Legal & Regulatory

The pandemic is unprecedented in modern history and current leases to not have proper provisions to properly address it.

The suit, which alleged breaches of 2015 lease extension, seeks money damages and at least $20,000 in attorney fees for bringing the action.

One lawyer warns that parties to these types of lawsuits must understand how intertwined their businesses are, so they can come to a resolution.

Developers can still secure entitlements through an all-virtual process. Even public hearings are done online.

Several 1031 exchange deadlines have been extended to provide investors with options to get through the pandemic.

In Chapter 11, the debtor will usually seek permission to use the income generated by the property. But if the license to use rents was terminated prior to bankruptcy, the rental income no longer is considered property of the debtor.

There are provisions in the CARES Act that specifically benefit real estate owners and investors.

Contractors and developers may find other legal defenses outside of the contract terms if force majeure language is missing from the original agreement.