Secured lenders need to be aware that they must provide a notice to buyers of farm products if the buyer is to take the farm products subject to the lender’s security interest. Failure of the secured lender to send such a notice to the buyer will not obligate the buyer to deliver proceeds of the sale to the secured lender and the secured lender could miss out on the opportunity to collect such proceeds before they are in the hands of the debtor. Of course, the secured lender would still have a security interest in such proceeds, but if they are in the hands of the debtor, they may no longer exist when the secured lender seeks to collect them. (more…)
Real Estate Law Blog
Down on the Farm – Notice of Security Interest to Buyers of Farm Products
Thursday, March 17th, 2011Verbal Mortgage Release Not Enforceable
Thursday, March 10th, 2011An employer loaned his employee money to buy a house. As the employment relationship went on, the employee alleged that the employer agreed to release the mortgage on the house. However, no written document was ever signed releasing the mortgage. (more…)
A Caution About Deed Forms in Real Estate Purchases
Wednesday, March 2nd, 2011Usual practice calls for a purchaser of real estate to get a warranty deed at closing. When a deed recites that the seller “conveys and warrants” the property to the buyer, if there is a problem with the title or right of possession after the closing, the seller has to make it good, except as to any problem or encumbrance identified in the deed and excluded from the operation of the warranties. This gives the buyer a claim against a seller for any problems with the title to the real estate that were not revealed by the title insurance commitment or other title search, or even if no title search or title insurance commitment was obtained (which is a bad idea for any purchaser, but that is another article). (more…)
Bamberger Seminar – A Practical Approach to Managing Environmental Issues in Manufacturing
Monday, February 28th, 2011Join the attorneys at Bamberger on March 16, 2011 from 7:30 to 9:00 am for a complimentary seminar covering environmental issues facing manufacturers and other businesses today.
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Why Should I Buy a Survey?
Friday, February 18th, 2011A survey should be considered for all purchases of real estate and when lenders are making significant mortgage loans. A survey will locate boundaries, encroachments, overlaps and access to the real estate. The survey will reveal whether improvements have been built in the proper location. The survey will also confirm the accuracy of a legal description to be used in a deed or mortgage. Finally, a survey will determine the acreage amounts contained within a tract of land. (more…)
A Few Years Ago We Thought Receiverships Were Dead
Wednesday, February 16th, 2011Over the past few years, a number of amendments to the Bankruptcy Code have made bankruptcy a less flexible tool for debtors dealing with real estate related debt problems. As a result, state law receiverships are on the rise. Where before we rarely, if ever, saw receivership action initiated by a lender, they are now quite common. (more…)
When is a Landlord Liable to a Nearby Property Owner for a Nuisance Caused by its Tenant?
Thursday, February 10th, 2011When environmental contamination from a property migrates off-site, it is common to bring the owner of that property (and all the insurance companies) to the table to pay for the environmental defense, damages and cleanup costs of the impacted neighbors. (more…)
Bamberger Seminar – Minimizing Risk in the Construction Industry
Thursday, February 3rd, 2011Join the attorneys at Bamberger on February 22, 2011 from 11:30 am to 1 pm for a complimentary seminar covering risk issues facing the construction industry today. CEU credit (one hour) is available to engineers, contractors and subcontractors (pending approval). (more…)
Tax-Deferred Exchanges
Tuesday, January 25th, 2011Are you considering selling real estate but concerned about paying capital gains on the sale? If so, you may want to consider utilizing a tax-deferred exchange under Section 1031 of the Internal Revenue code. (more…)
Bamberger Seminar – A Practical Approach to Managing Environmental Issues in Manufacturing
Tuesday, January 18th, 2011Join the attorneys at Bamberger on February 2, 2011 from 7:30 to 9:00 am for a complimentary seminar covering environmental issues facing manufacturers and other businesses today. (more…)