Covenants and Conditions in Contracts
Both real estate professionals and laypersons oftentimes are confused by the differences between covenants and conditions. In its simplest terms, a “covenant” is an agreement to do or to not do something. Covenants are unconditional promises found in contracts, and the failure of a party who makes such an agreement to abide by its terms will entitle the other contracting party to damages for breach of … Read More
15 Jaburg Wilk Attorneys Named to 2019 Best Lawyers® List
PHOENIX, Ariz. (08/15/2018) – Jaburg Wilk is pleased to announce that 15 lawyers have been included in the 2019 Edition of The Best Lawyers in America. Since it was first published in 1983, Best Lawyers has become universally regarded as the definitive guide to legal excellence.
"Best Lawyers was founded in 1981 with the purpose of highlighting the extraordinary … Read More
Real Estate Professionals Using Smart Technology Seminar
Laura Rogal joins a panel of experts discussing how real estate professionals can use smart technology. They will be addressing the use of technology to advertise while remaining compliant with Fair Housing rules and regulations. Additionally, they will discuss how proprietary information and data needs to be protected.
What: The Industry Revolution: Smart Technology, Big Data, Drones & … Read More
Beth Cohn: Speaker for AZ Crew Luncheon
Beth Cohn will discuss on "How the New Tax Law Impacts Real Estate Deals and Even Your Paycheck!"
What: Beth Cohn and Sandy Abalos will discuss the new tax law and their impact on real estate transactions including 1031 Like-Kind Exchanges, new partnership audit rules, reduced or elimination of travel and entertainment expenses, new 20% deduction for pass-through entities, estate planning … Read More
The Implied Covenant of Good Faith and Fair Dealing
Anybody who has ever had a child has heard the refrain “but that’s NOT FAIR.” While the concept of “fairness” plays a big role in how the world should operate in the minds of children, there is sometimes a disconnect between “fairness” and the “justice” that is doled out by the legal system. One notable exception is the application by the … Read More
Equitable Subrogation and the Replacement Doctrine
All real estate professionals and investors are familiar with the concept of the priority of liens. As a general rule, when there are multiple liens recorded against a property, the one that is recorded first is "superior" to the one that is recorded later, which, in turn, is "subordinate" to the one that is recorded first. This "ranking" of liens becomes critical if a lien is foreclosed, as upon the … Read More
Negotiating a Lease Renewal Option
Most tenants and their real estate agents who negotiate commercial leases accept that many of the terms in the landlord’s “form” lease favor the landlord. One term, however, that favors only the tenant, and which every commercial tenant should seek to include in their lease, is an option to extend the lease term. The reason that said term is only for the benefit of the tenant is that … Read More
The Defaulting Seller and a Notice of Lis Pendens
By David Allen
After months of searching, you have finally found the house of your dreams, and much to your delight the Seller has accepted your offer of $500,000. You deposit your $15,000 "earnest money" with the escrow company, and an escrow is opened. As part of your "due diligence" you spend $1,000 on inspections, and in anticipation of moving, you pay a moving company a $1,500 non-refundable deposit. The … Read More
Follow the CC&R's Because it's the Rules!
There are seemingly two types of people who live in houses or condominiums that are subject to rules and regulations, known as Codes, Covenants and Restrictions, or "CC&R's." There are those who live there because there are CC&R's, and there are those who live there despite the fact that there are CC&R's. The concept behind CC&R's is quite simple. If a group of people who own … Read More
Options and the Right of First Refusal in Commercial Leases
In commercial leases, it is common for the tenant to be given the "option" to continue to lease their premises for a new term commencing immediately upon the expiration of the existing term. Although the option only favors the tenant, who has the sole right to either exercise or decline to exercise it, there is usually little reason for a landlord to refuse to give such right to the tenant, in that under … Read More