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Features
In September 2016, a national title company invoked the Perishable Agricultural Commodities Act (PACA) when it raised an exception on a title commitment for the sale of real property upon which a grocery store was a tenant. The title company asked the owner to execute an affidavit and indemnity in the title company's favor with regard to any PACA liens incurred by the tenant. This new exception has elicited a fair amount of confusion as to why an 86-year-old statute would suddenly present a cloud on title.
Features
Recently, the Second Department faced three claims of equitable subrogation over a two-week period and in two of those cases, indicated that the doctrine would not be applicable if the junior mortgagee advanced funds to satisfy a senior mortgage with knowledge of an interest whose priority was inferior to that senior mortgage.
Features
<i><b>The Mysteries and The Risks</b></i><p>The triple net lease, or NNN (also known as a bondable lease), is a common lease structure used in commercial real estate. Even though it has become widely popular, the most seasoned investors and their advisers do not always fully understand the details.
Features
According to the recently released U.S. Equipment Finance Market Study 2016-2017, conducted for the Equipment Leasing and Finance Association, 78% of respondents used at least one form of financing when acquiring equipment in FY 2015. This is up from 72% of respondents from the previous Foundation market study released in 2012, and represents an increase in the overall propensity to finance.
Columns & Departments
A look at a case in which stipulation of a settlement in a nonpayment proceeding estopped a landlord from collecting rent after the tenant surrendered possession.
Columns & Departments
A New York court has found that a landlord did not commit fraud when it failed to disclose to its prospective tenant that a long-term municipal improvement construction project was about to commence near the leased premises.