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Tenant Estoppel Certificates: A Preparation Checklist for Buyers
When a buyer purchases a property with existing leases, the buyer is purchasing the income stream represented by the leases, and is also assuming the landlord’s obligations under the leases. So it is critical that the buyer know what it is getting into in order to protect its investment in the income, and to ensure... Read More. read more
Seller’s Defense Against the Flip: Restricting Purchase Agreement Assignment Rights
Articles, Featured, Purchase & Sale
Sellers of commercial real estate generally loathe dealing with flippers. What constitutes a flip? A flip occurs when the “original buyer” enters into a purchase contract and then assigns the purchase agreement to the “ultimate buyer” prior to the closing. First, the original buyer/flipper, if successful, makes a profit that the seller believes they should be pocketing....Read More. read more
Do you Really Need an ALTA Survey?
Articles, Due Diligence, Purchase & Sale
When acquiring commercial real estate, it is important to conduct due diligence to ensure there are no surprises that will affect the value or use of the property. One aspect of the due diligence process is considering obtaining an ALTA Survey. The two main reasons for obtaining an ALTA Survey are... Read More. read more
Financing a Tenant’s FF&E – Economic Issues that Impact Landlords and Tenants
Tenants often need to finance furniture, fixtures and equipment (“FF&E”) that will be used at the premises. In order to do this, a tenant must grant its lender a first priority, perfected lien against the FF&E. A careful review of applicable commercial lease provisions is necessary to ensure that (i) tenant is not be prohibited... Read More. read more
Lease Battle Line: The Fight for Assignment and Sublease Profits
If a profit can be made from assigning a lease or subletting the premises, who should keep the profits?The landlord owns the property and believes it is entitled to receive all income and profits earned from the property. The tenant realizes that if market rents fall...Read More. read more
Cellular Antenna Leases: A Checklist for Landlords
A cellular carrier’s lease form or the form of an independent cell site developer (both are referred to as a “carrier”) is prepared by and strongly biased in favor of the carrier. The desire of a landlord to earn easy income from a cell site lease should not cloud reason and the need to... Read More. read more
Mindjet Success Story – Rick Angel, Legal Innovator
MindJet, the leading mind mapping software company, features Rick Angel as a MindJet Success Story for his innovative use of technology in the legal industry. Rick began using MindJet Mindmanager over 5 years ago as a tool to manage the firm's transactions and to... Read More. read more
Negotiating a Lease Guarantee: 6 Bottom-Line Issues — Checklist Included
Landlords often require a personal or corporate lease guarantee, a separate document executed simultaneously with the lease, which makes the guarantor liable for the tenant’s defaults. The landlord and guarantor have conflicting interests regarding the desired scope of the guarantee... Read More. read more
Due Diligence for Commercial Real Estate: A Checklist for Seller’s Documents
Articles, Due Diligence, Purchase & Sale
When you buy a used car, you look under the hood and kick the tires. If you buy a jalopy at a great price, you tolerate more defects than if you buy an expensive performance vehicle at market price. The point is, you investigate and confirm the desirability and value of what you buy... Read More. read more
5 Steps to Keep your Letter of Intent Non-Binding
Articles, Leases, Purchase & Sale
You own real estate and sign a letter of intent that contains the material deal points for your transaction. At the end of the letter, it clearly states: “Unless a formal agreement is entered into within 30 days of the date of this letter, this letter of intent shall be non-binding and of no further... Read More.
Recent Posts
- Tenant Estoppel Certificates: A Preparation Checklist for Buyers
- Strategies for Negotiating Lease Guarantees
- Seller’s Defense Against the Flip: Restricting Purchase Agreement Assignment Rights
- Do you Really Need an ALTA Survey?
- Financing a Tenant’s FF&E – Economic Issues that Impact Landlords and Tenants
- Lease Battle Line: The Fight for Assignment and Sublease Profits