Law.com Subscribers SAVE 30%
Call 855-808-4530 or email [email protected] to receive your discount on a new subscription.
In the Spotlight: Be the Quarterback
Most real estate transactions involve not only a lease or purchase of property, but construction and/or development of the property as well. Transactions commonly require the participation of several people, forming a team of experts, to bring the transaction successfully from concept to fruition. Team members may include the real estate broker (or in-house real estate manager), construction manager, architect, site development manager, civil engineer, surveyor, land use/entitlement attorney, environmental attorney, title company, and real estate attorney, as well as paralegals. The entire team needs a central point for the coordination and dissemination of information coming from each team member's particular area of expertise. The large majority of such information will make its way into the contract being drafted and negotiated by the real estate attorney and necessitates that the real estate attorney take the lead (i.e., be the quarterback) to coordinate, gather, and disseminate information from and to the team members.
A typical real estate contract (whether it is a lease transaction or a purchase and sale transaction) contains the financial/business clauses of the deal; project and closing dates; due diligence conditions; entitlement and zoning conditions; environmental contingencies; construction responsibilities and time frames; escrows; construction hold backs; letter of credit requirements for construction of municipal improvements, such as sewer, water, drainage, and public road improvements; construction specifications; concept plans; building plans or the method of creation and approval of same; site plans with building areas; parking counts; construction reimbursables; division of responsibilities for government approvals; construction items; creation of plans; etc. All of the items listed above, plus many more, should be considered, evaluated, and resolved in order to finalize a real estate contract. If timing does not allow the resolution of all items prior to executing the contract (which is often the case), the contract must contain a method for resolving the items as they come up in the due diligence/development process.
Create a Checklist
This premium content is locked for Entertainment Law & Finance subscribers only
ENJOY UNLIMITED ACCESS TO THE SINGLE SOURCE OF OBJECTIVE LEGAL ANALYSIS, PRACTICAL INSIGHTS, AND NEWS IN ENTERTAINMENT LAW.
- Stay current on the latest information, rulings, regulations, and trends
- Includes practical, must-have information on copyrights, royalties, AI, and more
- Tap into expert guidance from top entertainment lawyers and experts
Already a have an account? Sign In Now Log In Now
For enterprise-wide or corporate acess, please contact Customer Service at [email protected] or 877-256-2473
Major Differences In UK, U.S. Copyright Laws
This article highlights how copyright law in the United Kingdom differs from U.S. copyright law, and points out differences that may be crucial to entertainment and media businesses familiar with U.S law that are interested in operating in the United Kingdom or under UK law. The article also briefly addresses contrasts in UK and U.S. trademark law.
Strategy vs. Tactics: Two Sides of a Difficult Coin
With each successive large-scale cyber attack, it is slowly becoming clear that ransomware attacks are targeting the critical infrastructure of the most powerful country on the planet. Understanding the strategy, and tactics of our opponents, as well as the strategy and the tactics we implement as a response are vital to victory.
The Article 8 Opt In
The Article 8 opt-in election adds an additional layer of complexity to the already labyrinthine rules governing perfection of security interests under the UCC. A lender that is unaware of the nuances created by the opt in (may find its security interest vulnerable to being primed by another party that has taken steps to perfect in a superior manner under the circumstances.
Removing Restrictive Covenants In New York
In Rockwell v. Despart, the New York Supreme Court, Third Department, recently revisited a recurring question: When may a landowner seek judicial removal of a covenant restricting use of her land?