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Given the downward pressure on commercial real estate valuations in many areas, and the increasing likelihood that owners of real property will cease paying real property taxes when there is no longer any equity, this article reports on a recent Ninth Circuit decision that reversed a decision of the bankruptcy court, affirmed by the district court, allocating the distribution of the proceeds of a sale of real property pro rata between the Internal Revenue Service on account of its tax lien, and the bankruptcy estate.
Features
This past December, the Appellate Division, First Department struck down a key provision of New York City’s recently amended Zoning Resolution.
Columns & Departments
Yellowstone Injunction Denied Because Failure to Procure Insurance Is an Incurable DefaultLandlord Bound By Agreement Setting Market Rent At Pandemic Levels
Columns & Departments
In Tax Foreclosure Proceeding, Condominium Board Entitled to Recover Only Those Common Charges Covered By Its LienProprietary Lease Gave Co-Op Authority to Mandate Removal of Whirlpool
Features
Because franchise brokers have been historically free from making any type of disclosures about their pre-exiting relationship with the franchise companies they are marketing to the prospect, the prospect often feels that the broker is working for them, when in fact, the broker has a financial incentive to make a sale.
Features
The Trump administration wants to sell two-thirds of the government’s office stock to the private sector. The actions could have a significant impact on the DC property market. Many landlords depend on the government as an anchor tenant. If the space is suddenly cut loose, it could fall in value and leave owners without many options.
Columns & Departments
Mortgagee’s Claim Time-BarredEasement By Prescription EstablishedHearing Necessary for License FeeQuestions of Fact About Right to Park Over Servient LandMonuments Take Priority Over Metes and Bounds Description
Features
Companies need to seriously consider the potential antitrust risks when using AI-driven or algorithmic software-based third-party services for things such as pricing or inventory management. These tools can increase efficiency, but can also lead to serious antitrust risks.
Features
One of the most significant calls on cash in a bankruptcy involves post-petition rent obligations due on leased facilities. Under the Bankruptcy Code, post-petition obligations with respect to leased “nonresidential real property” must be timely paid. While the code draws a distinction between residential and nonresidential real property, there is no explicit definition of “nonresidential,” thus creating difficult issues in certain health care cases.
Features
The Wholesale Real Estate Transaction Transparency and Protection Act, which requires real estate wholesalers to obtain licensing and grants additional protections to property owners in wholesale transactions, will take effect on Jan. 4, 2025.