Nonrecourse clauses revisited

Article Abstract:

Nonrecourse agreements between developers and their landlords have frequently been found wanting by landlords who find themselves immersed in costly litigation upon foreclosure. The popular agreements, born in the 1980s to entice developers to risk building income property, are not clear on the foreclosure proceedings. As a result, developers who have the right to walk away from projects can force concessions from landlords who would otherwise find themselves financially culpable.

Analysis, Nonrecourse debt, Default (Finance)

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Nonrecourse carveouts: how far is far enough?

Article Abstract:

Mortgage lenders may have gone too far in imposing nonrecourse "carveouts," which place borrowers' personal assets at risk. Carveouts provide protections to lenders, but they also have both administrative and market costs. One way to limit carveouts is to consider alternative methods of mitigating the risks that carveouts are designed to address.

Mortgage Bankers, Real Estate Credit, Lessors of Real Estate, Real Property Lessors, Interpretation and construction, Finance, Real estate industry, Mortgage banks, Landlords, Mortgages

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Hotel management agreements: the owner's agenda

Article Abstract:

Issues concerning the negotiating or renegotiating of a hotel management agreement are discussed. Attention is given to what the owner can hope to achieve and where compromises may be made.

Hotels and motels, Hotel and motel management

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