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Don’t Let Deposits Spoil the Deal
  • Reed Smith LLP
  • United Kingdom
  • April 25 2016

A recent case acted as a reminder of the risk inherent in taking a contractual deposit which is greater than the market norm. That case involved


(US) For Virginia Land Use, Local Governments Have To Follow The Rules
  • Reed Smith LLP
  • USA
  • April 21 2016

Starting July 1, 2016 Virginia local governments must, in reviewing a residential rezoning or concept plan amendment, determine whether a requested


CFPB supervisory highlights - compilation of all nine editions from 2012-2015
  • Reed Smith LLP
  • USA
  • December 3 2015

The Consumer Financial Protection Bureau (CFPB or Bureau) supervises certain financial institutions and service providers to determine


Financing contingencies and earnest money deposits: if I can't get my loan, I get my deposit back, right?
  • Reed Smith LLP
  • USA
  • February 22 2012

Real estate purchasers whose contract permits the return of the earnest money deposit if financing cannot be obtained must be extremely careful in how this contingency is worded in the purchase contract, or a purchaser may get an unwelcome surprise, and be forced to forfeit the earnest money when financing cannot be obtained


A new broom: sweeper clauses in residential leases
  • Reed Smith LLP
  • United Kingdom
  • April 8 2016

Properly employed, sweeper clauses are designed to catch service charge costs that may be unforeseeable at the time of drafting. This is an essential


(US) Commercial real estate brokerage agreements: imprecise commisson language can cost you
  • Reed Smith LLP
  • USA
  • July 24 2015

It would be unfair (and likely bad faith) for a property owner to terminate a brokerage agreement prior to entering into a sales agreement or lease


Court grants parent companies standing to sue lender as third-party beneficiaries of loan commitment agreements
  • Reed Smith LLP
  • USA
  • June 15 2011

A real estate lender agreed to finance three existing projects by lending money to three separate Single-Asset Bankruptcy Remote Entities (SABREs), owned by certain real estate investments trusts, and to finance $160 million in future ventures of the trusts, with further SABREs to be created as each deal came to fruition


Lease Assignments to Guarantors No Longer Valid
  • Reed Smith LLP
  • United Kingdom
  • March 30 2016

It is now clear that leases cannot be assigned to the tenant's guarantor but serious issues arise out of the recent High Court case of EMI Group


Ninth Circuit joins Eleventh, holds there is federal common law of receivership
  • Reed Smith LLP
  • USA
  • October 15 2009

The U.S. Court of Appeals for the Ninth Circuit has held that there is a federal common law of receivership in the context of real property security interest, joining the Eleventh Circuit


Junior lien holder bankruptcy stays foreclosure by senior lien holder
  • Reed Smith LLP
  • USA
  • April 27 2009

A bankruptcy filing by a property owner may not be the only action that prevents foreclosure of a security interest in that property held by a secured creditor