Topics include:
- Recent Changes – HUD & Receiver
- Agency Law
Contract Formation
- License Law and Additional State Law
– Commercial Real Estate
- Estate Considerations
- Foreclosures and Lender-Owned Properties
- Land Banks
In 2016 there were 50,201 exams administered, 22,916 people passed the California real estate exam and became licensed salesperson, according to Bureau of Real Estate January 2017 Indian Wells Forum Presentation. By comparison, just 11,400 people became agents in 2012.
This Bureau of Real Estate figures also shows 46,308 California Real Estate Salesperson Licensee renewed their license, which is 82% renewal rate, 3% higher compared to 2015. 28,482 California Real Estate Broker licensee renewed there license, which is 90% renewal rate, 2% higher compared to 2015.
HOA liens, priority, redemption, Mortgages, Deeds of Trust and more in Washington state. The interplay between the HOA statute, redemption statute, and the recording statute.
Learn the pros and cons of debt financing, equity financing, and hybrid financing to discover how an acquisition should be financed. Discover securities law issues in equity financing under Federal regulations and Louisiana law.
The annual Legal Seminar For Credit Professionals, presented by Kegler Brown in conjunction with NACM – Great Lakes Region and American Subcontractors Association, was combined with an international business and construction legal program. Topics included selling internationally, post-judgment collection, bankruptcy, bids and pay-if-paid clauses.
Home Inspector's Insurance & Risk Management - July 19, 2013Gerald Brunker
Home Inspector professional liability, general liability and other applicable insurances for home inspectors. Risk management tips and hints and home inspector claim information.
Do You Need Help Getting Out of a Timeshare?
Timeshare contracts don't have to burden you forever. During our free event, real estate lawyers will show you how timeshare owners have gotten out of their sales contracts.
Timeshare Cancellation, Termination & Modification
Learn how it's possible to cancel, terminate or modify your sales contract. Regardless of what resort developers tell you, they do let timeshare owners out of their contracts. Developers frequently breach their own contracts and engage in fraudulent activities. Learn how a developer's actions can give you a way out.
Deception
Has the resort told you that you can't make a reservation? Have they told you that you can't rent your week? Are you paying hidden costs or higher fees? Timeshare owners face many surprises after the sales presentation. We'll explain your options.
Sales
The timeshare resale industry is rife with unscrupulous businesses. Resale scams require sellers to pay expensive upfront junk fees. Learn how not to become a victim of these fraudsters.
Dealing with Runaway Maintenance Fees
On average, timeshare maintenance fees increase 8% per year. You might even get stuck paying other costs and assessments as time goes on. The sales team probably didn't tell you about these hidden expenses and fee increases. We'll explain how you can seek relief from this costly headache.
Estate Plan
If you've decided to keep your timeshare, then the next step is creating an estate plan. Timeshare contracts are "in perpetuity," and your heirs will have to continue paying maintenances fees and other costs. Learn how to dispose of your timeshare to prevent your heirs from inheriting the extra expenses.
In 2016 there were 50,201 exams administered, 22,916 people passed the California real estate exam and became licensed salesperson, according to Bureau of Real Estate January 2017 Indian Wells Forum Presentation. By comparison, just 11,400 people became agents in 2012.
This Bureau of Real Estate figures also shows 46,308 California Real Estate Salesperson Licensee renewed their license, which is 82% renewal rate, 3% higher compared to 2015. 28,482 California Real Estate Broker licensee renewed there license, which is 90% renewal rate, 2% higher compared to 2015.
HOA liens, priority, redemption, Mortgages, Deeds of Trust and more in Washington state. The interplay between the HOA statute, redemption statute, and the recording statute.
Learn the pros and cons of debt financing, equity financing, and hybrid financing to discover how an acquisition should be financed. Discover securities law issues in equity financing under Federal regulations and Louisiana law.
The annual Legal Seminar For Credit Professionals, presented by Kegler Brown in conjunction with NACM – Great Lakes Region and American Subcontractors Association, was combined with an international business and construction legal program. Topics included selling internationally, post-judgment collection, bankruptcy, bids and pay-if-paid clauses.
Home Inspector's Insurance & Risk Management - July 19, 2013Gerald Brunker
Home Inspector professional liability, general liability and other applicable insurances for home inspectors. Risk management tips and hints and home inspector claim information.
Do You Need Help Getting Out of a Timeshare?
Timeshare contracts don't have to burden you forever. During our free event, real estate lawyers will show you how timeshare owners have gotten out of their sales contracts.
Timeshare Cancellation, Termination & Modification
Learn how it's possible to cancel, terminate or modify your sales contract. Regardless of what resort developers tell you, they do let timeshare owners out of their contracts. Developers frequently breach their own contracts and engage in fraudulent activities. Learn how a developer's actions can give you a way out.
Deception
Has the resort told you that you can't make a reservation? Have they told you that you can't rent your week? Are you paying hidden costs or higher fees? Timeshare owners face many surprises after the sales presentation. We'll explain your options.
Sales
The timeshare resale industry is rife with unscrupulous businesses. Resale scams require sellers to pay expensive upfront junk fees. Learn how not to become a victim of these fraudsters.
Dealing with Runaway Maintenance Fees
On average, timeshare maintenance fees increase 8% per year. You might even get stuck paying other costs and assessments as time goes on. The sales team probably didn't tell you about these hidden expenses and fee increases. We'll explain how you can seek relief from this costly headache.
Estate Plan
If you've decided to keep your timeshare, then the next step is creating an estate plan. Timeshare contracts are "in perpetuity," and your heirs will have to continue paying maintenances fees and other costs. Learn how to dispose of your timeshare to prevent your heirs from inheriting the extra expenses.
Massachusetts Continuing Education Course - 2 Credits
An interactive and informative course designed to review the most commonly used forms in a real estate transaction. We will look at federal, state and local forms. We will explore the difference between the laws and regulations and the policies and customs regarding their use.
Learn all about the new TREC contract forms required Jan 2016. Power point can be used alone or with text book for 30 hour TREC approved pre-licensing class. www.createspace.com/5249273.
Marcus & Millichap is pleased to exclusively market for sale a Dollar General in Overgaard, Arizona. The Dollar General has been a staple in the town since 2005 and is showing commitment to the location through a recent extension to the lease, which expires July 31, 2020. It is the only Dollar General in town and the next Dollar General is 29 miles away.
With no nearby competition within 30 miles, this is a unique opportunity to acquire an investment with high return and strong corporate guarantee. The lease is guaranteed by Dollar General Corporation, which is publicly traded on the New York Stock Exchange under the ticker “DG” and has a current “BBB” credit rating by Standard & Poors.
Situated 144 miles north of Phoenix, Arizona, Heber-Overgaard is a census-designated place in Navajo County, Arizona. Tourism, retirement, and timbering are the foundations of Heber-Overgaard’s economy.
March 2018 newsletter for the adjudicator nominating body UK Adjudicators. Articles on UK and foreign adjudication cases, FIDIC 2017 and events taking place globally.
What New and Small Businesses Need to Know: Contracts and Agreementslerchearly
This was the fourth in a series of online events co-presented by Lerch, Early & Brewer and the Innovation Station Business Incubator Powered by the Prince George's County Economic Development Corporation.
No two chapter 11 cases are alike and no two chapter 11 cases involving a retail business are alike. There are, nonetheless, certain issues that tend to arise in most retail cases. Among them: the retention of a liquidation firm; lease assumption and rejection; the claim priority of rent during a month that straddles the Petition Date or a rejection date; and consumer deposit issues. This webinar addresses such issues.
Part of the webinar series: CHAPTER 11- INDUSTRY FOCUS 2022
See more at https://www.financialpoise.com/webinars/
BricknBolt Understanding Load-Bearing Walls and Their Structural Support in H...BrickAndBolt
Load-bearing walls are the backbone of any home construction, providing crucial structural support that carries the weight of the house above. For companies like Brick and Bolt Mysore and Bricknbolt Faridabad, understanding and properly implementing these elements are key to constructing safe and durable buildings.
One FNG by Group 108 Sector 142 Noida Construction UpdateOne FNG
One FNG by Group 108 is launching a new commercial project in Sector 142 Noida. Office space and high street retail shops on the FNG and Noida Expressway. For more information visit the website https://www.onefng.com/
500 acres of brilliance await you here at Riverview City which offers modern living, effortless convenience, and a beautiful natural setting. It is a mega township by Magarpatta City in Loni Kalbhor, Pune. Enjoy easy access to work, schools, and fun while experiencing a perfect work-life balance.
Visit - magarpattacity.developerprojects.in
Keep Your Home Naturally Cool and Warm Out Change in Seasons
Vinra Construction is a private limited company registered under the ROC. The management has an experience of over 15 years of understanding the needs and delivering apt solutions to the end users We are providing turnkey solutions in construction fields. like Construction, Interior Designing Facility Management, Plantation Management, etc..
Vinra Construction Tech Enabled Company for Eco-Friendly Home Construction
Contact With Vinra for a Greener Future >>> Call us @ 888 4898 765
Presentation to Windust Meadows HOA Board of Directors June 4, 2024: Focus o...Joseph Lewis Aguirre
Presentation to Windust Meadows HOA Board of Directors June 4, 2024: Focus on Public Safety as Job #1, Engagement, Wealth of HOA, Branding, Communication, Culture, Civic Responsibility
The SVN® organization shares a portion of their new weekly listings via their SVN Live® Weekly Property Broadcast. Visit https://svn.com/svn-live/ if you would like to attend our weekly call, which we open up to the brokerage community.
Simpolo Tiles & Bathware
Tile ho,
toh Simpolo.
Since the first steps were taken in 1977, Simpolo Ceramics has carved its niche as a consistently growing organisation with unparalleled innovation and passion rooted in simplicity.
We endure gratification for every experience we offer, created to share something meaningful. It may not resonate with the majority, but that makes us a class apart. If only a handful were to understand the purpose of our existence, we would be proud to have found our believers. Rather, people with whom we can share our beliefs.
VISUALIZER
Design your space in your style with our very own Visualizer. Now, you can choose the tiles of your liking from our wide selection and see how they would look in a space. Select the tile from the multiple options and the visualiser will replace the surfaces in the image with the selected tiles. This way, instead of just your imagination, you can choose the tiles for your place by getting an actual picture of how they would look in a space. So, design your space the way you desire digitally and implement it in real life to get the best results!
You can also share this visualiser with others to help them design their space.
Committed to delighting customers with world-class ceramic products and services. Make Simpolo synonymous with the best quality and set new benchmarks of excellence for all stakeholders. Pursue best business practices with utmost integrity to make Simpolo an exciting organisation to work with, for vendors, channel partners, investors and employees alike.
Gain worldwide recognition in the field of ceramic building products through Research and Innovation and bring an enhanced lifestyle within reach for every household.
Omaxe Sports City Dwarka stands out as a premier residential and recreational destination, offering a blend of luxury and sports-centric living. Located in the thriving area of Dwarka, this project by Omaxe Limited is designed to cater to modern lifestyle needs while promoting a healthy, active living environment.
Urbanrise Paradise on Earth - Unveiling Unprecedented Luxury in Exquisite Vil...JagadishKR1
Immerse yourself in the epitome of luxury living at Urbanrise Paradise on Earth. These opulent 4 BHK villas, nestled off the prestigious Kanakapura Road in Bangalore, redefine elegance and sophistication. With meticulous craftsmanship, breathtaking design, and unparalleled amenities, Urbanrise Paradise on Earth offers a sanctuary where every moment is infused with luxury and serenity. Experience a life of grandeur and indulgence at this exclusive residential enclave.
Brigade Insignia offers meticulously designed apartments with modern architecture and premium finishes. The project features spacious 3,3.5,4 and 5 BHK units, each thoughtfully planned to provide maximum comfort, natural light, and ventilation.
https://www.newprojectbangalore.com/brigade-insignia-yelahanka-bangalore.html
Flat available for sale
Location- Tupudana, Ranchi
Savitri enclave
Area- 3BHK
Rate- 4000/sq.ft.
Super Build Up Area-1629 sq.ft.
Build-up area-1253 sq.ft.
Rate- 65lakh16k(approx)
Floor available- Flat available in all floor(G+12)
Balcony- 2
Washroom- 2
Parking - CAR PARKING
Amenities- Joggers track,temple, children's park,gym,banquet hall (5 Lakh)
Possession year (Handover year)- Dec 2025
Outside View from the apartment and flat balcony is very beautiful.
For more information contact AASHIYANA STAR PROPERTIES
7766900371
Torun Center Residences Istanbul - Listing TurkeyListing Turkey
THERE IS LIFE IN ITS CENTER!
The most energetic spot of the city that will add utterly different pleasures to your life, with a park that will make Istanbul breathe, delighting indoor and outdoor bistros, cafes, restaurants, the brand-new Food Hall concept, where dozens of unique tastes are served together, market area, cinema, theater, fitness club, SPA and event venue...
All the pleasures that will enrich your lives are awaiting you on the most beautiful side of the city, at Torun Center Residences. In Mecidiyeköy, where the heart of Istanbul beats, business, life and entertainment opportunities are located at the exact center, at Torun Center, the most beautiful side of the city.
Penthouse apartments and different styles of flats from 1 + 1 to 4 + 1, from 100 to 425 square meters in a 42-story residence tower, have been designed for those who want to live in the center of magnificence. Torun Center is the redefinition of a better life with specially landscaped floor gardens, apartment options with private balconies, and automatic glass systems equipped with Trickle Ventilation that offers clean air comfort.
Business and life in the same place
Excellent service
Torun Center has many delightful details, from a swimming pool to sunbathing and resting terrace. With 24/7 concierge services, 24/7 security, valet, technical service, closed-circuit camera system (CCTV), central heating and cooling system, it makes your life easier.
Delightful details
The two-story Torun Center Lounge, with its indoor and outdoor seating areas, children's playroom, private dining and TV lounge, promises unforgettable memories to you and your loved ones with its unique Istanbul view.
Neighboring to the most pleasant square of Istanbul
A few steps from the Torun Center Residences, you can reach the city's most modern city square and open the doors of a quality city life. Torun Center Residences brings together on the same project the long-awaited city life for Istanbul and gourmet restaurants, cafes, gym and SPA, and state-of-the-art cinema and Artı Stage, hosting the most famous plays of the season.
Located at the intersection of alternative public transportation options such as the metro and Metrobus, Torun Center comes to the fore as the most accessible office for both sides of Istanbul. With a central location and rich transportation lines, Torun Center offices make life easier for employees and increase productivity.
Scanning tenants in NYC requires a thorough and compliant approach to ensure you find reliable renters. For a positive rental experience, consider hiring a property management service. Belgium Management LLC specializes in NYC rental property management and tenant relationship management. We prioritize tenant satisfaction, making us a trusted name in New York property management. Our dedicated team ensures tenants feel valued and supported throughout their lease.
Investing In The US As A Canadian… And How To Do It RIGHT!! (feat. Erwin Szet...Volition Properties
=== Investing In The US As A Canadian… And How To Do It RIGHT!! (feat. Erwin Szeto) ===
Ever been curious about Real Estate Investing in the US?? At Volition, for the past 14 years, we have been focused on helping investors invest in over $250M of real estate and generate $100M of wealth in the Toronto market, but we are always open to learning more about other business models and learning from other investors.
The US has always been an intriguing market to invest in. But the US is a big place… if you’re interested in investing in the US, you probably have a lot of questions, like:
☑️ Specifically WHERE should you invest?
☑️ What are the best markets to invest in and why?
☑️ How much are property prices there?
☑️ What are the returns like?
☑️ What is cashflow like?
☑️ Compared to investing in Toronto or other cities in Ontario, what are the benefits / tradeoffs?
☑️ What ownership structure should I use?
☑️ What are the tax implications?
☑️ Can I get financing?
☑️ What are tenants like?
Enter Erwin Szeto, a longtime friend of Volition. Since 2005, Erwin Szeto and his team have navigated the challenging landscape of being landlords in Ontario. Now, they are shifting their focus and guiding their clients' investments toward the more landlord-friendly environment of the USA. This decision comes after assisting Canadian clients in transacting over $440,000,000 in income properties. Faced with issues like affordability constraints, tenant-friendly laws, rent control, and rental licensing in Canada, Erwin sees a clear opportunity in the U.S. Here, there is a significant influx of investments leading to the creation of high-paying manufacturing jobs. Erwin and his clients are poised to capitalize on these opportunities where landlord rights are stronger and there is no rent control.
To facilitate this transition, Erwin has partnered with and become a client of SHARE, a one-stop-shop U.S. Asset Manager. Founded by Canadians for Canadians, SHARE enables as passive an ownership experience as possible for landlords in the U.S., while still maintaining direct, 100% ownership.
Erwin is “Making Real Estate Investing Great Again”!!
Website: https://www.infinitywealth.ca/
Facebook: https://www.facebook.com/iwinrealestate and https://www.facebook.com/ErwinSzetoOfficial
Podcast: https://www.truthaboutrealestateinvesting.ca/
Instagram: https://www.instagram.com/iwinrealestate/ and https://www.instagram.com/erwinszeto/
Rixos Tersane Istanbul Residences Brochure_May2024_ENG.pdfListing Turkey
Tersane Suites Residences is a luxurious real estate project located in the heart of Istanbul, next to the beautiful Golden Horn. This unique development offers hotel concept residences with Rixos management, making it the perfect choice for both homeowners and investors.
The Tersane Suites Residences offers a wide range of options, from studio apartments to spacious four-bedroom units, all designed to the highest standard. The suites are finished with high-quality materials and feature modern, open-plan living spaces, fully-equipped kitchens, and large balconies with stunning views of the city and sea.
One of the standout features of Tersane Suites Residences is the Rixos management, which provides a truly exclusive and upscale living experience. Residents will have access to a range of luxury amenities, including a fitness center, spa, and indoor and outdoor swimming pools. Plus, the on-site restaurants and cafes provide a taste of the local and international cuisine.
The Tersane Suites Residences also offers a great opportunity for investors, as it provides a rental guarantee program. This means that investors can enjoy a steady income stream, with the peace of mind that their property is being managed by a reputable and experienced team.
The location of Tersane Suites Residences is also unbeatable, with easy access to the city’s main transportation links and within close proximity to the historic center, making it the perfect base for exploring all that Istanbul has to offer.
The KA Housing - Catalogue - Listing TurkeyListing Turkey
Welcome to KA Housing, a distinguished real estate development nestled in the heart of Eyüpsultan, one of Istanbul’s most promising districts.
Just 10 minutes from the bustling city center, Eyüpsultan offers a serene escape with the convenience of urban living. The direct metro line ensures seamless connectivity to all parts of Istanbul, making it an ideal location for residents who seek both tranquility and vibrancy.
KA Housing boasts unparalleled accessibility, with proximity to Istanbul Airport only 30 minutes away, facilitating easy international travel. Effortless city access is guaranteed by direct metro and transportation links to Istanbul’s cultural and commercial hubs. Quick access to key metro lines connects you to every corner of the city within minutes, making commuting and exploring the city hassle-free.
The development offers luxurious living spaces with a range of unit layouts from 1+1 to 4+1, designed with meticulous attention to detail. Each unit features balconies or terraces, providing stunning vistas of Istanbul and enhancing the living experience. High-quality materials and superior craftsmanship ensure durability and elegance, while sound-proof insulation and high ceilings (2.95 m) offer comfort and sophistication.
Residents of KA Housing enjoy exclusive on-site amenities, including a state-of-the-art gym, outdoor swimming pool, yoga area, and walking paths. Entertainment options abound with a private cinema, children’s playground, and a variety of dining options including a café and restaurant. Security and convenience are paramount with 24/7 security, a dedicated carpark garage, and an IP intercom system.
KA Housing represents a prime investment opportunity with limited availability in a high-demand area, ensuring enduring value and potential for lucrative returns. Homes in this development provide exceptional value without compromising on quality, offering affordable luxury for discerning buyers. The construction is of the highest quality, built to the latest seismic and disaster resistance standards, ensuring safety and resilience.
The community and surroundings of KA Housing are enriched by close proximity to prestigious universities such as Haliç University, Bilgi University, and Istanbul Ticaret University, making it an ideal location for students and academics. The development is adjacent to the Alibeyköy stream leading into the Halic waters, offering serene natural escapes amidst lush greenery. Residents can enjoy the cultural richness of the area, surrounded by historical and cultural landmarks that blend leisure, nature, and culture seamlessly.
https://listingturkey.com/property/the-ka-housing/
Elegant Evergreen Homes - Luxury Apartments Redefining Comfort in Yelahanka, ...JagadishKR1
Experience unmatched luxury at Elegant Evergreen Homes, offering exquisite 2, 3, and 4 BHK apartments in the serene locality of Yelahanka, Bangalore. These meticulously crafted homes blend modern design with timeless elegance, providing a harmonious living environment. Enjoy top-tier amenities and a prime location, making Elegant Evergreen Homes the ideal choice for discerning homeowners.
Elegant Evergreen Homes - Luxury Apartments Redefining Comfort in Yelahanka, ...
Commercial Core Law
1. Paul T. Saba, Esq.
William J. Patterson, Esq.
STAGNARO, SABA & PATTERSON, CO., L.P.A.
2623 Erie Avenue, Cincinnati, Ohio 45208
513.533.2700
pts@sspfirm.com || wjp@sspfirm.com
2. This presentation is offered for
informational use only. Nothing in this
presentation constitutes legal advice,
and an attorney-client relationship with
either the presenter or Stagnaro, Saba &
Patterson, Co. L.P.A. is not created with
any member of the audience based
solely upon this presentation.
Disclaimer
2
3. Topics
Recent Changes – HUD & Receiver
Agency Law
Contract Formation
License Law and Additional State Law –
Commercial Real Estate Considerations
Foreclosures and Lender-Owned Properties
Land Banks
3
13. Receiver Sales
Most significant changes in decades
House Bill No. 9
Resolves Uncertainty on Authorities
Amends ORC 2333.22, 2735.01, 2735.02
Modifies and expands ORC 2735.04
13
14. Every Person or entity with a lien as
reflected on the PJR must receive at
least 10 days advanced notice
Notice and opportunity to all interested
parties to object to the sale
Court may require the Receiver to solicit
and consider additional offers
Creates the Possibility of being a
Stalking Horse bidder
Receiver can sell the assets by auction
or sealed bids if approved by the Court
14
15. Eliminates the need for the Court to
confirm the sale if you follow the
procedures
The Receiver must file a report of sale
and serve it upon everyone identified in
the PJR.
15
18. Agency Duties – ORC 4725.62
Confidentiality
Full Disclosure
Following Instructions of Principal
Advancing Interests of Principal
Due Diligence
Fiduciary Responsibilities
18
20. Agency Law
Waiver of Fiduciary Duties
ORC 4735.621 – Ohio House Bill 150
○ Minimum Services Bill – October 9, 2006
○ Licensees Owe Client Full Fiduciary Duties
Outlined in Ohio Revised Code
20
21. Duties That Can Be Waived
Accept Delivery of Offers/Counteroffers
Present Offers/Counteroffers
Answer Questions re: Offers/ Counteroffers
Assist Client in Developing and Presenting
Offers/Counteroffers
Answer Questions re: Steps Client Must Take
to Fulfill Terms of Any Contract
21
22. Duties That Cannot Be Waived
Exercise Reasonable Skill and Care
Perform Terms of Written Agency Agreement
Follow Client’s Lawful Instructions
Loyalty to Client’s Interests
Comply with Laws, Statutes, Rules, Regulations
Disclose Material Facts
Advise Client to Obtain Expert Advice
Account in a Timely Manner for Money/Property
Maintain Confidentiality
Exceptions to Confidentiality – ORC 4375.74(b)
22
23. Dual Agency – ORC 4735.70
How Dual Agencies Arise
Hazards of Dual Agencies
Duties of Broker and Management Level
Licensee – ORC 4735.72
23
24. Forms: Company or Office
Policies Contents of Policy and Furnish to Client
ORC 4735.54 and 4735.55
Agency Disclosure Statement – ORC 4735.57
Timing at Auction Sales – ORC 4735.58
Timing of Disclosure to Purchaser – ORC 4735.60
24
25. Litigation, Arbitration &
Mediation Breach of Lease and Related Claims/Damages
Breach of Contract and Related
Claims/Damages
Commission Claims
Procuring Cause v. Agency Representation
25
28. General Contract Law
Principles Offer
Mirror Image Required; Master of the Offer
Open-ended Offer Periods; Rule of Perpetuities
Can Be Rescinded Before Acceptance
Setting Time Periods For Acceptance
Statute of Frauds
Statute of Conveyances
28
30. General Contract Law
Principles Consideration
Promise in exchange for promise
Earnest money not consideration
Meeting of the Minds
Mistake
Mutual / Unilateral
Void / Voidable
30
31. General Contract Law
Principles Types of Contracts
Purchase
Land Installment
Lease
Option to Purchase
Management
Mortgage
Security Agreements
Lease Purchase Agreement
31
34. “Key” Provisions
Property Description
Acreage “To Be Determined”
○ Definition of “Net Acreage” Critical
○ Exclusions
○ Right to “Opt Out” If Calculation Not As Anticipated
Easements and other agreements
Terms of Reciprocal Easement Agreement
Utility Facilities
Common Use Agreements
34
35. “Key” Provisions
Signage
Use of Premises
Subordination (Non-Disturbance)
Insurance/Subrogation/Indemnification
Assignment/Subletting
Security Deposit
35
36. “Key” Provisions
Construction and tenant build-out
What
Changes
Who Pays
When to Be Completed
What Happens If Completion Late
36
38. “Key” Provisions
Right of First Refusal v. Right Of First Offer
Contingencies
○ Closed-ended Date
○ As “Tight” As Possible
○ Who Benefits
○ Clear Terms of Exercise
○ Performance of Contingency in Good Faith
○ Reflect the Transaction and Protect Client
○ Types
38
40. “Key” Provisions
Parties
Buyer/Tenant – Correct Name, Entity, State
○ Ohio Secretary of State
Principals and Structure of Principal
○ Evidence of Structure
○ Evidence of Authority
○ Signature Lines and Acknowledgments
Guarantors
○ All Principals and Spouses
○ Corporate
40
41. Parties
Credit Worthiness
Profit and Loss Statement
Balance Sheet
Audited v. Unaudited
Authority
Corporate
Mortgagee Consent
Bankruptcy / Receivership Issues
Estoppel Certificates
Title Impairments
41
42. Guaranty of Lease
Review of Financials
Shell LLC
Parent Corporation
42
43. Due Diligence
Survey, Environmental and Third-party Reports
Financing
Regulatory and Governmental Approvals
Tax Incentives
Title Issues, Easements/Private Land Use Restrictions
Inspections/Site Issues
Utilities and Necessary Capacity
Road Access & Frontage/Perpetual Vehicle Access
Economic/Business Review and Feasibility
43
44. Closing / Title / Escrow
Examination, Title Commitment, Title Insurance
Documents Affecting / Creating Interest in Title
ORC 5301 and 5302
○ Deeds, Mortgages, Liens, Releases, Leases, Easements,
Land Installment Contracts, Powers of Attorney
○ UCC filings, Security Agreements, Bills of Sale,
○ Corporate Resolutions and Organizational Documents
Trusts / Wills
Escrow v. Round Table Closing
Tenants-in-Common and Co-Tenancy Agreements
44
46. License Law and Additional State
Law
Commercial Real Estate
Considerations
Out-of-State Broker Law – ORC 4735.022
Procedure
Proper Documentation
46
49. Auctions
Bids/Contracts
Terms and Conditions
Conditional v. Unconditional
AS/WHERE IS
Deposit
Payment Structure
Assumption of Leases, Contracts,
Obligations, etc.
49
50. Lender-Owned Properties
Contract
Assignment/Assumption of Leases and Estoppel
Certificates
Execution and Delivery
Deposit
Deadlines, Timeframes, “Time is of the Essence”
Contingencies
Representations and Warranties
Authorized Parties and Signatures
50
51. Representation Agreement
“You agree not to execute a lease or other
acquisition agreement until the landlord,
sublessor, assignor, owner, seller, or similar party
has agreed in writing to pay us a commission on
terms reasonably acceptable to us.”
51
52. Request for Proposal/Offer
Must clearly detail broker’s compensation
Percentage or amount
When payment due
Stipulate that broker is not responsible for, and
broker’s compensation is not dependent on,
tenant’s creditworthiness, ability to perform, etc.
Broker makes no representations as to tenant’s
creditworthiness
52
53. Commission Agreement
Signed before lease
No representations as to tenant’s
creditworthiness
Broker not responsible for tenant’s performance
Commission not subject to tenant default
Payable on execution
53
54. Commission Agreement
Lease must state that landlord is responsible for payment of
commissions to broker in accordance with terms of the lease
Tenant’s right to offset in event landlord doesn’t pay commission
“If Landlord fails to pay Broker any commission amounts due to
Broker in connection with this Lease or any expansion, extension,
or renewal thereof, or any purchase of the property or a portion or
interest therein, and such failure shall continue for a period of five
days after written notice is tendered by Broker, then such payment
shall bear interest at the Interest Rate defined in the Lease, and
Tenant may elect to pay broker its commission and deduct and
setoff such amount together with accrued interest thereon, against
all base rent and additional rent due under this lease.”
54
55. Eminent Domain
Amendment V and Introduction
No person shall be held to answer for a capital, or otherwise
infamous crime, unless on a presentment or indictment of a
Grand Jury, except in cases arising in the land or naval
forces, or in the Militia, when in actual service in time of
War or public danger; nor shall any person be subject for
the same offence to be twice put in jeopardy of life or limb;
nor shall be compelled in any criminal case to be a witness
against himself, nor be deprived of life, liberty, or property,
without due process of law; nor shall private property be
taken for public use, without just compensation.
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56. Eminent Domain
Power of the State over Private Property
Police Powers of Government
Health, Safety, Welfare
Public Use and Purpose
Basic rule – taking only for public use
Narrow view – use by public
Broad view – public advantage
Kelo Case
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57. Eminent Domain
Just Compensation and Fair Market Value
ORC § 163.09
Property Interests That May Be Compensated
Easement/Ownership Interest
Partial Taking – Springboro Case
Other Damages (Consequential)
Inverse Condemnation
Governmental Activity Invading Land/Airspace
○ Physical or Indirect
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58. Regulation of Land Development
(Regulatory Takings)
Property Rights and Police Power
State v. Federal – San Remo Hotel Case
Compensation/Damages for Unconstitutional
Land Use Regulation
Lucas v. South Carolina
Post-Lucas Cases and Decisions
Other Remedies Not Presumptively Invalid
○ 42 U.S.C. § 1983
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59. Regulation of Land Development
(Regulatory Takings)
Off-Site Improvements
Reasonable Requirements
Typing Off-Site Improvements to Governmental
Approvals for Development of Rational Nexus Test
Dedication of Land by Developers
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60. Regulation of Land Development
(Regulatory Takings)
Conditions for Approval by Governmental
Authority May Be Considered a Taking
Nollan v. California Coastal Commission
Dolan v. City of Tigard
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62. Background
House Bill 294 (September 2006)
Administrative tax foreclosures on distressed properties before BOR
Senate Bill 353 – “Land Bank Bill” (January 2009)
Can foreclose tax liens on abandoned land before BOR, upon its initiative
or by complaint of treasurer, tax certificate holder or county land bank
Upon decree of foreclosure, BOR may order property transferred – without
payment – directly to land bank with free and clear title
House Bill 313 (May 2010)
Expanded Land Banking to Counties over 60,000
Authorized formation of County Land Reutilization Corporations/Land Banks
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63. Why?
Vacant/Abandoned Buildings Magnet For Criminal
Activity
Remain off tax rolls and lower value of surrounding
properties, further eroding real property tax base
Signal that neighborhood is in decline
Undermine a neighborhood’s sense of community and
discourage further investment
Disinvestment often spreads across neighborhoods and worsens
the overall health of a city
Source: http://www.clevelandfed.org/research/policydis/pdp25.pdf
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64. Why?
Protection from state law liability (ORC
5722.22)
Underground storage tank laws
Air pollution control laws
Solid & hazardous waste & substances laws
Ohio EPA laws & regulations
Voluntary action plans, emergency planning,
cessation of regulated operations
Water pollution & water conservancy laws
Common-law causes of action:
○ McLaurin v. City of Cleveland, 1994 WL 50657
(Negligence)
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65. Land Banking Models
Cuyahoga/Franklin
Land Bank funds foreclosure
Land Bank takes title
○ Holds Property, or Rehabs
Buyer can take title with commitment to rehab
Montgomery
Pre-sold
Buyer covers costs of foreclosure
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66. Currently, 15 Counties in Ohio
have Land Banks
Butler County
Cuyahoga
County
Erie County
Franklin County
Hamilton County
Lake County
Lorain County
Lucas County
Mahoning County
Montgomery
County
Muskingum County
Portage County
Stark County
Summit County
Trumbull County
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67. Which Properties Qualify?
Delinquent: taxes delinquent for more than 12 months
Abandoned: unoccupied and appearing on auditor’s
delinquent tax list
Vacant: unimproved and appearing on auditor’s
delinquent tax list
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68. Expedited Foreclosure
Process End-user identifies desired property
Treasurer’s office confirms eligibility
Title commitment
Prosecutor files foreclosure on behalf of Treasurer,
Land Bank, or Certificate Holder
Hearing set 50-60 days from filing
Property transferred to Land Bank with free & clear title
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69. Law Protects Owners &
Lienholders ORC 323.69(B)(2) and 323.70(B) require board to dismiss
complaint upon request by owner within 20 days of service
At that point, tax lien foreclosure must proceed judicially
Owner's statutory right of redemption remains intact and
may be exercised even after property is sold, but before
confirmation of sale or transfer, by paying overdue taxes
Lienholder may prevent direct transfer without auction by
timely filing a motion and proving that the impositions do not
exceed the fair market value of the land
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