This document summarizes a seminar on post-casualty protocols and processes. It discusses definitions of a casualty, examples of major hurricanes like Katrina and Sandy, issues around a landlord's liability for failing to protect buildings or damaging neighborhoods, drafting casualty lease clauses, rent abatement rights for tenants, and a landlord's ability to recover costs or avoid payment after a casualty. Case studies are presented on issues like rent obligations, indemnification, additional insured status, and constructive eviction in the event of damage to the leased premises.
Unti-Claims Handling Following Catastrophes 2013-10Don Grauel
J. Wylie Donald, Esq. of McCarter & English LLP presented “Climate Change- Uncovering Risk in a Warming World” at the October 2013 67th Annual F. Addison Fowler Seminar held by The Insurance Roundtable of Baltimore in Hunt Valley, MD
The document discusses the National Flood Insurance Program (NFIP) and new FEMA guidelines. It provides background on the NFIP, including that it was established in 1968 and requires flood mapping and makes flood insurance available to communities that meet requirements. It also summarizes Rhode Island's participation in the NFIP, new flood maps, insurance rates, reforms, and ways for homeowners to reduce costs, such as through the Community Rating System program.
During a state of emergency, does a county curfew apply within a city’s limits? Can a county enforce a mandatory evacuation? Is alcohol automatically banned during a state of emergency? Just what emergency authorities do counties have? A workshop at the 2012 NCACC Annual Conference explored local government emergency management authorities and responsibilities and offers practical suggestions on preparing for the next disaster. It could happen at any time!
Appraisals & Flood Insurance | a continued challenge for financial institutionsCarl Streck
Have you ever found your financial institution falling short on flood insurance coverage? With our latest webinar, you’ll hear from the experts on how to calculate and factor your appraisal figures into the flood insurance calculation process.
1) Condominium associations are required by Florida law to purchase property insurance to cover the building and common elements.
2) This insurance must cover replacement costs and losses must be determined by independent appraisal every 3 years.
3) The insurance also covers alterations, limited common elements, and losses are subject to deductibles within industry standards.
The document provides an overview of key concepts in insurance law, including:
1) Insurance allows an insured to transfer risk to an insurer in exchange for premium payments.
2) An insurance policy must satisfy contract requirements and be interpreted based on an average person's understanding.
3) Coverage disputes may involve determining whether a covered or excluded peril was the proximate cause of a loss.
3) Insurers have duties to defend claims potentially within the policy's scope and indemnify insured for covered losses up to policy limits.
This document summarizes a seminar on post-casualty protocols and processes. It discusses definitions of a casualty, examples of major hurricanes like Katrina and Sandy, issues around a landlord's liability for failing to protect buildings or damaging neighborhoods, drafting casualty lease clauses, rent abatement rights for tenants, and a landlord's ability to recover costs or avoid payment after a casualty. Case studies are presented on issues like rent obligations, indemnification, additional insured status, and constructive eviction in the event of damage to the leased premises.
Unti-Claims Handling Following Catastrophes 2013-10Don Grauel
J. Wylie Donald, Esq. of McCarter & English LLP presented “Climate Change- Uncovering Risk in a Warming World” at the October 2013 67th Annual F. Addison Fowler Seminar held by The Insurance Roundtable of Baltimore in Hunt Valley, MD
The document discusses the National Flood Insurance Program (NFIP) and new FEMA guidelines. It provides background on the NFIP, including that it was established in 1968 and requires flood mapping and makes flood insurance available to communities that meet requirements. It also summarizes Rhode Island's participation in the NFIP, new flood maps, insurance rates, reforms, and ways for homeowners to reduce costs, such as through the Community Rating System program.
During a state of emergency, does a county curfew apply within a city’s limits? Can a county enforce a mandatory evacuation? Is alcohol automatically banned during a state of emergency? Just what emergency authorities do counties have? A workshop at the 2012 NCACC Annual Conference explored local government emergency management authorities and responsibilities and offers practical suggestions on preparing for the next disaster. It could happen at any time!
Appraisals & Flood Insurance | a continued challenge for financial institutionsCarl Streck
Have you ever found your financial institution falling short on flood insurance coverage? With our latest webinar, you’ll hear from the experts on how to calculate and factor your appraisal figures into the flood insurance calculation process.
1) Condominium associations are required by Florida law to purchase property insurance to cover the building and common elements.
2) This insurance must cover replacement costs and losses must be determined by independent appraisal every 3 years.
3) The insurance also covers alterations, limited common elements, and losses are subject to deductibles within industry standards.
The document provides an overview of key concepts in insurance law, including:
1) Insurance allows an insured to transfer risk to an insurer in exchange for premium payments.
2) An insurance policy must satisfy contract requirements and be interpreted based on an average person's understanding.
3) Coverage disputes may involve determining whether a covered or excluded peril was the proximate cause of a loss.
3) Insurers have duties to defend claims potentially within the policy's scope and indemnify insured for covered losses up to policy limits.
Trillions of dollars of coastal properties and developments are threatened by climate change-driven sea level rise and intensifying storms according to a government study. Building codes do not currently account for future flood risks from climate change. Strategies to increase sustainability and resilience, like elevating structures, are being applied more widely to reduce flood risks. The National Flood Insurance Program covers flood damage but is strained by increasing costs of floods. Reforms are planned to shift to fully risk-based flood insurance pricing. Private flood insurance is also increasingly available and may be preferable in some cases.
Rockwell publishing real estate law chapter 16Kendrick Kim
The document discusses common interest developments and subdivision laws in California real estate. It defines common interest developments as subdivisions where homeowners share title to common aspects like parks or golf courses. The most common types are condominiums, where owners have title to their unit, and planned developments, where owners have title to their individual home but share ownership of common elements. It also outlines key subdivision laws in California, particularly the Subdivision Map Act, which requires developers to record detailed plans and conform to local land use goals.
Flooding - A Business RIsk Mitigated by Planning and InsuranceCBIZ, Inc.
A storm’s impact can disrupt an entire supply chain network – manufacturers, distributors, warehouses and retailers. Supply chain disruptions and even short power outages can paralyze a business. Flood waters can take down a manufacturing operation for days or weeks, damage roads and bridges essential for product delivery, and destroy warehoused inventory. This article discusses current flood risk management trends.
Rockwell publishing real estate law chapter 17Kendrick Kim
These printable materials allow students to study lessons away from their computer. They include graphic summaries that outline the key content in frames arranged for easy studying. They also include multiple choice quizzes to help focus review on important topics. The materials cover private and public restrictions on land use. Private restrictions, also called restrictive covenants, can limit land use and are created through deeds, declarations of restrictions, or contracts. They must meet certain conditions to run with the land and bind future owners. Public restrictions are imposed by governmental entities.
Congressman Crawford's office sent this FEMA notificaiton of Assistance to Individuals and households due to recent flooding and tornados. At present impact for Northeast Arkansas limited to Clay and Randolph Counties, more counties to be added.
This document outlines the seven principles of insurance: [1] utmost good faith, [2] insurable interest, [3] indemnity, [4] contribution, [5] subrogation, [6] loss minimization, and [7] proximate cause. It provides details on each principle, explaining that they aim to ensure trust between insured and insurer, compensate only for actual losses, prevent misuse of insurance policies, and place the insured in the same position prior to a loss. The principles are designed to protect both parties in insurance contracts.
The document summarizes LOGA's legislative agenda and other energy-related bills for the 2012 legislative session. Key points include amendments to the ACT 312 statute to clarify liability issues without requiring admission of fault; legislation around non-consent operations and risk charges; proposals to incentivize ultra-deep drilling; and renewal of ACT 955 regarding water use agreements. Other bills aimed to strengthen landowner rights and groundwater management.
This document provides an overview of key information about buying and owning a condominium in Alberta, Canada. It explains that a condominium involves owning a private unit and jointly owning common property with other unit owners. It describes what makes up a condominium unit and the common property. It also discusses unit factors, exclusive use common areas, responsibilities for doors and windows, and provides a brief overview of condominium corporation rules and regulations.
The document discusses key changes to landlord-tenant law in New York resulting from the passage of the Housing Stability and Tenant Protection Act of 2019 (HSTPA). It focuses on how the HSTPA has impacted nonpayment eviction proceedings by tenants. Specifically, it examines the traditional "good cause" standard tenants must meet to stay an eviction warrant under RPAPL §749(3), and explores how a new provision under RPAPL §753 allowing tenants to claim "extreme hardship" may provide an additional avenue of relief in such proceedings. The article aims to guide practitioners on navigating nonpayment evictions in light of the new law.
This document provides summaries of 9 frequently asked questions about flood insurance. It explains what flood insurance covers, why it's important to have, common causes of flooding, what types of floods are covered, what property and belongings are covered, exclusions to coverage, how claims are calculated, options for additional coverage, and factors that affect the cost of a flood insurance policy.
The document provides information about flood insurance policies in the United States. It discusses that the National Flood Insurance Program (NFIP) offers flood insurance and covers over 50 insurance companies. It describes the two types of coverage offered - building and contents. It also summarizes the different policy types for homeowners, business owners, and renters and what is covered under each. The document concludes by discussing how premiums are determined and the purchasing process.
Flood Insurance and Flood Zone Designations-The basics of Flood insurance, history of the NFIP, Options available in 2017 & 2018.
WWW.NationalFloodInsurance.Org
This document provides a summary of coverage for commercial property under the National Flood Insurance Program (NFIP). It outlines two types of flood insurance coverage for commercial policyholders - building property up to $500,000 and personal property up to $500,000. It also summarizes what is and is not covered by flood insurance, including coverage limitations for areas below the lowest elevated floor such as basements.
This document summarizes changes to US flood insurance resulting from laws passed in 2012 and 2014. It discusses how the Biggert-Waters Act of 2012 phased out subsidies, causing large premium increases, but how the Homeowners Flood Insurance Affordability Act of 2014 rolled back many of these increases for primary residences. It also provides details on a coastal flood mapping study being conducted in Southeast Florida that will impact flood insurance rates.
2019 Insurance Law Series: 2018 Insurance Coverage Case Law Year in ReviewQuarles & Brady
The document provides an overview of notable insurance case law from 2018, including a Supreme Court ruling that limited coverage for negligent supervision claims, a ruling on underinsured motorist notice requirements, and a ruling that classified a large forest fire as a single occurrence rather than multiple occurrences. It also summarizes several Court of Appeals rulings on issues including directors and officers coverage and theft loss coverage.
Dan Tetzlaff from Hub International Insurance share his expert opinion and speaks on the most common pitfalls when insuring your property and a robust program on how to avoid them.
NY Appeals Court Finds Ambiguity as to Losses Resulting from Backup or Overfl...NationalUnderwriter
In an issue of apparent first impression in New York, an appellate court has found that an ambiguity existed in an
insurance policy as to losses resulting from a backup and/or overflow from sewers, drains, and/or plumbing systems.
- Tort law governs negligence claims in construction. Negligence involves a wrongful act or omission that violates a duty of care and causes reasonably foreseeable harm.
- Key cases established that construction professionals like engineers owe a duty of care not just to their clients but also to foreseeably affected third parties. This allows claims for economic losses from negligent statements or defective work.
- The scope of recoverable economic losses in tort expanded but was later reined in by courts requiring physical damage from latent defects, not just costs to remedy work. Malaysian courts have allowed some recovery for economic losses in construction negligence cases.
The document provides information about the National Flood Insurance Program (NFIP) including its history, definitions of flooding, policy details, and requirements. It summarizes that the NFIP was established in 1968 and is administered by FEMA. It defines flooding as the inundation of two or more acres of dry land from overflowing waters, rapid accumulation, mudflows, or shoreline collapse. Flood insurance provides coverage for direct physical loss from flooding. Elevation certificates are required to determine flood risk and insurance rates. The document emphasizes that all property owners in flood zones should consider flood insurance.
Brush up on your Florida Construction Defect Law to better serve your clients. Presentation by Thomas Oglesby, Esq. from Resnick & Louis, P.C. Attorneys at Law
Trillions of dollars of coastal properties and developments are threatened by climate change-driven sea level rise and intensifying storms according to a government study. Building codes do not currently account for future flood risks from climate change. Strategies to increase sustainability and resilience, like elevating structures, are being applied more widely to reduce flood risks. The National Flood Insurance Program covers flood damage but is strained by increasing costs of floods. Reforms are planned to shift to fully risk-based flood insurance pricing. Private flood insurance is also increasingly available and may be preferable in some cases.
Rockwell publishing real estate law chapter 16Kendrick Kim
The document discusses common interest developments and subdivision laws in California real estate. It defines common interest developments as subdivisions where homeowners share title to common aspects like parks or golf courses. The most common types are condominiums, where owners have title to their unit, and planned developments, where owners have title to their individual home but share ownership of common elements. It also outlines key subdivision laws in California, particularly the Subdivision Map Act, which requires developers to record detailed plans and conform to local land use goals.
Flooding - A Business RIsk Mitigated by Planning and InsuranceCBIZ, Inc.
A storm’s impact can disrupt an entire supply chain network – manufacturers, distributors, warehouses and retailers. Supply chain disruptions and even short power outages can paralyze a business. Flood waters can take down a manufacturing operation for days or weeks, damage roads and bridges essential for product delivery, and destroy warehoused inventory. This article discusses current flood risk management trends.
Rockwell publishing real estate law chapter 17Kendrick Kim
These printable materials allow students to study lessons away from their computer. They include graphic summaries that outline the key content in frames arranged for easy studying. They also include multiple choice quizzes to help focus review on important topics. The materials cover private and public restrictions on land use. Private restrictions, also called restrictive covenants, can limit land use and are created through deeds, declarations of restrictions, or contracts. They must meet certain conditions to run with the land and bind future owners. Public restrictions are imposed by governmental entities.
Congressman Crawford's office sent this FEMA notificaiton of Assistance to Individuals and households due to recent flooding and tornados. At present impact for Northeast Arkansas limited to Clay and Randolph Counties, more counties to be added.
This document outlines the seven principles of insurance: [1] utmost good faith, [2] insurable interest, [3] indemnity, [4] contribution, [5] subrogation, [6] loss minimization, and [7] proximate cause. It provides details on each principle, explaining that they aim to ensure trust between insured and insurer, compensate only for actual losses, prevent misuse of insurance policies, and place the insured in the same position prior to a loss. The principles are designed to protect both parties in insurance contracts.
The document summarizes LOGA's legislative agenda and other energy-related bills for the 2012 legislative session. Key points include amendments to the ACT 312 statute to clarify liability issues without requiring admission of fault; legislation around non-consent operations and risk charges; proposals to incentivize ultra-deep drilling; and renewal of ACT 955 regarding water use agreements. Other bills aimed to strengthen landowner rights and groundwater management.
This document provides an overview of key information about buying and owning a condominium in Alberta, Canada. It explains that a condominium involves owning a private unit and jointly owning common property with other unit owners. It describes what makes up a condominium unit and the common property. It also discusses unit factors, exclusive use common areas, responsibilities for doors and windows, and provides a brief overview of condominium corporation rules and regulations.
The document discusses key changes to landlord-tenant law in New York resulting from the passage of the Housing Stability and Tenant Protection Act of 2019 (HSTPA). It focuses on how the HSTPA has impacted nonpayment eviction proceedings by tenants. Specifically, it examines the traditional "good cause" standard tenants must meet to stay an eviction warrant under RPAPL §749(3), and explores how a new provision under RPAPL §753 allowing tenants to claim "extreme hardship" may provide an additional avenue of relief in such proceedings. The article aims to guide practitioners on navigating nonpayment evictions in light of the new law.
This document provides summaries of 9 frequently asked questions about flood insurance. It explains what flood insurance covers, why it's important to have, common causes of flooding, what types of floods are covered, what property and belongings are covered, exclusions to coverage, how claims are calculated, options for additional coverage, and factors that affect the cost of a flood insurance policy.
The document provides information about flood insurance policies in the United States. It discusses that the National Flood Insurance Program (NFIP) offers flood insurance and covers over 50 insurance companies. It describes the two types of coverage offered - building and contents. It also summarizes the different policy types for homeowners, business owners, and renters and what is covered under each. The document concludes by discussing how premiums are determined and the purchasing process.
Flood Insurance and Flood Zone Designations-The basics of Flood insurance, history of the NFIP, Options available in 2017 & 2018.
WWW.NationalFloodInsurance.Org
This document provides a summary of coverage for commercial property under the National Flood Insurance Program (NFIP). It outlines two types of flood insurance coverage for commercial policyholders - building property up to $500,000 and personal property up to $500,000. It also summarizes what is and is not covered by flood insurance, including coverage limitations for areas below the lowest elevated floor such as basements.
This document summarizes changes to US flood insurance resulting from laws passed in 2012 and 2014. It discusses how the Biggert-Waters Act of 2012 phased out subsidies, causing large premium increases, but how the Homeowners Flood Insurance Affordability Act of 2014 rolled back many of these increases for primary residences. It also provides details on a coastal flood mapping study being conducted in Southeast Florida that will impact flood insurance rates.
2019 Insurance Law Series: 2018 Insurance Coverage Case Law Year in ReviewQuarles & Brady
The document provides an overview of notable insurance case law from 2018, including a Supreme Court ruling that limited coverage for negligent supervision claims, a ruling on underinsured motorist notice requirements, and a ruling that classified a large forest fire as a single occurrence rather than multiple occurrences. It also summarizes several Court of Appeals rulings on issues including directors and officers coverage and theft loss coverage.
Dan Tetzlaff from Hub International Insurance share his expert opinion and speaks on the most common pitfalls when insuring your property and a robust program on how to avoid them.
NY Appeals Court Finds Ambiguity as to Losses Resulting from Backup or Overfl...NationalUnderwriter
In an issue of apparent first impression in New York, an appellate court has found that an ambiguity existed in an
insurance policy as to losses resulting from a backup and/or overflow from sewers, drains, and/or plumbing systems.
- Tort law governs negligence claims in construction. Negligence involves a wrongful act or omission that violates a duty of care and causes reasonably foreseeable harm.
- Key cases established that construction professionals like engineers owe a duty of care not just to their clients but also to foreseeably affected third parties. This allows claims for economic losses from negligent statements or defective work.
- The scope of recoverable economic losses in tort expanded but was later reined in by courts requiring physical damage from latent defects, not just costs to remedy work. Malaysian courts have allowed some recovery for economic losses in construction negligence cases.
The document provides information about the National Flood Insurance Program (NFIP) including its history, definitions of flooding, policy details, and requirements. It summarizes that the NFIP was established in 1968 and is administered by FEMA. It defines flooding as the inundation of two or more acres of dry land from overflowing waters, rapid accumulation, mudflows, or shoreline collapse. Flood insurance provides coverage for direct physical loss from flooding. Elevation certificates are required to determine flood risk and insurance rates. The document emphasizes that all property owners in flood zones should consider flood insurance.
Brush up on your Florida Construction Defect Law to better serve your clients. Presentation by Thomas Oglesby, Esq. from Resnick & Louis, P.C. Attorneys at Law
Business interruption insurance may provide coverage for losses resulting from the coronavirus pandemic. Key areas of coverage include lost business income from government shutdown orders, supply chain interruptions, employee illness claims, and third party negligence claims. However, insurers are denying many claims, arguing that policies require direct physical loss or damage. While some court decisions have found that non-structural property damage can trigger coverage, insurers require proof that coronavirus was present and caused suspension of operations. Policy language and applicable exclusions will determine the outcome. Policyholders should carefully review their policies and provide prompt notice of any claims.
Floods are defined as the overflow of inland or tidal waters, accumulation or runoff of surface waters, or mudflows. Flood insurance can cover direct physical loss caused by floods to eligible residential and commercial properties located in participating communities. Coverage, rates, and eligibility requirements like those in Coastal Barrier Resource Areas are determined based on flood risk zones on Flood Insurance Rate Maps. Program changes aim to accurately assess risk and support the National Flood Insurance Program.
THE NUTS & BOLTS OF BANKRUPTCY LAW 2022: The Nuts & Bolts of a Lift Stay MotionFinancial Poise
Most businesses of any meaningful size in the United States have a line of credit or term loan with a bank or other lender that is secured by a lien on substantially all of the assets of that business. One of the strongest tools in a secured lender’s toolbox is the ability to ask the bankruptcy court to lift or modify the automatic stay to allow the secured lender to get to its collateral. Needless to say, the debtor will often oppose the lender’s request. This is just one of many aspects of litigation surrounding the automatic stay. The bankruptcy code provides for specific circumstances under which relief from the stay is permitted, and litigation over whether the requisite conditions exist is common. This webinar discusses the scope of the automatic stay and the procedure and grounds for seeking relief.
Part of the webinar series:
THE NUTS & BOLTS OF BANKRUPTCY LAW 2022
See more at https://www.financialpoise.com/webinars/
Empty Spaces – How to Protect Yourself From a Defaulting TenantPolsinelli PC
Property owners, landlords, and developers all face similar concerns when a tenant defaults. In short, you want to make sure that you can keep collecting rent and maximize rental revenues. More broadly, you want to know your options for re-renting the premises, whether you can collect rent from the defaulting tenant while the premises is vacant, what options you have to remove and sell any property left behind, and how a tenant bankruptcy affects the whole process. Our panel will discuss your rights and remedies when dealing with these situations with an emphasis on making sure you recover all to which you are entitled.
This document summarizes key issues in allocating losses and determining insurance coverage for complex construction projects. It discusses allocation of losses between insurers, insureds, and other parties. It also addresses different types of insurance policies like general liability, workers' compensation, and professional liability policies. The document provides an overview of controlled insurance programs and how they allocate risks and losses between enrolled parties and non-enrolled parties on large projects. It concludes by listing contact information for two attorneys who specialize in construction insurance issues.
This document summarizes key issues in allocating losses and determining insurance coverage for complex construction projects. It discusses allocation of losses between insurers, insureds, and other parties. It also addresses different types of insurance policies like general liability, workers' compensation, and professional liability policies. The document provides an overview of controlled insurance programs and how they allocate risks and losses between enrolled parties and non-enrolled parties on large projects. It concludes by listing contact information for two attorneys who specialize in construction insurance issues.
Similar to Surviving the Apocalypse: Tales from Lawyers on the Front Lines of Catastrophic Losses (20)
Understanding the Legal Weapons Landlords and Tenants have in Enforcing/Termi...Adam Leitman Bailey, P.C.
Adam Leitman Bailey discusses Understanding the Legal Weapons Landlords and Tenants have in Enforcing/Terminating Commercial Leases and the Secrets of How to Negotiate the Best Abatement/Deferment so both Landlord and Tenant are Happy for AmTrust on 7/15
This document summarizes several recent court cases related to landlord liability and tenant harassment. It discusses how the U.S. Court of Appeals for the Second Circuit in Francis v. Kings Park Manor expanded landlord liability under the Fair Housing Act to include failing to address a racially hostile environment created by one tenant targeting another. It also discusses how New York common law typically shields landlords from liability for injuries caused by one tenant to another, unless the landlord had control over the assailant. The document then provides more details on these cases and decisions.
The document summarizes accomplishments of Carolyn Rualo, a partner at Adam Leitman Bailey, P.C. who was named a Trailblazer by the New York Law Journal for her unconventional approaches in handling complex landlord-tenant negotiations. It describes how she successfully negotiated on behalf of a client to avoid costly emergency repairs by the city, and how she is preparing for upcoming rent regulation reforms. It also announces that ALBPC has more female "Rising Stars" than any other New York real estate law firm.
Adam Leitman Bailey and Andrew Jorges were invited to lecture on Common Ways Deals Die and How Brokers Can Bring Them Back to Life for Town Residential.
The document discusses key lease provisions that should be included in commercial leases. It identifies the top 8 lease enforcement provisions for landlords, such as provisions addressing chronic nonpayment of rent, rent acceleration, additional rent, and late charges. It also outlines the top 8 lease provisions for commercial tenants, including mitigation of damages clauses, prevailing party clauses, rights of expansion, and options to renew. The document provides guidance on important default clauses, liquidated damages, arbitration vs litigation, and other legal topics relevant to commercial leasing.
This document discusses different types of easements, including easements appurtenant, easements in gross, easements of necessity, prescriptive easements, and easements by reference to plats and maps. It explains the key elements required to establish each type of easement across various states east of the Mississippi River. The document also notes exceptions and limitations to establishing prescriptive easements in some states. Finally, it discusses rules around reserving easements to third parties through a single deed conveyance.
Lawyers Surviving The Apocalypse; Adam Leitman Bailey, Dov Treiman, and John ...Adam Leitman Bailey, P.C.
This document provides an overview of legal issues related to catastrophic events and commercial real estate. It discusses several key points:
1) Public building owners have a duty to take reasonable steps to prevent foreseeable terrorist attacks on their facilities as attractive targets.
2) Large-scale catastrophes do not necessarily give rise to class action lawsuits, as was the case with renters seeking rent rebates after Superstorm Sandy.
3) While residential leases imply a warranty of habitability, commercial leases follow the common law model of a temporary conveyance, though other grounds for rent abatement can exist depending on the specific lease terms.
Hurricanes account for a small percentage of total natural disaster events but result in over half of estimated insured property losses from 2005 to 2014. Proper preparation before a hurricane includes securing property and keeping copies of important records. Business interruption insurance can help cover losses from closure during and after a storm. After a hurricane, property owners must decide whether to rebuild or not based on damage and insurance coverage.
The latest news and insights from the team at Adam Leitman Bailey, P.C. - must-read case highlights, articles, and recent press mentions key to expanding your knowledge of real estate law. In this issue, learn about the First and Second Department split on proprietary cooperative leases, how homelessness is effected by rent stabilization, how ALBPC won over $1M for a boutique brokerage firm, and more...
The document discusses several court cases related to board authority to impose fines on residents of cooperatives and condominiums, as well as issues around secondhand smoke and family occupancy of cooperative apartments. It summarizes key rulings in cases such as Minkin v. Board of Cortlandt Ridge Homeowners Ass’n, Inc., Gabriel v. Board of Managers of Gallery House Condominium, Cohan v. Board of Directors of 700 Shore Road Waters Edge, Inc., Olszewski v. Cannon Point Ass’n, Inc., 230-79 Equity, Inc. v Frank, 445/86 Owners Corp v. Haydon, Wilson v. Valley Park Estates Owners Corp
The document discusses key lease enforcement provisions that should be included in commercial leases. It outlines the top 8 provisions landlords should add, such as provisions allowing for rent acceleration, additional rent charges, yellowstone injunctions, late fees, and attorney's fees. It also outlines the top 8 provisions tenants should seek to include, such as mitigation of damages clauses, prevailing party clauses, rights of expansion, options to renew, and limits on personal guarantees. The document provides legal advice on drafting effective lease agreements.
Overcoming Obstacles to Develop Real Estate: Easements, Covenants and Other I...Adam Leitman Bailey, P.C.
This document discusses easements and various ways that easements can be created, transferred, and terminated. It provides definitions of easements and explains that easements can be created through an express grant, implication from prior use or necessity, abandonment, merger of the dominant and servient estates, end of necessity, demolition of the burdened property, the recording act, condemnation, and release in writing. The document also discusses two New York cases related to proving abandonment of an easement and provides examples of how easements of necessity are created. Overall, the document serves as a guide to understanding easement rights and how they can be established and extinguished under New York state law.
If you're Planning to Build a House in Haldwani, Understanding the House Construction Cost in Haldwani is crucial. It's important to grasp the direct and indirect cost factors entailed in the Construction process before Initiating any work. This Understanding is pivotal for Efficient Budget allocation, allowing you to plan your finances more Effectively. Construction expenses can vary Significantly, Influenced by Diverse Elements such as site Location, raw material prices, Labour charges, and various other variables. Here at Geomatrix, we pride Ourselves on offering competitive rates for house construction in Haldwani, ensuring affordability without Compromising on quality and providing the best options within your budget. For a precise evaluation of the cost involved in constructing your dream home, consult our team of architects and construction experts.
For more information visit:
https://geomatrix.co.in/services/real-estate-project-management-in-haldwani/
BEST FARMLAND FOR SALE | FARM PLOTS NEAR BANGALORE | KANAKAPURA | CHICKKABALP...knox groups real estate
welcome to knox groups real estate company in Bangalore. best farm land for sale near Bangalore and madhugiri . Managed farmland near Kanakapura and Chickkabalapur get know more details about the projects .Knox groups is a leading real estate company dedicated to helping individuals and businesses navigate the dynamic real estate market. With our extensive knowledge, experience, and commitment to excellence, we deliver exceptional results for our clients. Discover the perfect foundation for your agricultural aspirations with KNOX Groups' prime farm lands. These aren't just plots; they're the fertile grounds where vibrant crops flourish, livestock thrives, and unique agricultural ventures come to life. At KNOX, we go beyond selling land we curate sustainable ecosystems, ensuring that your journey toward agricultural success is seamless and prosperous.
AVRUPA KONUTLARI ESENTEPE - ENGLISH - Listing TurkeyListing Turkey
Looking for a new home in Istanbul? Look no further than Avrupa Konutlari Esentepe! Our beautifully designed homes provide the perfect blend of luxury and comfort, making them the perfect choice for anyone looking for a high-quality home in the city.
With a wide range of apartment types available, from 1+1 to 4+1, we have something to suit every need and budget. Each apartment is designed with attention to detail and features spacious and bright living areas, making them the perfect place to relax and unwind after a long day.
One of the things that sets Avrupa Konutlari Esentepe apart from other developments is our focus on creating a community that is both comfortable and convenient. Our homes are surrounded by lush green spaces, perfect for enjoying a peaceful stroll or having a picnic with friends and family. Additionally, our complex includes a variety of social and recreational amenities, such as swimming pools, sports fields, and playgrounds, making it easy for residents to stay active and socialize with their neighbors.
https://listingturkey.com/property/avrupa-konutlari-esentepe/
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/
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.
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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.
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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.
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Surviving the Apocalypse: Tales from Lawyers on the Front Lines of Catastrophic Losses
1. American College of Real Estate Lawyers
Fall Annual Meeting
New Orleans, LA
October 19, 2018
SURVIVING THE
APOCALYPSE: TALES FROM
LAWYERS ON THE FRONT
LINES OF CATASTROPHIC
LOSSES
Adam Leitman Bailey, Adam Leitman Bailey, P.C.
Eric D. Rapkin, Akerman LLP
Lee Z. Sher, Sher Garner Cahill Richter Klein & Hilbert, L.L.C.
2. Building Owners Have a Duty to
Prevent Attacks/Disasters
• In In re World Trade Center Bombing Litigation, focusing on the
1993 attack, the Court decided that the World Trade Center being
a “highly symbolic target, was vulnerable to terrorist attack.”
• As such, the court, with a lot of other evidence of possible attacks,
decided that there is a duty to make reasonable efforts to prevent
the catastrophe in the first place.
3. • Generally, a landowner, who holds its land open to the public, is
under a legal duty to exercise reasonable care under the
circumstances to maintain the premises in a reasonably safe
condition. See Basso v. Miller, 40 NY2d 233 (1976).
Building Owners Have a Duty to
Prevent Attacks/Disasters
4. Duty to Build Safer Building Did
Not Apply to World Trade
Center on 9-11-2001
5. Duty to Build Safer Building Did
Not Apply to World Trade
Center on 9-11-2001
• Here the actual collapse was
occasioned by the Fire Department
having no water with which to subdue
the blaze that caused the building to
collapse, not any questions of building
design.
• Thus, there was no recovery against
the owner. Aegis Ins. Services v. 7
World Trade Co. 865 F.Supp2d370
(2011).
7. Improving Commercial Lease
Agreements to Be Ready for Next
Disaster
Examples:
• New Insurance Requirements
• Move In and Rent Payment Requirements
• Negotiation of Rebuilding or Termination of Leasehold
• Requiring Buildings Are Equipped to Handle Next Natural Disaster
8. The Commercial Lease’s
Casualty Clause
• Many states have a legislatively
produced casualty clause for
leases unless the parties agree
otherwise.
• New York: In a standard lease
and the common law, the
destruction of the premises
completely relieves the tenant
of the rent obligation.
9. • While New York maintains a statute, Real Property Law Section 227
allowing tenants to abandon the premises in the event of “becoming
destroyed or so injured by the elements or any other cause as to be
untenantable”, it also expressly allows for written waiver of the statute
and every standard leases waives this statute.
• Instead, the landlord and tenants gets to choose within a certain amount
of days or months whether it will decide to rebuild and remain as a
tenant.
The Commercial Lease’s
Casualty Clause
10. Despite the Equities and the Casualties
Involved, Louisiana and New York Lower
Courts Showed Mercy While the
Appellate Courts Strictly Interpreted the
Contracts and Leases
11. Superstorm Sandy
• In 4261 Realty Holding LLC v. DB Real
Estate Assets II, LLC, the tenant had failed
to follow the method of giving notice as
prescribed by the lease. The Court, ruling
in a Superstorm Sandy case, forgave the
tenant for the form of the notice, noting
that the landlord had actually received
the notice and that was enough to satisfy
the spirit of the lease.
• In Milltown Park v. American Felt & Filter
Co., an appellate court stated, “Even
accepting defendant's conclusory
allegation that the premises were
unusable, defendant's failure to give the
prompt written notice required by the
lease bars defendant from obtaining the
benefit of the related provision which
would relieve defendant from liability for
rent while the premises are unusable.”
12. Hurricane Katrina
• After nearly eight years of legal proceedings before various federal courts
(collectively, the “Katrina Cases”), the final ruling as to liability was
handed down in 2013: The United States Army Corps of Engineers was
responsible for both the levee failures and navigation channel flooding,
but it was immune from liability due to the applicability of several distinct
federal laws.
• In 2008, for example, the Louisiana Supreme Court reversed two lower
court decisions in ultimately upholding a flood exclusion in a commercial
“all-risks” insurance policy.
13. Hurricane Katrina
• Mr. Joseph Sher – had carried an “all-risks” insurance policy on the
apartment building he had owned and lived in since 1965. After the
building was inundated with more than four feet of floodwater in
the wake of Hurricane Katrina, Mr. Sher filed suit against the
insurer that had refused to cover the water-related damage to the
property with an all-risk policy, claiming losses that amounted to
$870,000. The lower courts found that the term “flood” was
ambiguous, and found that the policy did in fact cover damage
from floods.
• The Louisiana Supreme Court disagreed, finding that there could
only be one “reasonable interpretation” of the word “flood” – “the
overflow of a body of water causing a large amount of water to
cover an area that is usually dry.”
16. • Verizon contracted with a Dutch company, from a land renowned for its dealing
with flooding issues, to develop a temporary dam around its switching facilities
in case of notice of an impending storm.
• Truly remarkable are the specifications for the wall:
o Height was determined by 6-foot flooding that can be expected during a 100-year
storm, plus 2 feet for storm surge and 1 foot to account for the anticipated rise of
sea levels by 2050.
o The explanation is simple: “We follow the science and act accordingly,” said John M.
Vazquez, the senior vice president of Verizon for global real estate, human resources
and administration
Private Companies Must Make Their
Own Preparations for Catastrophes
17. States’ Progress with Preparations
to Withstand Next Casualties
New York has been aggressively implementing and promoting preventative
measures.
Examples:
a) Enables and encourages flood resistant building construction throughout
designated floodplains,
b) Seeks the modification of zoning and regulatory barriers that have
hindered or prevented the reconstruction of storm-damaged properties,
and
c) Promotes the enabling of new and existing buildings to comply with new,
higher flood elevations issued by FEMA, and to comply with new
requirements in the New York City Building Code.
18. States’ Progress with Preparations
to Withstand Next Casualties
New York has been aggressively implementing and promoting preventative
measures.
Examples:
d) Focuses on elevation requirements in the Building Code, the
repositioning of stairs and ramps, implementing more flexibility for the
accommodation of off-street parking above grade,
e) Implementing more flexibility in locating mechanical systems above flood
levels, and adopting alternative flood-focused design elements to
maintain vibrant streetscapes, and facilitating the retrofitting of existing
buildings.
21. Cities are putting together flood insurance rate maps (FIRMS) showing the flood
dangers in order to determine the requirements for flood insurance as well as flood
maps that will incorporate the growing risk of climate change and sea level rise.
States’ Progress with Preparations
to Withstand Next Casualties
23. • The Special Policy Insurance Form aka Causes of Loss - Special
Form — why must you buy it and what does it cover?
• Is buying an All Risk policy a must-buy and why?
What Policy to Buy?
24. • Understanding it is best to select a Replacement Cost Policy, do
these policies pay 100 percent of the cost to rebuild?
What Amount is Insured?
25. • Coinsurance penalties are the insurance companies’ way of being
sure that owners insure the entire cost of rebuilding – not just the
costs they think they will incur.
• Property owners do not want to be hit with a coinsurance penalty.
Policies written with an Agreed Value Endorsement in which the
insurer and the owner stipulate a Replacement Cost or Actual Cash
Value for the property and suspend the coinsurance clause.
Understanding the Danger of
Coinsurance Penalties
26. • Lost Business income is calculated as:
I. The Net Income (net profit or loss before taxes) that would have been
earned or incurred but for the insured peril; and
II. The continuing normal operating expenses, including payroll.
• However, Lost Business Income is payable only if the loss is incurred by
reason of physical damage to property at the insured premised described
in the Declarations.
• Then only if the loss is caused by a “Covered Cause of Loss” as described
in the Basic, Broad, or Special Causes of Loss form selected by the insured
(or by additional causes of loss added by endorsement).
Business Interruption Insurance
27. • A standard property damage policy excludes damage caused by
flood, surface, water, waves, tides, tidal water, overflow of a body
of water, and spray from any of these (whether or not driven by
wind).
• The National Flood Insurance Program (NFIP), established by
Congress, provided coverage for those areas not covered in the
standard policy which cause the litigation in the affected states.
Flood Insurance
28. • It is possible for a property owner or business operator to obtain coverage
for loss of business caused by loss of utility equipment outside the insured
property – but only by a special endorsement for utility interruption. This
endorsement will provide coverage only if the off-site utility equipment is
damaged by a Covered Cause of Loss and then, only after a specified
waiting period. Further, transmission or distribution lines are generally
excluded.
Damage Caused by Loss of Utility
Service
In 4261 Realty Holding LLC v. DB Real Estate Assets II, LLC, the lower court specifically relied upon the chaos that ensues in one of these storm situations and used its discretion to lighten the specific requirements of the lease, especially since the landlord could not possibly make a showing of prejudice.
In Milltown Park v. American Felt & Filter Co., an appellate court required the notice precisely as defined by the lease in spite of tenant’s claim that the landlord had actual knowledge.
In re Katrina Canal Breaches Consol. Litig., No. CA 10-866, 2013 WL 1562765 (E.D. La. Apr. 12, 2013).
All policies cap the insurer’s payment obligations at specified coverage limits and sometimes, at sublimits. These fixed limits and sublimits will be set out on the Declarations Page. The owner must be sure that these fixed limits are sufficient to encompass all of these Replacement Costs and must estimate the actual Replacement Costs of the property realistically and with some degree of accuracy, considering all possible costs.
The policy itself explains the application of this penalty. For example, if the Replacement Cost that could have been insured is $1,000,000 at the time of the loss, the coinsurance percentage is 80%, the policy limits are $500,000 the loss is $300,000, and the deductible is $50,000, then the coinsurance penalty will be triggered because the insured owner has insured its property for less than 80% of its insurable Replacement Cost.