Commercial Law

A commercial real estate attorney representing a client that needs title insurance in a commercial real estate transaction must consider which endorsements would be best to provide the client with all the necessary title insurance protection. This two-part article addresses which American Land Title Association ('ALTA') endorsements are typical when representing a buyer, tenant, or lender in an acquisition or lease of commercial property. In addition, the article discusses a few non-ALTA endorsements that are available in many states.

Part One of this three-part article discussed credit support transactions in general. This installment concentrates on income support.

For years, the commercial real estate market has been sizzling.Cap rates are down. Prices are up.Nevertheless, you managed to beat out the competition and buy a few shopping centers. To justify the price you paid, however, you need to increase the net operating income ('NOI') from your property. Now, however, the economy may be facing the headwind of a slowdown, if not an outright recession, which creates resistance to rent increases; so you may not be able to rely on ordinary rent increases to bolster your NOI.

Recent rulings that may affect your business.

Marshall Grossman and Stanton 'Larry' Stein may be in for some awkward elevator rides. The two heavyweights at L.A.'s Alschuler Grossman Stein & Kahan officially divorced Jan. 1, after a year-long tug-of-war over the future of the 90-lawyer firm they'd fused together seven years ago. Now they've got their own firms, but they're just one floor away in Santa Monica's Water Garden building.

Automakers have implemented an incredible amount of safety features into vehicles over the past century. For as long as automakers have been implementing those features into vehicles, however, they have had to defend themselves against critics and purported safety advocates wanting to know why a particular safety innovation was not implemented sooner and why it was not more effective, as consumers 'expected.' On their face, many safety-related criticisms appear valid, given that in 2005 alone, more than 2.7 million people were killed or injured in more than six million police-reported traffic accidents. See NHTSA's National Center for Statistics & Analysis, Motor Vehicle Traffic Crash Fatalities and Injuries — 2005 Projections, DOT HS-810-583 (2006), available at www-nrd.nhtsa.dot.gov/ pdf/nrd30/NCSA/PPT/2006/810583.pdf.

Employers go to great lengths and expense to reduce their potential exposure to employment-related claims. Most employers implement policies to address the myriad and growing federal, state, and local employment laws; regularly conduct employee EEO training; hire qualified human resources professionals and in-house attorneys with expertise in employment law; and regularly seek advice and assistance from outside counsel concerning these prophylactic measures. The purpose of this article is to apprise readers of a fast, simple, and inexpensive way to reduce their exposure to certain types of employment-related claims through the inclusion of an express waiver ('Waiver') in an employment application or other document signed by applicants or employees. The Waiver contractually reduces to six (6) months the time period within which certain types of employment-related claims must be filed and waives any statute of limitations to the contrary, thereby significantly reducing the number of timely-filed claims and, consequently, the employer's potential exposure.

As many of you know, there are various insurance policies available to protect against employment-related claims. Although some policies, such as employment practices liability (EPL) policies, cover a variety of claims, many cover only specific claims to the exclusion of all others. A recent decision from the U.S. Court of Appeals for the Fourth Circuit highlights some of the interesting issues that can arise in resolving employment claims covered by an insurance policy.