Federally mandated HECM Counseling is a valuable tool in helping prospective reverse mortgage clients understand the complex nature of reverse mortgage loans and to assure that particular loan they are considering is the best possible solution for their specific financial, health and living situation
Credit For Renting. The impact of positive rent reporting on subsidized housi...Experian
Experian® RentBureau® analyzes data from a subset of the larger Experian RentBureau database comprising rental payment history on more than 12 million residents nationwide. The analysis examines the impact to credit scores of paid-as-agreed rent reporting for subsidized housing residents.
We extend the Ståhl-Rubinstein alternating-offer bargaining procedure to allow players, prior to each bargaining round, to simultaneously and visibly commit to some share of the pie. If commitment costs are small but increasing in the committed share, then the unique outcome consistent with common belief in future rationality (Perea, 2010), or more restrictively subgame perfect Nash equilibrium, exhibits a second mover advantage. In particular, as the smallest share of the pie approaches zero, the horizon approaches infinity, and commitment costs approach zero, the unique bargaining outcome corresponds to the reversed Rubinstein outcome (d =(1 + d); 1=(1 + d)), where d is the common discount factor.
This presentation expalins the nuances of acquiring distressed debt secured by real estate or mezzanine debt secured by the ownership interests in an entity owning real property, including the process of foreclosure, intercreditor issues, and other key points.
Bailed Out Bail Bonds is a bail bonds company in Phoenix, Arizona. Our team is available 24 hours a day, 7 days a week. We have some of the best options available to our clients when it comes to the bail bonds process. Our professional staff is well trained & can assist you in getting your loved one released from custody with a minimum amount of paperwork & time. One call is all it takes to be connected with a licensed & bonded agent that will walk you through the entire Bonds Process. We are up front on all issues & provide detailed receipts & documents.
Usa report ppt, US census data, demographics, presentation,study area report,...dbpdata
Demographics Report for the neighborhood of your choice from US census data. US census data, demographics, presentation,study area report, demographics commercial real estate
Federally mandated HECM Counseling is a valuable tool in helping prospective reverse mortgage clients understand the complex nature of reverse mortgage loans and to assure that particular loan they are considering is the best possible solution for their specific financial, health and living situation
Credit For Renting. The impact of positive rent reporting on subsidized housi...Experian
Experian® RentBureau® analyzes data from a subset of the larger Experian RentBureau database comprising rental payment history on more than 12 million residents nationwide. The analysis examines the impact to credit scores of paid-as-agreed rent reporting for subsidized housing residents.
We extend the Ståhl-Rubinstein alternating-offer bargaining procedure to allow players, prior to each bargaining round, to simultaneously and visibly commit to some share of the pie. If commitment costs are small but increasing in the committed share, then the unique outcome consistent with common belief in future rationality (Perea, 2010), or more restrictively subgame perfect Nash equilibrium, exhibits a second mover advantage. In particular, as the smallest share of the pie approaches zero, the horizon approaches infinity, and commitment costs approach zero, the unique bargaining outcome corresponds to the reversed Rubinstein outcome (d =(1 + d); 1=(1 + d)), where d is the common discount factor.
This presentation expalins the nuances of acquiring distressed debt secured by real estate or mezzanine debt secured by the ownership interests in an entity owning real property, including the process of foreclosure, intercreditor issues, and other key points.
Bailed Out Bail Bonds is a bail bonds company in Phoenix, Arizona. Our team is available 24 hours a day, 7 days a week. We have some of the best options available to our clients when it comes to the bail bonds process. Our professional staff is well trained & can assist you in getting your loved one released from custody with a minimum amount of paperwork & time. One call is all it takes to be connected with a licensed & bonded agent that will walk you through the entire Bonds Process. We are up front on all issues & provide detailed receipts & documents.
Usa report ppt, US census data, demographics, presentation,study area report,...dbpdata
Demographics Report for the neighborhood of your choice from US census data. US census data, demographics, presentation,study area report, demographics commercial real estate
Using the Analytic Hierarchy Process (AHP) to Select and Prioritize Project...Ricardo Viana Vargas
The objective of this paper is to present, discuss and apply the principles and techniques of the Analytic Hierarchy Process (AHP) in the prioritization and selection of projects in a portfolio. AHP is one of the main mathematical models currently available to support the decision theory.
Lease Accounting Methodology: A Theoretical Reflectioniosrjce
The purpose of this paper is to examine lease accounting methods and x-ray how they influence a
choice of lease arrangements. Requirements of International Accounting Standards (IAS) 17 were considered
including theoretical framework on the various dimensions of leasing. From archival data, preference is given
to operating leases as an off-statement of financial position financing. It also possesses few bottlenecks than
finance leases in terms of compliance with accounting requirements. Consequently, it is essential to take
cognisance of the complexities inherent in the respective lease options before deciding on which one to
undertake. Moreover, the need to be computer literate as a result of growing trends in information and
communication technology (ICT) is vital because most leasing arrangements presently, are perfected using
sophisticated software
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/
Commercial Leases, Their Provisions and Pitfalls to Avoid (Series: Real Estat...Financial Poise
Like any other contract, the provisions of a commercial lease are negotiable. Yet, like so many contracts, commercial leases can be confusing to anyone who does not negotiate them for a living. This webinar explains many of the common provisions in a typical commercial lease (e.g. competition clauses, destruction/condemnation provisions, enforcement provisions, escalation clauses, purchase and renewal options, subletting and assignment provisions, use provision- just to name some examples) and discusses what is “market” with respect to them.
To listen to this webinar on-demand, go to: https://www.financialpoise.com/financial-poise-webinars/commercial-leases-their-provisions-and-pitfalls-to-avoid-2020/
The 20 Most Overlooked, Costly, and Irreparable Elements of Investment Proper...RentFax
20 Due Diligence Items Missed by Investors Because They Don't Look Past the Property!
• Learn which offsite issues are even more important than anything your own eyes or a property inspector can tell you.
• Why items #7, #9, and #18 are particularly critical if you are investing in an unfamiliar area far from where you live.
• How item #11 can prevent you from ever getting a tenant!
• Four reasons (#3, #6, #19 & #20) to drive the neighborhood.
Are you an investor, lender or property manager
screening at least three deals per week?
Register at https://rentfaxpro.com/register to run a FREE REPORT and
learn how to put your due diligence on auto-pilot!
Insider Lease Agreements (Series: Fairness Issues in Real Estate-Based Bankru...Financial Poise
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.
This arrangement can lead to some ethical issues, should the property owner become distressed. For example, is the lease amount above market and therefore being used to inflate the property valuation? Is rent actually being paid? Is there a proper lease in place or just an internal handshake? Attorneys need to understand the set-up in order to know what is in bounds and what is outside the lines.
To view the accompanying webinar, go to:https://www.financialpoise.com/financial-poise-webinars/insider-lease-agreements-2021/
You don't buy investment properties for your health. The whole idea is to turn a healthy profit month-over-month and set yourself up for retirement. VerticalRent's Small American Landlord Series is proud to announce it's recent edition, 8 Factors Affecting Rent Prices. This comprehensive guide gives you insider perspective of how to maximize the rent you collect for your investment property.
How Commercial Real Estate Giants Can Put Tenants' Hard Earned Dollars At RiskGail Fischer
Fischer provides a hard-hitting analysis of the biases and conflicts of interest that prevail in today's new commercial real estate environment. The "Big 4" global commercial real estate firms increasingly represent both landlords and tenants. But they make most of their money from the owners, investors, developers and landlords. Tenants come last and as a result risk getting a bad deal. "It's a gamble for a company to put its corporate real estate portfolio in the hands of giant firms that serve multiple players and have much to gain by supporting the best deal for landlords rather than helping tenants minimize costs," Fischer said.
REAL ESTATE LAW DUMBED DOWN 2022 - Representing the Commercial LandlordFinancial Poise
The process of representing a commercial landlord in a lease transaction is multi-faceted. While generation of cash flow is the ultimate goal, there are other very important goals. These include minimizing risk, preserving the asset, enhancing the property and about a multitude of other issues.
This webinar provides powerful ammunition for both landlord reps and tenant reps to have in their arsenal. It focuses on the major concerns of real estate professionals in advising a landlord. When should the landlord insist on the language in the lease, and when should the landlord consider a concession or compromise? What is the role of the local real estate market in this analysis and why is it so important? After participating in this webinar, one will have a solid grasp of what commercial landlords need and why.
Part of the webinar series:
REAL ESTATE LAW DUMBED DOWN 2022
See more at https://www.financialpoise.com/webinars/
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 ...
REAL ESTATE LAW DUMBED DOWN 2022 - Representing the Commercial TenantFinancial Poise
A commercial tenant views a lease negotiation quite differently than does the landlord. As most leases tend to be drafted by the landlord, a tenant must begin an uphill battle to gain as many concessions as possible. This is an arduous task made easier by a full understanding of what are the most important issues for a tenant in a commercial lease transaction.
How does the financial profile of the tenant enter into the picture? Where can a tenant get hurt the most by hidden costs or unforeseen expenses? Why is “leverage” the most important concept to consider in this process? This webinar will help one understand how the tenant, generally the underdog in lease transactions, can turn the tables and become the most powerful player in the leasing game.
Part of the webinar series: REAL ESTATE LAW DUMBED DOWN 2022
See more at https://www.financialpoise.com/webinars/
The Case for Standard Forms of Construction ContractTom Joseph Mukasa
A public lecture presentation on 8 July 2016 by Tom Joseph Mukasa, (sponsored by the Institution of Surveyors of Uganda) at Kyambogo University, Kampala - Uganda.
Collateral value is the foundation of all lending transactions, but even the most traditional valuation techniques require a blend of art science and require debtors and practitioners to incorporate their judgment. Where is the line between reasonable judgment and gaming the system to arrive at a valuation that skews the fact pattern to one party’s favor? This webinar presents practice pointers on how to use the ABA Model Rules as a guide to navigating ethical issues in real estate valuation. Model Rules addressed may include those that govern the client-lawyer relationship (Rule 1.1 through 1.3); 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 4.1 through 4.3).
Part of the webinar series: Ethical Issues in Real Estate-Based Bankruptcies 2022
See more at https://www.financialpoise.com/webinars/
SSRN Paper: Expected Returns and the Expected Growth in Rents of Commercial R...Bob Lowery
Investigations of whether the cap rate, that is, the rent-price ratio in commercial
real estate incorporates information about future expected real estate returns
and future growth in rents.
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
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/
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.
Recent Trends Fueling The Surge in Farmhouse Demand in IndiaFarmland Bazaar
Embarking on the journey to acquire a farmhouse for sale is just the beginning; the real investment lies in crafting an environment that contributes to our mental and physical well-being while satisfying the soul. At Farmlandbazaar.com, India’s leading online marketplace dedicated to farm land, farmhouses, and agricultural lands, we understand the importance of transforming a humble farmland into a warm and inviting sanctuary. Let's explore the fundamental aspects that can elevate your farmhouse into a tranquil haven.
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.
Need MCA leads? No sweat! MCAs are great for small biz funding. Learn how to snag top-notch leads: businesses needing cash, with repayment ability, decision-makers, and accurate contacts. Use content, social ads, lead platforms, partnerships, and capture processes for quality leads.
https://www.leadgeneration.media/blog/b/streamline-your-mca-sales-process-with-pre-qualified-leads
Rams Garden Bahcelievler - Istanbul - ListingTurkeyListing Turkey
Implemented by Rams Global in Bahcelievler, the Rams Garden Bahcelievler Apartments includes 796 residences of different types from 2+1 to 5+1.
Next to the project, which will have 33 thousand square meters of green area, there will be 42 thousand 300 square meters of woodland. There will also be a 210-meter-long pond in the landscape of the project. There are 94.5 square meters of green space per flat.
Rams Garden Bahcelievler Apartments, which has 8 times more green space than the average of Istanbul with its 33 thousand square meters of green area located within a total of 75 thousand square meters, offers various housing options from 2+1 to 5+1.RAMS Garden has brought a lifeline to the construction industry.
Rams Global, which has signed projects in many places from Dubai to Phuket and delivered more than 20 thousand residences, is now starting new projects in Istanbul.
Rams Garden Bahcelievler is located 9 minutes from Metroport AVM, 5 minutes from Marmara Forum AVM, 12 minutes from Kazlıçeşme beach, 9 minutes from Yıldız Technical University, 7 minutes from Istinye University, 9 minutes from Ramada Hotel and Medicana Hospital.
https://listingturkey.com/property/rams-garden-bahcelievler-apartments/
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/
Lixin Azarmehr, a Los Angeles-based real estate development trailblazer, co-founded JL Real Estate Development (JL RED) in 2015 and serves as its CEO. Her expertise has propelled the firm to specialize in luxury residential and mixed-use commercial projects, with a portfolio that features upscale retail spaces and sophisticated care facilities.
Discover Yeni Eyup Evleri 2, nestled among the rising values of Eyupsultan, offering the epitome of modern living in Istanbul.
With its spacious living areas, contemporary architecture, and meticulous details, Yeni Eyup Evleri 2 is poised to be the star of your happiest moments. Situated in the new favorite district of Eyupsultan, claim your spot and unlock the doors to a peaceful life alongside your loved ones. Nestled next to the historical and natural beauties of Eyupsultan, embrace the comfort of modern living and rediscover life.
Social Amenities:
Yeni Eyup 2 offers a life filled with joy with its green landscaping areas, gym, sauna, children’s play areas, café, outdoor pool, and basketball court. Reserve your place for unforgettable moments!
Reliable Structure:
With 1+1, 2+1, and 3+1 apartment options, Yeni Eyup Evleri 2 is designed with first-class materials and craftsmanship. The doors to a safe and comfortable life are here! Choose the option that suits you best and step into your dream home.
Project:
Yeni Eyup 2 is conveniently located, with Istanbul Airport just 26 minutes away, the Mecidiyeköy Metro Line 4 minutes away, and the Tram Stop 5 minutes away, making your life easier with its central location.
Location:
Your home is positioned in a privileged location, providing easy access to the city center, shopping malls, restaurants, schools, and other important places.
Yeni Eyup 2 offers 1+1, 2+1, and 3+1 apartment options designed to meet different needs. Find an option suitable for every lifestyle and open the doors to a comfortable life in your dream home.
https://listingturkey.com/property/yeni-eyup-evleri-2/
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.
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
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
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
Sense Levent Kagithane Catalog - Listing TurkeyListing Turkey
Sense Levent offers a luxurious living experience in the heart of Istanbul’s vibrant Levent district.
This cutting-edge development seamlessly integrates modern design with natural elements, featuring live evergreen plants maintained by an advanced irrigation system, ensuring lush greenery year-round.
The building’s elegant ceramic balconies are both stylish and durable, enhancing the overall aesthetic and functionality. Residents can enjoy the 700m Sky Lounge, which provides breathtaking views of Istanbul and a perfect space to relax and unwind.
Sense Levent promotes a healthy and active lifestyle with a full gym, swimming pool, sauna, and steam room, all available in the building. The interiors are crafted with high-quality materials, ensuring a luxurious and inviting living space.
Designed with young professionals in mind, Sense Levent features 1+1 and 2+1 units with smart floor plans and balconies. The project promises high investment returns, with an expected annual return of 6.5-7%, significantly above Istanbul’s average ROI.
Located in the rapidly growing and highly desirable Levent area, the development benefits from ongoing urban regeneration projects. Its prime location offers proximity to shopping malls, municipal buildings, universities, and public transportation, adding immense value to your investment.
Early investors can take advantage of discounted units during the construction phase, with an expected capital appreciation of +45% USD upon completion. Property Turkey provides comprehensive rental management services, ensuring a seamless and profitable investment experience.
Additionally, robust legal support and significant tax advantages are available through Property Turkey’s licensed Real Estate Investment Fund. Levent is a dynamic urban hub, ideal for young professionals with its numerous corporate headquarters and shopping malls.
Sense Levent is more than just a residence; it’s a place where dreams and opportunities come to life. Contact us today to secure your place in this exclusive development and experience the best of Istanbul living. Sense Levent: Sense the Opportunity. Live the Dream.
https://listingturkey.com/property/sense-levent/
1. Title: LITIGATION DECISIONS IN COMMERCIAL REAL ESTATE LEASING.
AUTHOR: MICHAEL NWOGUGU, Certified Public Accountant (Maryland, USA). Certified
Management Accountant (IMA). Address: P. O. Box 996, Newark, NJ 07101. Email:
mcn1111@gmail.com.
Abstract:
This article introduces dispute resolution and litigation models for commercial real estate leasing.
The concepts and models developed in the article can also be applied to equipment leasing and other types
of leasing.
Keywords:
Decision analysis, litigation strategy; complexity; commercial real estate leasing; equipment leasing; Risk
Management.
Introduction
Real estate leases are complex long-term incomplete contracts that require simultaneous,
continuous and phased performance, and different types of monetary and non-monetary performance by
typically unrelated parties. The lessee’s propensity to comply with lease terms at specific times is greatly
influenced by economic conditions, lessee’s resources, and the various costs that may be incurred by the
lessee and lessor upon breach of the lease agreement.
Existing Literature
The existing literature on leasing includes the following: Albert & McIntosh (1989); Bartell
(1998); Bernfeld (Fall 2002); Coloma (2001); Garmaise & Moskowitz (2003); Ge, Yang, Proudlove & Spring
(2004); Ghyoost (2004); Kangoh (1995); McNally, Klein & Abrams (2001); Miceli, Sirmans & Turnbull (2001);
Mooradian & Yang (2002); Pretorius, Walker & Chau. (2003); Sebenius (1992). Benjamin, Jud & Winkler,
2000). (McNally, Klein & Abrams, 2001); Pretorius, Walker & Chau (2003); Triantis & LoPucki (1994);
Michael (2000); Heyes, Rickman & Tzavara (2004); Katz (1990); Triantis (1993).
The existing literature on leasing in the real estate industry is extensive, but the materials don’t
analyze some of the following issues:
1
2. 1. The optimal conditions for a lease.
2. The optimal lease, and the optimal Rent.
3. The effect of ‘incompleteness’ of leases on economics of such leases.
4. The choice between leasing and borrowing.
5. The choice among a sale-leaseback or no-action, or borrowing.
6. The analysis of commercial property leases as part of the supply chain for retailers and
medium/large companies. Location is crucial for retailers. Real estate rents often accounts for
more than 30% of the operating expenses of retailers; and more than 15% of operating expenses of
other types of companies.
7. The analysis of commercial leasing as a dynamical system.
8. Analysis of commercial property leases as Take-Or-Pay contracts.
The literature on litigation choices and dispute resolution is extensive and includes the following:
Cooter & Rubinfeld (1989); Png (1983); Heyes, Rickman & Tzavara (2004); Cooter & Rubinfeld (1989);
Png (1983); Lambert (1983); Palfrey & Romer (1983); Zhang et al (1998); Beckner & Katz (1995); Holm (1995);
Dnes (1995); Babcock, Farber, Fobian & Shafir (1995); Elwy, Nasr, Hamza, et al (1996); Braun & Kahan (1996);
Pooles, Simon, Nicholas et al (1997); Garcia, Ducheyne, Boettiger & Jost (1997); Klement (2003); Hatzis (2002);
Hylton (2002a); Parisi (2002); Polinsky & Rubinfeld (2002); Crew & Twight (1990); Rubin, Curran & Curran
(2001); Benson (1993); Fon & Parisi (2003); Fon, Parisi & Depoorter (2005); Boari & Fiorentini (2001); Hylton
(2006a); Hylton (2006b); Hylton (2007); Hylton (2002b); Hylton (2003); Arruñada & Andonova (2004); Ramey &
Watson (2002); Shavell (1995); Priest & Klein (1984); Drahozal (2004); Rhee (2006); Drahozal (2005); Hylton
(2000); Hylton (2005); Shavell (1982); Lumineau & Oxley (Sept. 2007); Scott & Triantis (2006); Sanchirico
(2006).
2
3. However, there is very little research on dispute resolution in real estate leasing. The following are the
existing gaps and omissions in the existing literature on dispute resolution as it pertains to leasing and real estate
leasing:
1) Leases are incomplete contracts. Most of the studies and theories of litigation focus on defined
situations and complete contracts.
2) Unlike most of the contracts and situations analyzed in existing studies, Leasing disputes often
involve significant sunk costs; leasing disputes often involve various types of executory, present and
future ownership interests.
3) The advent of various forms of credit enhancement has created more uncertainty but greater
flexibility with regard to the tax and accounting criteria for litigation and dispute-resolution choices.
4) Most property leases include choice-of-forum and choice-of-law clauses which affects
transaction costs, compliance costs, propensity-to-litigate and willingness-to-comply.
5) Unlike many situations, litigation decisions in commercial real estate leasing are constrained by
concerns about reputation and social capital.
6) Unlike many disputes, property Lessors’ and Lessee’s Insurance policies often don’t cover
litigation costs that arise from leasing.
7) Real estate leasing and real estate don’t follow any know probability distributions – hence, its
error to use probabilities in analysis of litigation decisions in leasing.
8) Most real estate leasing disputes don’t involve punitive damages or tort claims. Most of the
existing literature on litigation decisions are applicable in situations that involve punitive damages, and
torts.
9) Most real estate leasing disputes involved capped damages, and or damages that can be easily
calculated from lease data, tenant improvement data and leasing commissions data.
3
4. 10) Unlike many litigation situations, the effect of a single real estate leasing dispute: 1) on the
local market is minimal, 2) on the specific property – greatly depends on the type of property, the nature of
the lease interest (eg. leasehold vs. estate-for-years, etc.), and the size of the leased space,
11) In real estate leasing, the opportiunity costs of litigation are less than in most other litigation
situations.
12) In most commercial real estate disputes, the lessor and lessee are both corporate entities that
are typically well capitalized, and can afford litigation. Hence, the sensitivity of the prospective litigant’s
wealth to Propensity-To-Litigate is low; and the sensitivity of the prospective litigant’s Propensity-To-
Settle to its wealth, can vary widely.
13) Unlike most litigation situations, leasing involves ‘place-value” (value of a particular location
to the lessee) and emotional-value (to lessee). These two behavioral tendencies tend to affect lessees’ and
lessors’ Propensity-To-Litigate and Propensity-To-Settle.
14) Most of the studies focus on selection of disputes for litigation based on ‘ex-post’ conduct;
whereas in many instances, the choice of litigation alternatives is affected by ‘ex-ante’ conduct such as
arbitration and forum-selection clauses.
15) The “asymmetric information” model is inaccurate because a) in many instances, asymmetric
information does not always translate into higher/lower win rates – other factors such as legal precedent,
advocacy ability, evidentiary rulings, social capital, etc. affect win rates, the propensity to litigate and the
propensity to settle the disputes. In commercial real estate leasing disputes, the ‘assymetric information’
model is
Structure Of Leases
The leasing process is essentially a four-stage dynamical system because: 1) the various
components and relationships in the lease-system vary over time, 2) there is a clear network of
4
5. relationships among distinct parties, which are defined by the lease contract, the Uniform Commercial Code, the
Bankruptcy Code, custom and state laws, 3) factors that affect one component of the –lease system tend to affect
other components of the system and the value of the relationships among the various components. See: Beer
(2000); Dellnitz & Junge (1999); Moore (1991); Friedman & Sandler (1996); Evans (1998); Agarwal, Bohner,
O’Regan & Peterson (2002); Iacus (2001); Van Gelder (1998); Tucker (1997); Treur (2005); Hojjati, Ardabli &
Hosseini (2006); Kaiser & Tumma (2004); Schultz (1997); Chehab & Lamine (2005); Sebenius (1992); Xu (2005);
Vasant, Nagarajan & Yaacob (2005); Bisdorff (2000); Corbett, DeCroix & Ha (2005). The components of the
system include: a) lessor, b) lessee, c) broker, d) county clerk (where leases are recorded), e) banks and financial
institutions – that finance leases, f) credit enhancement vendors (eg. FGIC, FSA, etc.), g) the Lease Agreement, h)
any encumberances on the subject property, i) the subject property; i) laws and regulations. The various
stages of the lease-system are as follows:
a) Stage one – the decision to lease.
b) Stage two – finding a tenant and negotiating and signing the lease.
c) Stage Three – performance of the lease.
d) Stage Four – any default or non-performance of lease terms, up until lease expiration.
The typical lease provides the lessor with periodic (quarterly or semi-annual) property inspection
rights in order to monitor property conditions. Many existing commercial real estate leases are
‘incomplete contracts” because they: 1) are triple-net leases, 2) have overage clauses, 3) the performance
obligation is not capped/limited or clearly defined. Mooradian & Yang (2002). Gross leases are much more
complete than Net-leases because they contain more specific and definite terms, and less exposure or
uncertainties. Due to financial difficulties experienced by US retailers between 1995-2004, it was
expected and natural that many retailer-tenants would seek to reduce the fixed portions of rents, and to
increase the ‘overage’ or variable portions of rents. Bernfeld (Fall 2002). Brickley (1999); McCann &
Ward (2004); Tse (1999); Pretorius, Walker & Chau (2003); Pashigian & Gould (April 1998); Hansmann &
5
6. Kraakman (2000); Mejia & Benjamin (2002). The effect of such ‘incompleteness’ in lease contracts can
be substantial and depends on location, retailers’ brand name, tenant marketing efforts and transaction
costs (costs of re-leasing the space, litigation costs, lost sales revenues, etc.). From the lessee’s
perspective, the sources of incompleteness are:
1. Operating expenses – maintainance, insurance, premises liability not covered by insurance, etc.
2. Overage rents
3. Capital expenditures
4. Premises liability
5. Natural disasters
6. Landlord’s efforts in marketing the shopping mall.
7. Probability of adequate remedy for breach – suitability of pre-specified forum for resolution of disputes.
8. Lessee’s Employee’s effort levels at that location –
9. Lessee’s intensity of utilization of space.
10. Lessee’s Assignment or sub-letting rights, where Lessee must obtain lessor’s permission before any
assignment or sub-leasing.
11. Presence or absence of hazardous materials in the site – where lease is a NNN lease – and the extent of
lessee’s liability for environmental cleanups.
Litigation Models
Let:
α = other ‘monitoring costs’ incurred by the landlord for lease appraisals, reviews of filings, etc., in order
to ensure compliance with lease terms.
6
7. βT = post-default ‘cure costs’ incurred by the lessee. In some instances, minor defaults occur because the
lease terms are so many and onerous.
βL = ‘cure costs’ incurred by landlord if lessor does not seek other remedies and is willing to negotiate.
λT = post-dispute pre-litigation costs that the lessee incurs in connection with the lease.
λL = costs that the landlord incurs to comply with lease terms in other to avoid further litigation or to settle
a dispute – these costs are incurred before there is resolution activity (ie. arbitration, court litigation or
mediation) and include negotiation costs, attorney fees, transaction costs, etc..
ΨT = post-default ‘remedy costs’ that the lessee pays. These costs are incurred when there is some dispute
resolution activity (arbitration, court litigation, or mediation) and include litigation costs, accrued rent and
interest, engineering and consultants’ costs, payment of necessary fees/expenses such as insurance and
taxes, etc..
ΨL = ‘remedy costs’ which the landlord incurs typically to cure prolonged defaults of leases terms – these
costs are incurred when there is some dispute resolution activity (arbitration, court litigation, or
mediation) and include litigation costs, accrued rent and interest, engineering and consultants’ costs,
payment of necessary fees/expenses such as insurance and taxes, etc..
γL = “remedy” benefits that the landlord gets upon settlement or termination of the dispute – such benefits
include accrued rent, costs of assigning the lease or subletting the space to another tenant, reimbursement
of litigation expenses, and other accrued expenses such as utilities, maintainance and taxes.
7
8. πL = damages that the landlord gets if it wins in court or arbitration proceedings.
πT = damage awards that the lessee gets if lessee wins in court or arbitration proceedings.
κ = ‘performance costs’ incurred by the lessee in order to perform entire terms of the lease.
ξ = “supervisory/rationalization costs” - while most corporate/franchisee tenants typically treat each store
as an operating entity in terms of performance evaluation and capital allocation, the corporate tenant
typically incurs “supervisory/rationalization costs” to ensure compliance with all lease terms and to
determine where or not to close or relocate stores.
θ = The economic value that the landlord gains from lessee’s performance of all lease terms.
t = time horizon for evaluation. t H, where H is the lease term.
Specifically, the lessee will always comply with lease terms so long as Lessee knows that the following
conditions exist:
1. 0t (ΨT +κ+ λT ) t 0t (κ +ξ+ βT) t
2. βT/κ > λT/κ > ΨT/κ > 0
3. βT/t > λT/t > ΨT/t > 1
4. βT/ΨT > λT/t > ΨT/t > 1
8
9. The landlord will be willing to negotiate instead of litigating lease defaults iff the following
condition exists:
(5) [0t(θ- α - λL)t 0t(θ - ΨL -λL + γL – α)]t [0t(ΨT +κ+ λT)t 0t(κ+ξ + βT)t
(ΨT+κ+λT) Max[(κ + ξ + βT), 0] (6)
The landlord will be willing to negotiate instead of litigating lease defaults if:
[(θ- α - λL) Max[(θ-ΨL -λL+γL– α), 0] [(ΨT + κ + λT) Max{(κ+ξ+βT),0}] (7)
Note that in Equations (6) and (5), the decision to litigate or settle is distribution-free (completely
independent of either party’s estimates of probability of prevailing in court/arbitration proceedings and
expected damage awards). This approach is somewhat different from existing models of litigation and
dispute resolution, for several reasons. Each party’s decisions can be made based on existing information
because performance and terms are clearly defined. Most contract breaches are not tortuous and thus, do
not involve the award of large damages other than contractual damages. The adjudicator’s remedy can be
predicted with some measure of accuracy because lease terms are relatively straightforward. On the other
hand, judges and juries may not follow expected patterns of decisions, and damage awards vary depending
on the circumstances of each case.
In this instance, asymmetric information has several dimensions:
a) The lessee has more information about its prospects and its ability to perform lease terms – in
such information has minimal value primarily because of the validity of lease agreements, expectations of
contractual performance, and established remedies and possible existence of credit enhancement such as
letters of credit.
b) Either party may have more information about real estate market conditions and the possibility
of finding another tenant for the space at the same or higher rent – in this instance, such information also
9
10. has minimal or no value because of existence of established remedies for default, variations in rents in real
estate markets, and the typical difficulty in confirming potential tenants.
c) Either party may have different opinions and or more information about the outcome of any
prospective litigation.
Conclusion
Commercial Real Estate Leasing remains a major source of capital in various industries, such as
healthcare, retailing, telecommunications, manufacturing, agriculture, energy and financial services. Real
estate constitutes a substantial portion of fixed assets (land, buildings/fixtures and lease interests), capital
expenditures, loan assets and operating costs (maintainance, insurance, taxes, rents and depreciation) in
these industries. The selection of leasing disputes for litigation is somewhat different than most other
circumstances. The analysis of litigation choice must be independent of assumptions of probability
distributions.
Bibliography.
1. Albert J & McIntosh W (1989). Identifying Risk Adjusted Indifference Rents For Alternative
Operating Leases. Journal Of Real Estate Research, 4(3): 81-91.
2. Arruñada B & Andonova V (2004). Judges' Cognition and Market Order. Economics Working Papers #768,
Department of Economics and Business, Universitat Pompeu Fabra.
3. Babcock L, Farber H, Fobian C & Shafir E (1995). Forming Beliefs about Adjudicated Outcomes: Perceptions
of Risk and Reservation Values. International Review of Law and Economics, 15(3):289-303.
4. Bartell L. (1998). Revisiting Rejection: Secured party Interests In Leases And Executory Contracts.
Dickinson Law Review, 103: 497-507.
5. Beckner C F & Katz A (1995). The Incentive Effects of Litigation Fee Shifting When Legal Standards Are
Uncertain. International Review of Law & Economics, 15(2):205-224.
6. Benson B L (1993). The impetus for recognizing private property and adopting ethical behavior in a market
economy. The Review of Austrian Economics, _________________.
7. Bernfeld W. (Fall 2002). De Facto Subleases And Assignments – Caveat Emptor. The Real Estate
Finance Journal, pp. 77-81.
8. Boari N& Fiorentini G (2001). An economic analysis of plea bargaining: the incentives of the parties in a mixed
penal system. International Review of Law & Economics, _______________.
9. Braun J & Kahan M (1996). The Incentive Effects of Settlements under Joint and Several Liability.
10
11. International Review of Law and Economics, 16(4):389-395.
10. Coban O & Secme G (2005). Prediction Of Socio-Economic Consequences of Privatization At The
Firm Level With Fuzzy Cognitive Mapping. Information Sciences, 169:131-154.
11. Coloma G (2001). An Economic Analysis Of Horizontal Property. International Review Of Law & Economics,
21:343-354.
12. Cooter R & Rubinfeld D (1989). Economic Analysis of Legal Disputes and Their Resolution. Journal of
Economic Literature, _____________, 1068-1088.
13. Crew M & Twight C (1990). On the efficiency of law: A public choice perspective. Public Choice,
66(1):___________.
14. Dellnitz M & Junge O (1999). On The Approximation Of Complicated Dynamical Behavior. SIAM Journal
Of Numerical Analysis, 36(2):491-515.
15. Dnes A (1995). The Law and Economics of Contract Modifications: the Case of Williams v. Roffey.
International Review of Law and Economics, 15(2): 225-240.
16. Drahozal C (2005). A Behavioral Analysis Of Private Judging. Law & Contemporary Problems, 67:105-125.
17. Drahozal C (2004). Ex Ante Selection Of Disputes For Litigation. Available at SSRN:
http://ssrn.com/abstract=510162 or DOI: 10.2139/ssrn.510162.
18. Elwy A, Nasr G, Hamza S, et al (1996). Default Rules and Equilibrium Selection of Contract Terms.
International Review of Law and Economics, 16(2):233-245.
19. Fon V, Parisi F & Depoorter B (2005). Litigation, Judicial Path-Dependence, And Legal Change. European
Journal of Law and Economics, 20:43–56.
20. Fon V & Parisi F (2003). Litigation and the Evolution of Legal Remedies: A Dynamic Model. Public Choice,
116: 419–433.
21. Garcia A, Ducheyne P, Boettiger D & Jost P (1997). Regulatory Enforcement in the Presence of a Court
System. International Review of Law and Economics, 17(4): 491-508.
22. Garcia A, Berlanga A, Molina J & Davila J (2004). Optimization Of Airport Ground Operations Integrating
Genetic And Dynamic Flow Management Algorithms. AI Communications, 18(2): 143-164.
23. Garmaise M & Moskowitz T (2003). Confronting Information Assymetry: Evidence From Real Estate
Markets. Review Of Financial Studies, 17(2):405-437.
24. Ge Y, Yang J, Proudlove N & Spring M (2004). Systems Dynamics Modeling For Supply-Chain Management:
A Case Study On A Supermarket Chain In The UK. International Transactions In Operational Research, 11(5):
495-510.
25. Ghyoost V G (2004). The Lease Versus Buy Decision In Real Estate: Theory And Practice. Paper presented at
the Tenth European Real Estate Society Conference, Helsinki, June 10-13, 2003.
26. Hatzis A N (2002). Having the cake and eating it too: efficient penalty clauses in Common and Civil contract
Law. International Review of Law and Economics, 22(4):381-406.
27. Heyes A, Rickman N & Tzavara D (2004). Legal Expenses Insurance, Risk Aversion And Litigation.
International Review Of Law & Economics, 24:107-119.
28. Holm J (1995). Computational Cost of Verifying Enforceable Contracts. International Review of Law &
Economics, 15(2):127-140.
29. Hylton K (2000). Agreements to Waive or to Arbitrate Legal Claims: An Economic Analysis. Supreme Court
Economic Review, 8:209-229.
30. Hylton K (2006b). When Should a Case be Dismissed? The Economics of Pleading and Summary Judgment
Standards. Boston Univ. School of Law Working Paper No. 06-06.
31. Hylton K (2006a). Information, Litigation, and Common Law Evolution. American Law and Economics
Review, 8(1):33-61.
32. Hylton K (2005). Arbitration: Governance Benefits And Enforcement Costs. Notre Dame Law Review,
80:489-499.
33. Hylton K (2007). Due Process and Punitive Damages: An Economic Approach. Boston Univ. School of Law
Working Paper #07-26.
34. Hylton K (2002b). Welfare Implications of Costly Litigation under Strict Liability. American Law and
Economics Review, 4(1):18-43.
11
12. 35. Hylton K (2002a). An Asymmetric-information Model Of Litigation. International Review of Law and
Economics, 22(2):153-175.
36. Hylton K (2003). The Economics of Litigation and Arbitration: An Application to Franchise Contracts.
Journal of Legal Studies, 32:549-584.
1. Hylton K (April 2006). When Should a Case Be Dismissed? The Economics of Pleading and Summary
Judgment Standards". Boston University Law Working Paper, #06-06.
1. Hylton K (2000). Agreements to Waive or to Arbitrate Legal Claims: An Economic Analysis. Supreme Court
Economic Review, 8: 209-219.
37. Iacus S (2001). Efficient Estimation Of Dynamical Systems. Nonlinear Dynamics And Econometrics,
4(4):213-226.
38. Kangoh L (1995). Optimal retail lease contracts: The principal-agent approach. Regional Science and Urban
Economics, 25(6):727-739.
39 Klement A (2003). Threats to sue and cost divisibility under asymmetric information. International Review of
Law and Economics, 23(3):261-272.
40. Lambert R (1983). Long-Term Contracts and Moral Hazard. Bell Journal Of Economics, 14(2):441-452.
41. Lumineau F & Oxley J (Sept. 2007). The Determinants of Dispute Resolution Mode In Inter-Firm Contracts.
42. McNally S., Klein C. & Abrams M. (2001). How To Structure A Lease To Protect Against The Risk Of A
Bankruptcy Of The Tenant. Real Estate Issues, ___________.
43. Miceli T, Sirmans C F & Turnbull G (2001). The Property-Contract Boundary: An Economic Analysis
Of Leases. American Law & Economics Review, 3(1):165-185.
44. Miceli T & Sirmans C (1995). Contracting With Spatial Externalities And Agency Problems: The
Case Of Retail Leases. Regional Science & Urban Economics, 25:355-372.
45. Mooradian R & Yang X (2002). Commercial Real Estate Leasing, Assymetric Information And
Monopolistic Competition. Real Estate Economics, 30(2): 293-315.
46. Palfrey T & Romer T (1983). Warranties, Performance, and the Resolution of Buyer-Seller Disputes. Bell
Journal Of Economics, 14(2):97-117.
47. Parisi F (2002). Rent-seeking through litigation: adversarial and inquisitorial systems compared. International
Review of Law and Economics, 22(2):193-216.
48. Png I (1983). Strategic Behavior In Suit Settlement And Trial. Bell Journal Of Economics, 14(2): 539-550.
49. Polinsky M & Rubinfeld D (2002). A note on settlements under the contingent fee method of compensating
lawyers. International Review of Law and Economics, 22(2): 217-225.
50. Pooles S, Simon M, Nicholas F et al (1997). The Optimal Level of Corporate Liability Given the Limited
Ability of Corporations to Penalize Their Employees. International Review of Law and Economics, 17(2):203-
213.
51. Pretorius F., Walker A. & Chau K. (2003). Exploitation, Expropriation And Capital Assets: The
Economics Of Commercial Real Estate Leases. Journal Of Real Estate Literature, 11(1): 3-36.
52. Priest G & Klein B (1984). The Selection Of Disputes For Litigation. Journal Of Legal Studies, 13(1):1-55.
53. Ramey G & Watson J (2002). Contractual Intermediaries. Journal of Law, Economics and Organization,
18(2):362-384.
54. Rhee R (2006). A Price Theory of Legal Bargaining: An Inquiry into the Selection of Settlement and
Litigation Under Uncertainty. Emory Law Journal, 56(3):619-692.
55. Rubin P, Curran C & Curran J (2001). Litigation Versus Legislation: Forum Shopping by Rent Seekers.
Public Choice, 107(3-4):__________.
56. Sanchirico C (2006). The Economic Analysis of Evidence, Procedure, And Litigation. University Of
Pennsylvannia, Inst for Law & Economics Research Paper #06-04. Available at SSRN:
http://ssrn.com/abstract=877979.
57. Scott R & Triantis G (2006). Anticipating Litigation in Contract Design. Yale Law Journal, 115:813-823.
58. Sebenius J (1992). Negotiation Analysis: A Characterization And Review. Management Science, 38(1): 18-38.
59. Shavell S (1995). Alternative Dispute Resolution: An Economic Analysis. Journal Of Legal Studies, 24(1):1-
28.
60. Shavell S (1982). The Social Versus the Private Incentive to Bring Suit in a Costly Legal System. Journal Of
Legal Studies, 11:333-339.
12
13. 61. Stein J. (Spring 2003). How Much Protection Does A Leasehold Mortgagee Need ?. The Real Estate Finance
Journal, pp. 5-12.
62. Triantis G. (1993). The Effects of Insolvency And Bankruptcy On Contract Performance And Adjustment.
University Of Toronto Law Journal, 43:679-689.
63. Young M & Graf R (1995). Real Estate Is Not Normal: A Fresh Look At Real Estate Return Distributions.
Journal OF Real Estate Finance & Economics, 10(3):225-259.
64. Xu Z (2005). A Procedure For Decision Making Based On Incomplete Fuzzy Preference Relation. Fuzzy
Optimization And Decision Making, 4(3): 209-215.
65. Zhang P et al (1998). Uncertain Litigation Cost and Seller Behavior: Evidence from An Auditing Game.
Federal Reserve Bank Of Atlanta, Working Paper #98-17.
1. Howick S (2005). Using system dynamics models with litigation audiences. European Journal of Operational
Research, 162(1): 239-250.
1. Clark K & Konrad K. (2007). Contests with Multi-tasking. Scandinavian Journal of Economics, 109(2):303–
319.
1. Baye M, Kovenock D & de Vries C (2005) Comparative Analysis of Litigation Systems: An Auction-Theoretic
Approach. The Economic Journal, 115(505):583–601.
1. Yeon-Koo C & Earnhart D (1997). Optimal Use of Information in Litigation: DoesWithholding Information
Deter Frivolous Suits?. Rand Journal of Economics, 28:120-134.
1. Gong J. & McAfee, R. P. (2000). Pretrial Negotiation, Litigation and Procedural Rules. Economic Inquiry, 38:
218-238.
1. Schweizer U (1989). Litigation and Settlement under Two-Sided Incomplete Information. Review of Economic
Studies, 56:163-178.
1. Spier K (1994), “Pretrial Bargaining and the Design of Fee-Shifting Rules. Rand Journal of Economics, 25:197-
214.
1. Waldfogel J. (1998). Reconciling Asymmetric Information and Divergent Expectations Theories of Litigation.
Journal of Law and Economics, 41:451-476.
13