Indiana courts have issued several opinions in the last year that underscore the risk to a lender who does not make a physical inspection of the property before it loans money against it. In these cases, the court ruled against lenders in various contexts for the reason that an inspection of the property would have revealed that there were parties in possession. This knowledge then gives rise to a duty on the part of the lender to inquire as to what those rights might be. Failing to take this step puts the lender at risk of being subordinate to any interest that the party in possession might have. 
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Real Estate Law Blog
Should Lenders Inspect Property Before They Lend?
Thursday, January 12th, 2012Title Insurance Versus Title Opinions
Tuesday, November 8th, 2011Lenders have always required evidence of good title to real estate as a condition to approving a mortgage loan. This evidence is usually in the form of a title opinion or title insurance. Whether to order a title opinion or title insurance will affect the amount of the borrower’s loan costs and the scope of protection afforded to the lender. You should be aware of the differences before deciding on the form of protection. (more…)
Beware of Disclaimers
Tuesday, September 27th, 2011When purchasing real estate, you hire many professionals to inspect the property and provide you advice. Various conditions are often reviewed including environmental contamination, termite damage, structural integrity, the operations of plumbing, electrical and mechanical systems, radon levels and boundary line encroachments. The consultants often provide you with their form of service contract immediately before performing their work. (more…)
Assessors Must Tell-All Concerning Your Oil and Gas Interests
Friday, August 26th, 2011New Law Releases Confidential Information Concerning Oil and Gas Lease Production and Ownership
Prior to July 1 of this year, Indiana Code provided that all information related to earnings, income, profits, losses, or expenditures given to an assessing official is confidential. This confidential information included earnings, income, profits, losses, and expenditures related to production of oil and gas. This oil and gas production information is—and continues to be—reported to the assessing officials on a form called a Form G&O-1 by the purchaser of the mineral. This form aids the assessor in determining the total taxes due and owing on producing oil and gas leases. The form includes information concerning a lease’s percentages of ownership and productivity. It also includes the names and addresses of those with an interest in the leasehold. Prior to July 1, the G&O-1 was a confidential document not subject to disclosure to the general public. It is no longer confidential. (more…)
What is Tax Abatement?
Wednesday, August 17th, 2011Tax abatement is an incentive tool used by local government to attract private investment, economic development, and job creation by phasing in all or a portion of new or increased assessed value resulting from such investment from taxation. Tax abatement can apply to both real and personal taxation. (more…)
Environmental Cost Savings: Reuse and Recycle Land and Materials
Tuesday, August 16th, 2011Reusing land and recycling materials are more than socially responsible business decisions. Businesses that reuse and recycle are saving money. Indiana’s Brownfield and Recycling Programs provide technical assistance and funding resources to help identify opportunities and develop cost saving solutions. (more…)
Levees, the Law, and Liability
Tuesday, July 5th, 2011With the recent flooding of the Mississippi River System, including our neighboring Ohio and Wabash Rivers, Hoosiers are reminded that while our rivers are vital natural resources, they can also cause devastating loss when their waters leave their banks. Flood control and prevention are necessary to protect property from damage and to keep people safe from rising waters. (more…)
RREAL IN Reporting to Cover Certain Cash Sales
Tuesday, June 28th, 2011The legislature has recently expanded the Indiana Residential Real Estate Acquisition of Licensee Information and Numbers Database program, which mandates the electronic reporting of certain information to the Indiana Department of Insurance (“IDOI”) regarding certain real estate transactions. Most significantly, cash sales of certain rental or investment properties will be covered, starting next year. (more…)
Bamberger Seminar – Major Legislative Changes that Will Affect the Construction Industry
Tuesday, June 7th, 2011The awarding of public works projects in Indiana is about to undergo profound changes for taxpayers, construction-related businesses, governmental entities and beyond. New laws going into effect July 1, 2011 greatly reduce the number of public works projects which will have to comply with the common construction wage and local government will now be mandated to award public works contracts to “local businesses,” giving preferential treatment to local contractors. These changes will completely alter the process of bidding on and being awarded public works projects. (more…)
Bamberger Seminar – Economic Incentives for Real Estate Development
Thursday, April 7th, 2011Bamberger is hosting a seminar in its Evansville office on Wednesday, May 11, 2011 from 11:30 am – 1:00 pm. In this seminar, the Bamberger team of real estate attorneys will discuss various forms of governmental incentives available for real estate development, such as TIFs (tax increment financing), tax abatement, and funding and financing Brownfield redevelopment. We will give real-life examples of these types of financial incentives and tell you how these measures can help you in your business development. (more…)