Call 855-808-4530 or email [email protected] to receive your discount on a new subscription.
Part One of this article, last month, outlined the basic elements of a subordination, non-disturbance and attornment agreement (SNDA), which regulates two competing interests in the same property — tenant's right to possess its premises pursuant to its lease and mortgage lender's security interest in that same premises. Part Two explains the differences between the concepts of "non-disturbance" and "recognition," while contending that lease recognition is more important to the tenant than not having its possession disturbed.
A covenant is simply an agreement. An in personam covenant binds the person who grants the covenant, whereas an in rem covenant binds a thing. Black's Law Dictionary indicates that "in personam" is a Latin phrase meaning "against a person" and that "in rem" is a Latin phrase meaning "against a thing." In personam, and In rem, Black's Law Dictionary (9th ed. 2009). In the real property context, in rem covenants are sometimes referred to as "real covenants" whereas in personam covenants are "personal covenants." A personal covenant only binds the person who makes the covenant and any successor who expressly assumes that covenant. In contrast, a real covenant binds the real property itself and is sometimes said to "run with the land." Any person who succeeds to the ownership of the property will also be bound to honor the real covenant, whether or not he or she expressly agrees to assume it, so long as he or she has actual or constructive notice of the covenant.
ENJOY UNLIMITED ACCESS TO THE SINGLE SOURCE OF OBJECTIVE LEGAL ANALYSIS, PRACTICAL INSIGHTS, AND NEWS IN ENTERTAINMENT LAW.
Already a have an account? Sign In Now Log In Now
For enterprise-wide or corporate acess, please contact Customer Service at [email protected] or 877-256-2473
Why is it that those who are best skilled at advocating for others are ill-equipped at advocating for their own skills and what to do about it?
There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.
The DOJ's Criminal Division issued three declinations since the issuance of the revised CEP a year ago. Review of these cases gives insight into DOJ's implementation of the new policy in practice.
Active reading comprises many daily tasks lawyers engage in, including highlighting, annotating, note taking, comparing and searching texts. It demands more than flipping or turning pages.
Blockchain domain names offer decentralized alternatives to traditional DNS-based domain names, promising enhanced security, privacy and censorship resistance. However, these benefits come with significant challenges, particularly for brand owners seeking to protect their trademarks in these new digital spaces.