It is a common play in real estate to create a separate operating entity to serve as a tenant and execute a lease between the owner of the property and himself. Typically, this happens in assets which serve as a real estate-based business, such as a retail property. The structured enables the operator to reduce the taxable income of the business and also provide a liability shield for the property owner. However, this arrangement can easily lead to some ethical issues, should the property owner become distressed. Where is the line between a savvy real estate strategy and unethical behavior? This webinar presents practice pointers on how to use the ABA Model Rules as a guide to navigating ethical issues in Insider Lease Agreements. Model Rules addressed include those that govern the client-lawyer relationship (Rule 1.7: Conflict of Interest: Current Clients); those that speak to the need for candor toward the tribunal and fairness to an opposing party and counsel (Rule 3.3 through 3.4); and the necessity for truthfulness in statements to others and issues surrounding unrepresented persons (i.e. Rule 4.3).
Part of the webinar series: ETHICAL ISSUES IN REAL ESTATE-BASED BANKRUPTCIES 2022
See more at https://www.financialpoise.com/webinars/
Check out these study notes which I found online and which I think will be very useful to you. I have made hard copies which I will give to you at the next lecture.
Contracts are a part of our everyday life, arising in collaboration, trust, promise and credit.
How are contracts formed? What makes a contract enforceable? What happens when one party breaks a promise?
For this milestone, you will review Case Study Two and compose a.docxtamikowadson
For this milestone, you will review Case Study Two and compose a short report, applying your legal knowledge and understanding of the types of business organizations. Case Study Two concentrates on contracts and landlord-tenant law.
For additional details, please refer to the Milestone Two Guidelines and Rubric document and the Milestone Two Template in the Assignment Guidelines and Rubrics section of the course
PART 10
Property
LEARNING OBJECTIVES
After reading this chapter, you will be able to answer the following questions:
1
What are the interests in real property that someone can hold?
2
How is real property voluntarily transferred?
3
How is real property involuntarily transferred?
4
How is the use of property restricted?
CASE OPENER
Economic Redevelopment in Poletown
General Motors wanted to expand its facility, but when the company offered to purchase the property it needed, the owners would not accept the offers. The firm then approached the Detroit Economic Development Corporation with a request that the corporation use its power of eminent domain to acquire a large parcel of land on which members of the plaintiff organization, Poletown Neighborhood Council, resided and had small businesses. Once the corporation had acquired the land, it would be conveyed to General Motors for its plant expansion. The justification for the use of eminent domain was the creation of jobs for the economically depressed area.
The plaintiffs, who did not want their community destroyed, sued the city and the development corporation on the grounds that they were abusing their power of eminent domain to take private property for a private use.
1.
Can business managers ask the city to buy real property for them when the owners do not wish to sell it?
2.
What would determine whether the government can legally take the property for the corporation?
The Wrap-Up at the end of the chapter will answer these questions.
p. 1079
Ownership of real property seems to be one of the goals of most people in the United States. In this chapter we examine the nature of real property, the types of interests someone can own in real property, and how those interests can be transferred. As the opening scenario implies, transfers can be either voluntary or involuntary.
PART 10
Property
LEARNING OBJECTIVES
After reading this chapter, you will be able to answer the following questions:
1
How is the landlord-tenant relationship created?
2
What are the rights and duties of the landlord and tenant?
3
What are landlords' liabilities for injuries on the premises?
4
How are interests in leased property transferred?
5
How are leases terminated?
CASE OPENER
Free to Choose?
Roommates.com
operates a Web site that helps individuals find roommates. Individuals searching for roommates create profiles using questionnaires provided by the Web site. The questionnaires ask for information about age, sex, and sexual orientation, as well as whether the perso ...
Meeting the changing demands of legal educationKate Galloway
Overview of the Smart Casual project, building professional development modules for sessional law teachers - as presented at the Chinese University of Hong Kong legal education conference, June 2016.
The Smart Casual project includes resources on how to teach law students to 'think like a lawyer'. This presentation canvasses some of the challenges in teaching these complex skills, and some solutions.
Distributive Justice and Gender in Intimate Relationships: A Relational ApproachKate Galloway
In 'performing property' the common law courts enact a market based, transactional understanding of property distribution. This approach is ill-suited to ascertaining distribution within a marriage (or marriage-like) relationship. This paper suggests ways of contesting such claims to property, applying a relational approach to intention as to property distribution.
Tenure in North Queensland: The Autonomy MythKate Galloway
For Aboriginal and Torres Strait Islander communities in North Queensland, the discourse around tenure promises economic growth and opportunity for autonomy. However these claims occur within neoliberal discourse that privileges the individualism of private property as the sole determinant of value. Claims of autonomy in ‘secure and tradeable’ tenure ignore the real mechanisms by which land has been marketised. An idealised or ideological understanding of land and development ignores diverse values of land with two implications. Tenure changes are unlikely to yield the desired economic outcomes; and they will likely perpetuate the historical colonialism of the north.
Presentation for the 2015 TASA Conference, JCU, Cairns
It is a common play in real estate to create a separate operating entity to serve as a tenant and execute a lease between the owner of the property and himself. Typically, this happens in assets which serve as a real estate-based business, such as a retail property. The structured enables the operator to reduce the taxable income of the business and also provide a liability shield for the property owner. However, this arrangement can easily lead to some ethical issues, should the property owner become distressed. Where is the line between a savvy real estate strategy and unethical behavior? This webinar presents practice pointers on how to use the ABA Model Rules as a guide to navigating ethical issues in Insider Lease Agreements. Model Rules addressed include those that govern the client-lawyer relationship (Rule 1.7: Conflict of Interest: Current Clients); those that speak to the need for candor toward the tribunal and fairness to an opposing party and counsel (Rule 3.3 through 3.4); and the necessity for truthfulness in statements to others and issues surrounding unrepresented persons (i.e. Rule 4.3).
Part of the webinar series: ETHICAL ISSUES IN REAL ESTATE-BASED BANKRUPTCIES 2022
See more at https://www.financialpoise.com/webinars/
Check out these study notes which I found online and which I think will be very useful to you. I have made hard copies which I will give to you at the next lecture.
Contracts are a part of our everyday life, arising in collaboration, trust, promise and credit.
How are contracts formed? What makes a contract enforceable? What happens when one party breaks a promise?
For this milestone, you will review Case Study Two and compose a.docxtamikowadson
For this milestone, you will review Case Study Two and compose a short report, applying your legal knowledge and understanding of the types of business organizations. Case Study Two concentrates on contracts and landlord-tenant law.
For additional details, please refer to the Milestone Two Guidelines and Rubric document and the Milestone Two Template in the Assignment Guidelines and Rubrics section of the course
PART 10
Property
LEARNING OBJECTIVES
After reading this chapter, you will be able to answer the following questions:
1
What are the interests in real property that someone can hold?
2
How is real property voluntarily transferred?
3
How is real property involuntarily transferred?
4
How is the use of property restricted?
CASE OPENER
Economic Redevelopment in Poletown
General Motors wanted to expand its facility, but when the company offered to purchase the property it needed, the owners would not accept the offers. The firm then approached the Detroit Economic Development Corporation with a request that the corporation use its power of eminent domain to acquire a large parcel of land on which members of the plaintiff organization, Poletown Neighborhood Council, resided and had small businesses. Once the corporation had acquired the land, it would be conveyed to General Motors for its plant expansion. The justification for the use of eminent domain was the creation of jobs for the economically depressed area.
The plaintiffs, who did not want their community destroyed, sued the city and the development corporation on the grounds that they were abusing their power of eminent domain to take private property for a private use.
1.
Can business managers ask the city to buy real property for them when the owners do not wish to sell it?
2.
What would determine whether the government can legally take the property for the corporation?
The Wrap-Up at the end of the chapter will answer these questions.
p. 1079
Ownership of real property seems to be one of the goals of most people in the United States. In this chapter we examine the nature of real property, the types of interests someone can own in real property, and how those interests can be transferred. As the opening scenario implies, transfers can be either voluntary or involuntary.
PART 10
Property
LEARNING OBJECTIVES
After reading this chapter, you will be able to answer the following questions:
1
How is the landlord-tenant relationship created?
2
What are the rights and duties of the landlord and tenant?
3
What are landlords' liabilities for injuries on the premises?
4
How are interests in leased property transferred?
5
How are leases terminated?
CASE OPENER
Free to Choose?
Roommates.com
operates a Web site that helps individuals find roommates. Individuals searching for roommates create profiles using questionnaires provided by the Web site. The questionnaires ask for information about age, sex, and sexual orientation, as well as whether the perso ...
Similar to Protecting Interests in, Claims to, Land (Caveats) (16)
Meeting the changing demands of legal educationKate Galloway
Overview of the Smart Casual project, building professional development modules for sessional law teachers - as presented at the Chinese University of Hong Kong legal education conference, June 2016.
The Smart Casual project includes resources on how to teach law students to 'think like a lawyer'. This presentation canvasses some of the challenges in teaching these complex skills, and some solutions.
Distributive Justice and Gender in Intimate Relationships: A Relational ApproachKate Galloway
In 'performing property' the common law courts enact a market based, transactional understanding of property distribution. This approach is ill-suited to ascertaining distribution within a marriage (or marriage-like) relationship. This paper suggests ways of contesting such claims to property, applying a relational approach to intention as to property distribution.
Tenure in North Queensland: The Autonomy MythKate Galloway
For Aboriginal and Torres Strait Islander communities in North Queensland, the discourse around tenure promises economic growth and opportunity for autonomy. However these claims occur within neoliberal discourse that privileges the individualism of private property as the sole determinant of value. Claims of autonomy in ‘secure and tradeable’ tenure ignore the real mechanisms by which land has been marketised. An idealised or ideological understanding of land and development ignores diverse values of land with two implications. Tenure changes are unlikely to yield the desired economic outcomes; and they will likely perpetuate the historical colonialism of the north.
Presentation for the 2015 TASA Conference, JCU, Cairns
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2. The implications of Torrens
Issue Common law Land Title Act
Process to create legal
interest
Determining priority
Volunteers
Issue of notice
Need for bona fides?
Role of equity
3. The Torrens system only deals with
legal interests in land.
☐ True
☐ False
8. A caveat does not enlarge your interest
in land.
Image: http://pixdaus.com/big-yellow-duck-by-greg-naeseth-duck/items/view/309884/
9.
10. Form of caveat, cont’d
What are these
‘other grounds’?
Read the LTA
11. Who can lodge a caveat?: LTA
A person claiming an interest in a
lot
What does interest mean? Where might
you find this meaning?
definitions section part
Acts
Interp Act
12. Who can lodge a caveat?
• Bill signs a contract to sell his land to Ben. Ben finds out
Bill has also signed a contract to sell to Helen. Does Ben
have a caveatable interest?
• Peter borrows money from the bank, and deposits his
title deeds as security. Does the bank have a
caveatable interest?
• Joanne has signed a contract to buy a farm. The
contract is subject to finance. Does Joanne have a
caveatable interest?
• Margaret has defaulted on her mortgage, and the bank
has exercised its power of sale. The bank has signed a
contract to sell to a related entity. Does Margaret have
a caveatable interest?
13. Who can lodge a caveat?
• Jonathan has signed a contract to buy land
that is subject to council approval for
subdivision. Council has not yet given its
approval. The owner is threatening to sell
the land to a third party. Does Jonathan
have a caveatable interest?
• Pauline is a beneficiary under a trust that
owns land. The trustee is planning to sell the
land. Does Pauline have a caveatable
interest?
14. Case Interest Caveat?
Ben v Bill Equitable interest in an estate
in fee simple as purchaser
under a contract
Is it unconditional?
Chang v Registrar of
Titles
Bank v Peter Equitable interest by way of
deposit of title deeds
Re Dixon’s Caveat
Joanne Equitable interest as purchaser
under contract
Conditional: Re
Dimbury, Re CM
Group Caveat say no
distinguish? – is it
specifically
enforceable.
Cf Re Henderson’s
Caveat
Margaret Mere equity to have the sale
set aside (Latec)
Re Pile = no
Cf Re McKean’s
Caveat = likely yes
15. Case Interest Caveat
Jonathan Equitable interest as
purchaser under conditional
contract for sale
Re CM Group Caveat
– no
But see Re Henderson
Pauline Interest as beneficiary under
a trust has a mere right to be
considered in distribution –
not an interest in land
No
(Though see Kennon v
Spry for a new take on
this…)
16. Caveats’ life span
• Find the provisions
(LTA)
• What is their scope
• Identify the different
time-frames that
apply
• Draw a diagram
representing these
time-frames
19. Does the LTA promote alternative
dispute resolution to resolve competing
interests in land?
Review the caveat provisions in the LTA –
what are the triggers for the time-
frames?
24. Writs of Execution: work through
the LTA
What is it?
How is it
issued?
What is its
effect?
What are
the time
limits?
25. Black v Garnock
Black got
judgment a/g
respondent
Judgment
debtor agt sale
to respondent
Pcher: clear
check search
½ hour later:
Black warned of
writ of execution
1 ½ hour later:
Black lodged
writ of execution
What is the
effect of the writ
of execution?
26. Overview
Scope of Torrens
Torrens encompasses equity too!
Nature of Caveats
Caveats stop registration; warn the
world
Scope of Caveats
Caveats apply to interests in land
Nature of Settlement notices
Same or different from caveat?
Nature of writ of execution
What are they & how do they work?