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One of the many provisions of last year’s tax overhaul was the creation of a little-noticed program called Opportunity Zones, which was designed to give investors tax breaks for investments in designated areas. Little was heard about the program as governors went through the process of selecting where the Opportunity Zones would be located within their jurisdictions. The Treasury Department then formally designated over 8,700 low-income communities around the country as Opportunity Zones. Now, attention is starting to pick up as the program takes shape. The real estate community is expressing a lot of interest in the program, and so far at least one investment firm has launched an Opportunity Zone fund.
By Janice G. Inman
In the real estate business, as in many others, the question of just who is contractually responsible when things go wrong is a recurring one, particularly when a closely-held corporation or other business entity is involved.
By Menachem J. Kastner and Ally Hack
The focus of this article is the “early termination provision,” a lease provision that affords landlords the tactical advantage they need. Specifically, this article seeks to: 1) guide the practitioner through the pitfalls of a poorly drafted termination provision; and 2) advise the practitioner how to craft a proper and effective termination provision.
Subtenants Not Entitled to Notice Under Law
Illegal Tenant Activity Negates Insurer’s Responsibility to the Landlord
By Marisa L. Byram and Wheeler Frost
Assignment provisions in a commercial lease often boil down to the following seemingly simple, but more often than not complex, standard: that the lease may only be assigned or the premises subleased with the landlord’s consent, not to be unreasonably withheld. The following examples of case law illustrate how courts have construed this provision under various circumstances.