House-closing repairs; a busy residential real estate market means more work for lawyers. But the increasing complexity of transactions calls for even more efficiency and attention to details
Article Abstract:
The National Ass'n of Realtors reports nears-record levels of home sales in 1998, and lawyers specializing in real estate work can also expect much work, but real estate closings have become highly complex and detailed, and lawyers must deal with new disclosure laws, increasingly complicated real estate taxes, environmental regulations and increasing layers of lender documents and demands. Sections covering title defects, disclosure of defects, real estate taxes and post-closing problems are presented.
Publication Name: ABA Journal
Subject: Law
ISSN: 0747-0088
Year: 1998
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Something in the air; ozone depletion raises commercial real estate issues
Article Abstract:
The accelerated phaseout of chlorofluorocarbons (CFCs) ordered by the Clean Air Act Amendments of 1990 makes it imperative that financial responsibility for the retrofitting of a CFC-based commercial chiller system be clearly spelled out in a lease. As a rule, commercial leases do not speak to this issue. Most commercial chillers in US office buildings use CFC-based refrigerants, and retrofitting will be costly.
Publication Name: ABA Journal
Subject: Law
ISSN: 0747-0088
Year: 1992
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Participating mortgages; exploring alternatives to real estate joint ventures
Article Abstract:
Participating mortgages have some advantages and drawbacks in comparison to real estate joint ventures. In a participating mortgage, the lender or investor obtains security, managing partner control, and limited liability and income benefits akin to limited partnership. Lending institutions, not able to participate in partnerships, can use participating mortgages in loan workouts.
Publication Name: ABA Journal
Subject: Law
ISSN: 0747-0088
Year: 1992
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