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Real Estate

Feb 01, 2022

No Way Out? Real Estate Lending Becomes Riskier

Every lender who provides funds for commercial real estate development expects to be repaid. That expectation, a fundamental part of our capitalist system, is the basis for a continuing willingness to advance capital to others. The lender looks first to the borrower, assessing competence, experience, and honesty, as well as the details of any particular development.» Read More

Nov 24, 2020

A New Jersey LLC Is Really a General Partner

On November 13, 2020, the Superior Court Appellate Division affirmed (per curiam) the November 15, 2018, judgment of the trial court in Steven BATITSAS, and Diane Sarahwati, Plaintiffs-Respondents, v. PARK POINT INVESTORS, LLC, Defendant-Appellant, (New Jersey Appellate Division, November 13, 2020) holding that the defendant LLC was liable to plaintiffs for the amounts in excess of debt realized from the sale of two rental properties.» Read More

May 12, 2020

Rent Guarantee Insurance – A Solution for Landlords?

The COVID-19 pandemic is having a profound impact on both insurance companies and their insureds with a multitude of claims having already been made and denied. Parties that have been especially hard hit financially by the pandemic are the owners of retail shopping complexes that have multiple tenants, many of which have had to close because they are “non-essential” businesses under government emergency orders.» Read More

Apr 16, 2020

The Coronavirus (COVID-19) and Impracticability and Frustration of Purpose as Defenses to Breach of Contract Claims in Pennsylvania

The onset of the COVID-19 pandemic has created a new normal in a multitude of economic sectors, including commercial transactions. From commercial leases to loan agreements to construction and supply contracts, questions are surfacing about the rights, liabilities, and defenses available to parties to a contract in view of the pandemic.» Read More

Apr 03, 2020

COVID-19 and Impracticability and Frustration of Purpose as Defenses to Breach of Contract Claims in Pennsylvania

In addition to any defenses to performance that may exist under force majeure provisions contained in a contract, Pennsylvania courts recognize impracticability of performance and frustration of purpose as defenses to breach of contract claims. However, the availability of impracticability and frustration of purposes defenses in any particular case is dependent upon the language of the contract and the facts and circumstances of the case.» Read More

Mar 27, 2020

Governor Wolf Approves Temporary and Limited Suspension of Rule Requiring Physical Presence of Notaries for Real Estate Transactions

On March 25, 2020, in response to the coronavirus (COVID-19) pandemic, Pennsylvania Governor Wolf approved a temporary and limited suspension of 57 Pa.C.S. § 306, which requires the physical presence of notaries, for both personal and commercial real estate transactions.» Read More