Practical perspectives for contemporary legal challenges.
In evaluating the feasibility and profitability of a potential investment, it’s crucial for a prudent buyer to conduct a comprehensive review of all property leases. Such an examination allows the buyer to verify the property’s cash flow and identify any potential risks or liabilities. However, determining whether tenants are indeed adhering to their lease obligations …
Continue reading “Leveraging Tenant Estoppel Certificates in Commercial Real Estate Deals”
In Michigan, every document submitted for recordation with a register of deeds must adhere to MCL 565.201. Among these requirements, the first line of print on the first page of the instrument must display a single statement identifying the recordable event associated with the instrument (MCL 565.201(1)(f)(ii)). The statute explicitly states that after April 1, …
Continue reading “Navigating Michigan’s “One Recordable Event” Rule”
In a typical real estate transaction, there’s often a critical period between the closing and the official recording of documents—a period aptly known as the “gap.” This “gap” introduces a degree of risk, leaving room for unexpected encumbrances like liens or adverse judgments to rear their heads before the ink dries on the transaction documents. …
Continue reading “Beyond Closing: The Power of a Gap Indemnity”
In a recent legal development, the 11th US Circuit issued a consequential verdict in Shen v. Simpson, a federal lawsuit challenging Florida’s Conveyances to Foreign Entities Act (SB 264), which restricts individuals from China and other “foreign countries of concern” from owning real property in the state. This ruling has far-reaching implications for the constitutional …
Continue reading “Florida’s Foreign Entities Act Declared Unconstitutional in Recent Ruling”