Oftentimes, residential and commercial real estate developers or brokers may confront title issues that interfere with the ability to sell or close on a property. If the property owner does not have clear, marketable title, it means that there is a “cloud on title.” Since clouds on title interfere with […]
Using “self-help” as a means to evict commercial tenants is no longer acceptable and likely to result in a lawsuit against the commercial landlord. When a tenant fails to pay rent as it becomes due, breach appears to be undisputed. After all, paying rent is typically why the tenant is […]
The impact of the COVID-19 pandemic has been difficult on Florida businesses, particularly those in the hospitality, travel and restaurant industries, forcing many of them to close their doors to the public at various times and to suffer financial hardship. As businesses are beginning to re-open, a growing concern has […]
Lenders, Developers, Environmental Professionals and others over the years have come to know the industry standard for conducting and reporting environmental due diligence, “ASTM E1527 Standard Practice for Environmental Site Assessment: Phase I Environmental Site Assessment Process”. E1527 (commonly referred to as a “Phase I”) was designed by ASTM International […]
A business owner may enter into a commercial lease for purposes of renting space to operate its business activities. Unlike residential leases, a commercial lease should not be a one-size-fits-all lease. Under Florida law, non-residential tenancies (commercial tenancies) are governed by Sections 83.001-82.251 of the Florida Statutes. Business owners, or […]
On December 22, 2020, the United States Environmental Protection Agency (EPA) delegated to the Florida Department of Environmental Protection (FDEP) the authority to issue Section 404 federal Clean Water Act (CWA) permits for dredge and fill activities in certain waters within Florida. The state’s assumption of responsibility over Section 404, […]
The coronavirus or COVID-19 pandemic (or perhaps the resulting monetary policy) has caused materials costs to skyrocket. In the past year, as of early February 2021, steel prices are up about 27%; copper prices are up about 37%; rubber prices are up about 62%; lumber prices are up about 113%; […]
A lis pendens is a common tool used in Florida to put third parties on notice of a pending lawsuit against real estate. If filed properly, a lis pendens protects the plaintiff in a lawsuit from any intervening liens on the property filed after the lis pendens. However, property owners […]
As discussed in parts 1-4 of this series, lenders have several options prior to instituting a commercial foreclosure action. Additionally, as briefly discussed in part 5 of this series, during the foreclosure action, lenders have options to try to preserve the value of the underlying collateral and to minimize further […]
Sometimes, foreclosure of a commercial property is the only option available to lenders and servicers to limit losses as a result of defaults on hotel and restaurant mortgages. Parts 1-4 of this series discussed pre-foreclosure options available to lenders dealing with hotel/restaurant mortgage defaults. This article provides a high-level overview […]