It is important for a secured lender to protect itself when entering a transaction with a borrower or lessee to avoid a total loss if the borrower or lessee files a bankruptcy petition or if the leased equipment is damaged, missing or both.
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. Now, attention is starting to pick up as the program takes shape.
The courts issued 41 decisions in 2017 under the New York State Environmental Quality Review Act, and changes were made to regulations themselves this year. This article summarizes the most important of these cases and regulation changes, and the patterns they represent.
Tenant Improvement Does Not Shift Repair Responsibility Away from Landlord
Attorney Fees Not Court-Ordered Cannot Be Recouped by Withholding Rent
In a case of first impression, and after it decided public policy would not be offended, New York's Appellate Division, Second Department, decided earlier this year that commercial tenants may contractually waive the right to seek a Yellowstone injunction in 159 MP Corp. v. Redbridge Bedford,
Part Two of a Two-Part Article
Part One of this article discussed changes affecting real estate including the pass-through business deduction adopted in new §199A of the Tax Act. Part Two expands upon the workings of the pass-through business deduction (pass-through deduction).
One of the significant updates to the law is that now, a tenant at an industrial or manufacturing site can, under appropriate circumstances, claim the “bona fide prospective purchaser” defense to Superfund liability and escape strict, joint, and several owner/operator liabilities when leasing previously-contaminated property.
Lease Assignee Can Make Claim that Appears to Concern Only Property's Owners
