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On May 3, 2024, the Zakat, Tax and Customs Authority (“ZATCA”) issued amendments to the Real Estate Transaction Tax (“RETT”) Implementing Regulations. The RETT Implementing Regulations were first introduced on October 4,...more
On December 15, 2022, the United States Environmental Protection Agency (EPA) published the Final Rule, entitled "Standards and Practices for All Appropriate Inquiries," updating the Phase I Environmental Site Assessment...more
Purchasers of contaminated property are often familiar with obtaining a Phase 1 Environmental Site Assessment (ESA) in the hopes of maintaining the CERCLA bona fide prospective purchaser defense, but sometimes they overlook...more
The Phase I Environmental Site Assessment (“ESA”) is the quintessential environmental diligence tool for transactions involving real property. A Phase I ESA includes a site inspection and review of current and past uses and...more
Owners and buyers of commercial buildings are increasingly using drones also known as unmanned aircraft systems (UAS), to inspect roofs and other exterior elements of buildings. In addition to making it easier to access the...more
For many years, it has been standard practice for prospective purchasers and even tenants to conduct a Phase I Environmental Site Assessment (“ESA”) before acquiring a new property interest. This is for two important reasons:...more
The New York Department of Financial Services has sent a letter to the institutions that it regulates requiring each such institution, by February 7, 2020, to provide to DFS a description of its “plan to address its LIBOR...more
In its “Risk Outlook, Autumn Update” (“Update”) released last week, the Solicitor Regulation Authority (“SRA”), a regulator of solicitors and law firms in England and Wales, found that although the legal sector remains at...more