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Effects of COVID-19 Shutdown on Commercial Real Estate
Much attention has been paid to the devastating effects of the COVID-19 pandemic on income, unemployment and cash flow for businesses. But new research from Trepp takes an eye opening look at what the shutdown of many businesses may do to the worth of commercial real estate.
In a five-page report, the consulting firm takes a deep dive into how appraisals are calculated. It raises more questions than it answers. But it signals dramatic changes ahead.
"Market value is representative of a transaction where no exceptional factors influence the parties (buyers, sellers, lenders)," Trepp reported. "The concepts of market value as previously defined do not contemplate how short-term occupancy and revenue declines caused by external forces, beyond the control of the owner/property manager, should be treated by the appraiser. Until the pandemic surfaced, many commercial real estate property sectors were pacing above their previous year's performance metrics. Employment and other market-level indicators such as interest rates and the availability of financing were favorable and readily available across all major metros in the United States."
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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.
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.
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.
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?
Legal Possession: What Does It Mean?
Possession of real property is a matter of physical fact. Having the right or legal entitlement to possession is not "possession," possession is "the fact of having or holding property in one's power." That power means having physical dominion and control over the property.