Real property law

One Liberty Properties Sells Retail Property for $40.5 Million

Retrieved on: 
Monday, June 21, 2021
Real property law, Leasing, Legal systems, Loans, Mortgage loan, Property tax, Net lease, Property law, Law, Property

The proceeds were used to repay a $15.4 million mortgage on the property, pay off the $17.9 million outstanding balance on the Companys credit facility and pay transaction related costs.

Key Points: 
  • The proceeds were used to repay a $15.4 million mortgage on the property, pay off the $17.9 million outstanding balance on the Companys credit facility and pay transaction related costs.
  • The remaining proceeds of approximately $5.4 million will be used for general corporate and working capital purposes.
  • The Company acquires, owns and manages a geographically diversified portfolio consisting primarily of industrial, and other property classifications.
  • Many of these properties are subject to long-term net leases under which the tenant is typically responsible for real estate taxes, insurance and ordinary maintenance and repairs.

Kay Properties Clients Thankful for Delaware Statutory Trust 1031 Investment Marketplace During COVID-19

Retrieved on: 
Friday, June 18, 2021
Internal Revenue Code section, Real estate investing, Real property law

One of our clients completed an extensive search for properties but was unable to find a commercial property with favorable lease and loan terms during his identification period.

Key Points: 
  • One of our clients completed an extensive search for properties but was unable to find a commercial property with favorable lease and loan terms during his identification period.
  • Alex Madden, Vice President of Kay Properties and Investments, explained: As real estate investors across the country seek to evaluate properties for 1031 exchanges there are always a lot of factors.
  • Chay Lapin, President of Kay Properties and Investments, added: The marketplace of DSTs available on the KPI 1031 platform is impressive.
  • Kay Properties team members collectivelyhave over 115 years of real estate experience, are licensed in all 50 states,and have participated in over $21 billion of DST 1031 investments.

NCLA Files Third Circuit Appeal to Stop Gov. Murphy’s Rental Security Deposits Executive Order

Retrieved on: 
Thursday, June 17, 2021
Articles, Economy, Landlord–tenant law, Real property law, Renting, Law, Governor of New Jersey, Contract Clause, Lease, Security deposit

Washington, D.C., June 16, 2021 (GLOBE NEWSWIRE) -- New Jersey Governor Phil Murphy chose economic winners and losers with Executive Order No.

Key Points: 
  • Washington, D.C., June 16, 2021 (GLOBE NEWSWIRE) -- New Jersey Governor Phil Murphy chose economic winners and losers with Executive Order No.
  • 128 (EO 128), an unconstitutional mandate that forces residential housing providers to credit tenants security deposits toward rent payments.
  • NCLA urges the Third Circuit to restore the rule of law for all New Jerseyans by ruling that EO 128 violates the Contracts Clause of the U.S. Constitution.
  • By waiving nonwaivable provisions of the Rent Security Deposit Act, a law governing security deposits for residential leases in New Jersey, the Governor violated the Contracts Clause of the U.S. Constitution.

FCPT Announces Acquisition of a Chili’s Restaurant Property for $2.8 Million

Retrieved on: 
Wednesday, June 16, 2021
REIT, Restaurant, Bar, Retail, Commercial Building & Real Estate, Construction & Property, Leasing, NNN lease, Real property law, NNN, Finance

Four Corners Property Trust (NYSE:FCPT), a real estate investment trust primarily engaged in the ownership of high-quality, net-leased restaurant properties (FCPT or the Company), is pleased to announce the acquisition of a Chilis property for $2.8 million.

Key Points: 
  • Four Corners Property Trust (NYSE:FCPT), a real estate investment trust primarily engaged in the ownership of high-quality, net-leased restaurant properties (FCPT or the Company), is pleased to announce the acquisition of a Chilis property for $2.8 million.
  • The property is located in a strong retail corridor in Texas and is corporate-operated under a triple net lease with approximately nine years of term remaining.
  • FCPT, headquartered in Mill Valley, CA, is a real estate investment trust primarily engaged in the acquisition and leasing of restaurant properties.
  • The Company seeks to grow its portfolio by acquiring additional real estate to lease, on a net basis, for use in the restaurant and retail industries.

Digital Executor®: Unraveling the New Path for Estate Planning, Now Available to Guide Advisors on the Digital Transformation Impacting the Estate Industry

Retrieved on: 
Wednesday, June 16, 2021
Parenting, Seniors, Publishing, Finance, Banking, Communications, Professional services, Books, Family, Consumer, Inheritance, Law, Articles, Real property law, Computer law, Digital inheritance, Digital preservation, Private law, Estate planning, Executor, Estate

Sharon Hartung, Your Digital Undertaker, recognized as one of the leading and original voices in digital estate planning globally, announces the launch of her latest book, Digital Executor: Unraveling the New Path for Estate Planning .

Key Points: 
  • Sharon Hartung, Your Digital Undertaker, recognized as one of the leading and original voices in digital estate planning globally, announces the launch of her latest book, Digital Executor: Unraveling the New Path for Estate Planning .
  • Digital Executor: Unraveling the New Path for Estate Planning explores how the proliferation of these digital assets is making technology the new player at the estate planning table.
  • Digital Executor: Unraveling the New Path for Estate Planning examines vital topics, including:
    The context of where technology fits in a clients estate, an advisors profession, and organizational practices.
  • The fundamental reasons why digital assets and estate planning tools are critical for advisors to understand to better manage their clients estate.

Vylla Title Licensed to Operate Throughout the State of California

Retrieved on: 
Wednesday, June 16, 2021
Professional services, Residential Building & Real Estate, Commercial Building & Real Estate, Finance, Construction & Property, Banking, Escrow, Personal finance, Real property law, The Californias, Spanish Empire

On June 1, 2021, Vylla Title was granted an all-county license to operate in California, bringing its singular title and escrow expertise to the Golden State.

Key Points: 
  • On June 1, 2021, Vylla Title was granted an all-county license to operate in California, bringing its singular title and escrow expertise to the Golden State.
  • As the premiere provider of title and settlement services, we believe Californias consumers, lenders and real estate businesses will benefit significantly from Vylla Titles operations in California.
  • The all-county license is the critical designation that allows Vylla Title to operate across the entire state of California, differentiating the company from other title providers only licensed to operate in limited areas or only specific individual counties.
  • To share the companys capabilities with businesses throughout California, Vylla Title will expand its existing corporate relationships inside the state.

SellYourCondo.com Matches Las Vegas-Area Condominium Sellers with Guaranteed Cash Buyers

Retrieved on: 
Wednesday, June 16, 2021
Real property law, Condominium, Real estate

Owners of condominiums who want to quickly sell their properties are turning to Wagner to quickly sell their units for cash, as he is able to instantly match them with willing cash buyers.

Key Points: 
  • Owners of condominiums who want to quickly sell their properties are turning to Wagner to quickly sell their units for cash, as he is able to instantly match them with willing cash buyers.
  • "There is a lot of money to be made for people who have held onto their Las Vegas condominiums and now are eager to sell," said Wagner.
  • I can sell your condo in a matter of days for cash, and that is a win-win for everyone."
  • SellYourCondo.com matches condominium sellers with cash buyers and local real estate professionals.

LegalShield May Housing Construction Index Continues to Surge as Plan Members Pursue A Post-Covid Lifestyle

Retrieved on: 
Tuesday, June 15, 2021
Commercial Building & Real Estate, Legal, Technology, Construction & Property, Finance, Security, Professional services, Small business, Other Construction & Property, Residential Building & Real Estate, Finance, Money, Foreclosure, Mortgage, Real property law, United States housing bubble, Urban decay, LegalShield, Mortgage loan, Housing, Economy

Two of its sub-indices, The LegalShield Housing Construction and Housing Sales Indices, both climbed for the third straight month to reach record highs.

Key Points: 
  • Two of its sub-indices, The LegalShield Housing Construction and Housing Sales Indices, both climbed for the third straight month to reach record highs.
  • LegalShield continues to receive and resolve an unprecedented number of requests from members seeking attorney reviews of their mortgage and commercial real estate contracts.
  • Our index comprises five sub-indices Consumer Stress, Bankruptcy, Foreclosure, Housing Construction, and Housing Sales constructed from the companys proprietary data, accumulated over the past 16 years.
  • The LegalShield Housing Construction Index rose from 144.4 to 146.7 in May, a new all-time high.

May Foreclosure Starts Up 36 Percent Year-Over-Year

Retrieved on: 
Tuesday, June 15, 2021
Mortgage, Property law, Real property law, Money, Finance, United States housing bubble, Foreclosure, Urban decay, RealtyTrac, Mortgage loan, Notice of default, Repossession

Foreclosure Market Report, which shows there were a total of 10,821 U.S. properties with foreclosure filings default notices, scheduled auctions or bank repossessions down 8 percent from a month ago but up 23 percent from a year ago.Foreclosure starts, which represent the initial notice of default, grew by 36 percent year-over-year.

Key Points: 
  • Foreclosure Market Report, which shows there were a total of 10,821 U.S. properties with foreclosure filings default notices, scheduled auctions or bank repossessions down 8 percent from a month ago but up 23 percent from a year ago.Foreclosure starts, which represent the initial notice of default, grew by 36 percent year-over-year.
  • "While the increase in foreclosure activity is significant, it's important to keep these numbers in perspective," said RealtyTrac Executive Vice President Rick Sharga.
  • The ATTOM May 2021 U.S. Foreclosure Market Report shows that nationwide one in every 12,700 housing units had a foreclosure filing.
  • ATTOM provides foreclosure data licenses that can power various enterprise industries including real estate, insurance, marketing, government, mortgage and more.

Update on legal proceedings

Retrieved on: 
Tuesday, June 15, 2021
Finance, Money, Real property law, Landlord–tenant law, Arrears, Debt, Economy, Land tenure, Leasing, Leasehold estate, Rent control in Scotland

Dissemination of a Regulatory Announcement, transmitted by EQS Group.

Key Points: 
  • Dissemination of a Regulatory Announcement, transmitted by EQS Group.
  • The issuer is solely responsible for the content of this announcement.
  • Further to the Company's announcement of 23 April 2021 regarding the successful outcome of its legal action against two well-funded national tenants to recover unpaid rent, the Company can report that neither tenant sought the court's permission to appeal the decision of the Master and have now paid all the rent arrears claimed in the proceedings, as well as reaching an agreement on the legal costs incurred.
  • With regards to the outstanding rent arrears that had fallen due for payment since the claims were issued, these amounts have also been paid in full, and as a result the Company has received the full amount of rent arrears of 1,200,566 referred to in the previous announcement on 23 April.