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Prevent Your Tenant Mix from Turning Your Property into a 'REC'
Over the past 30 years, an increasing number of properties have been and continue to be classified as having some kind of recognized environmental condition (a “REC”). The REC classification arises from the U.S. Environmental Protection Agency (the “EPA”) crackdown over the past few decades to ensure that property owners and the parties who are responsible for causing the contamination actually share in the cost and burden of the remediation process (42 U.S.C. ”9601 to 9675 (“CERCLA”).
In an effort to provide a road map or plan to address the issues, the EPA continues to further develop its regulations to make sure that the responsible parties are being held responsible (“the polluter pays”). The EPA has developed a methodology enabling various “innocent” parties to limit their liability regarding a contaminated property. This approval is embodied in the so-called 2002 Brownfields Amendments to CERCLA. See Small Business Liability Relief and Brownfields Revitalization Act (2002) Pub. Law 107-118. In many cases, Brownfields protections have proved to be an incentive to development as a particular contaminated property might not be a candidate for redevelopment if these guidelines were not in place. The methodology created by the EPA, while a vast improvement toward targeting the responsible parties, still places a significant burden on a landowner and prospective purchaser wishing to limit their environmental liability.
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The Article 8 Opt In
The Article 8 opt-in election adds an additional layer of complexity to the already labyrinthine rules governing perfection of security interests under the UCC. A lender that is unaware of the nuances created by the opt in (may find its security interest vulnerable to being primed by another party that has taken steps to perfect in a superior manner under the circumstances.
Beach Boys Songs Written Decades Ago Triggered Current Quarrel With Lawyers
There's current litigation in the ongoing Beach Boys litigation saga. A lawsuit filed in 2019 against Nevada residents Mike Love and his wife Jacquelyne in the U.S. District Court for the District of Nevada that alleges inaccurate payment by the Loves under the retainer agreement and seeks $84.5 million in damages.
Major Differences In UK, U.S. Copyright Laws
This article highlights how copyright law in the United Kingdom differs from U.S. copyright law, and points out differences that may be crucial to entertainment and media businesses familiar with U.S law that are interested in operating in the United Kingdom or under UK law. The article also briefly addresses contrasts in UK and U.S. trademark law.
Strategy vs. Tactics: Two Sides of a Difficult Coin
With each successive large-scale cyber attack, it is slowly becoming clear that ransomware attacks are targeting the critical infrastructure of the most powerful country on the planet. Understanding the strategy, and tactics of our opponents, as well as the strategy and the tactics we implement as a response are vital to victory.
Transfer Tax Implications on Real Property Leases
The real property transfer tax does not apply to all leases, and understanding the tax rules of the applicable jurisdiction can allow parties to plan ahead to avoid unnecessary tax liability.