Generally speaking, inverse condemnation is a cause of action against a public entity when a taking of private property has occurred without a formal exercise of the eminent domain power. The proper way to raise that cause of action varies from...
To successfully litigate a case before the U.S. Tax Court, mastery of the applicable substantive tax rules is crucial. However, the importance of the Tax Court’s unique Rules of Practice and Procedure (Rules) should not be overlooked. As one...
A lien on nothing. That is exactly what a leasehold mortgagee fears it will get when it accepts a ground lease as collateral for a commercial mortgage loan. The lease might terminate prematurely and destroy all of leasehold mortgagee’s collateral,...
Generally accepted audit standards (GAAS) require an auditor to communicate significant findings from the audit to those charged with governance in the entity being audited, which includes the audit committee of the company’s board of directors (AU...
After a year and a half of hunkering down, carefully quarantining, social bubbling, and generally acting like hermit crabs, the world—and the workforce—is slowly getting back on track. Just as the start of the pandemic was traumatic, reentry into...
The following checklist is meant to act as a guide to various lease terms and provisions specific to farm leases. However, each lease is specific to the parties involved; accordingly, some of the items addressed below may not be relevant to a given...
These Model Insurance Requirements for a Ground Lease (the “Model Insurance Requirements”) consist of an extensive and detailed set of up-to-date insurance requirements suitable for use in a ground lease (a “Lease”). The Model Insurance...
Unlike common law states that have not historically favored the use of a single joint revocable trust for spouses (hereafter referred to as the Joint Spousal Trust or JST), the JST has long been the gold standard estate planning tool of choice in...
Like every other aspect of life in New York over the past year, real property leasing, lending, and sales have been turned upside-down by the Covid-19 pandemic. Countless tenants and property owners have failed to pay full rent or mortgage...