. The expected...more

When Can an Outside Attorney Serve as a Special Litigation Committee in an LLC Derivative Suit? When the Parties’ Contract Says...

In a decision handed down on August 15, 2017 by the New York Appellate Division First Department, the court endorsed the practice of the appointment of a Special Litigation Committee (SLC) by a limited liability company (LLC)...more

Why Do I Have A Hurricane Harvey Claim From Hoboken?

by Zelle LLP on

As businesses and insurers sort out the impacts of Hurricane Harvey, it will take time to assess the physical damage and resulting business interruption losses. Invariably, however, business interruption impacts from Harvey...more

Hurricane Irma: Maximizing Insurance Recoveries

Hurricane Irma’s epic scope and wind speed suggest that affected businesses and other organizations take immediate and proactive steps to maximize insurance recovery....more

Hurricane Harvey: Don’t Get Shortchanged on Your Insurance Recovery for Property Damage and Business Interruption Losses

by King & Spalding on

After making landfall early Saturday morning as a major hurricane, Tropical Storm Harvey has left a widespread path of destruction, significantly damaging the infrastructure in the Houston area and Southeastern Texas,...more

Tenants Beware – The Ninth Circuit Has Ruled That The Bankruptcy Code Can Be Used By A Landlord To Strip A Tenant’s Right To...

by Ervin Cohen & Jessup LLP on

Just last month, the Ninth Circuit issued a ruling in the case of Matter of Spanish Peak Holding II, LLC, that is potentially devastating to a tenant that leases property from a landlord that files for bankruptcy relief....more

Part Cash, Part Stock, 100% Taxable – New IRS Guidance on RIC and REIT Distributions

by Dechert LLP on

The U.S. Internal Revenue Service (“IRS”), on August 11, 2017, issued Revenue Procedure 2017-45 (the “New Revenue Procedure”).1 Pursuant to the New Revenue Procedure, the IRS will treat part cash and part stock distributions...more

Tax Court Decides First Micro Captive Case

On August 21, 2017, the Tax Court issued its opinion in two companion cases Benyamin Avrahami and Orna Avrahami v. Commissioner, and Feedback Insurance Company, Ltd. v. Commissioner, 149 T.C. No. 7, holding against the...more

“Spanish Peaks” and Leases in a Landlord’s Bankruptcy – Tenants Beware!

The recent Spanish Peaks decision from the Ninth Circuit (covering Alaska, Arizona, California, Hawaii, Idaho, Montana, Nevada, Oregon and Washington) deepens the split in case law on the ability to strip off leases in a...more

Hurricane Harvey: Insurance Implications

Hurricane Harvey, projected to be the most powerful storm to strike the United States since 2005, is bearing down on the Texas coastline and may make landfall as soon as Friday, August 25. Forecasters say it will likely have...more

IRS Issues Guidance on Stock/Cash Dividends for REITs and RICs

On August 11, 2017, the Internal Revenue Service released guidance allowing publicly offered real estate investment trusts and regulated investment companies to distribute earnings in a combination of cash and stock as long...more

CA Supreme Court: Entity Ownership Change Can Trigger Documentary Transfer Tax

Many entities are formed for the sole purpose of buying and holding real estate. In this setup, legal title is held by the entity itself (not the entity’s owners), but the entity’s owners have a “beneficial interest” that...more

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