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This article examines the agreement — known as a Subordination, Non-Disturbance and Attornment Agreement (SNDA) — typically used by hotel lenders, owners and managers to set forth their respective rights upon a foreclosure, and consider disputes that may arise when a party seeks to enforce its SNDA rights.
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Shareholder Not Entitled to Withhold Maintenance Payments for Habitability Breach
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Regulatory considerations and investor demand for transparency are increasingly important drivers behind Environmental, Social and Governance (ESG) disclosure and reporting frameworks, according to a report issued by The CRE Finance Council (CREFC) based on responses from its members.
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Class Certification Appropriate for Claim of Improper Deregulation
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Merger and acquisition activity across the CRE spectrum is likely to continue to be high, though deals will likely be concentrated across the industrial and residential sectors, according to Deloitte.
Features
Section 22-1005 of the New York City Administrative Code provides relief for individuals who guaranteed commercial leases when the tenant defaulted as a result of government orders issued during the early days of the COVID-19 pandemic. In recent months, however, litigation has emerged about the scope of that relief.
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Questions of Fact Remain About Whether Landlord Had Released Corporate Tenant from Liability Yellowstone Injunction Does Not Require Proof of Likelihood of Success Guaranty Expired With Tenant's Initial Lease Term Illegal Use Does Not Preclude Rent Stabilization Status Guarantor Immunity Does Not Apply to Pre-COVID Breaches Class Certification Appropriate for Claim of Improper Deregulation
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Statements By Condo Board Members Cloaked In Common Interest Privilege Shareholder Entitled to Maintenance Abatement for Breach of Warranty of Habitability
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Deference to Trial Court's Determination on Mortgage Priority No Broker Commission for Sale After Expiration of Tail Period Co-Owner Who Did Not Execute Mortgage Not Subject to Equitable Lien By Mortgagee Insufficient Evidence of Delay to Support Laches Defense Against Claim to Set Aside Deed As a Forgery Statements Did Not Defeat Hostility In Adverse Possession Claim
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The doctrine of part performance can overcome the strictures of the Statute of Frauds when parties enter into unwritten business deals, or into written business deals with unwritten ancillary terms and they do not contemplate all of the possible circumstances that might arise in the course of their dealings.