Sight-reading is a crucial skill for a professional musician. Many auditions include a sight-reading “test,” to see whether the musician can perform at a high level with little rehearsal time. When reviewing real estate contracts, many people act like an inexperienced musician sight-reading music.
Read MoreOnce a music classmate asked me for help on his music theory homework. Immediately, I saw his challenge. My classmate he had glossed over the clef signs, thinking they were “boilerplate.” When reviewing real estate contracts, many people gloss over miscellaneous “boilerplate” sections. "Boilerplate” sections are important, and contracting party can get burned by not carefully reviewing and negotiating them.
Read MoreThe relationship between a violin and the violinist who plays it[1] is a close one. Such likely was the case with violinist Roman Totenberg with his close companion, the Ames Stradivarius when, in 1980, the violin was stolen from Totenberg’s office in Cambridge, Massachusetts. A violin thief does not gain title merely because he has possessed the violin for a period of time. With real estate, however, there is the possibility of someone who unlawfully uses someone else’s property gaining title through “adverse possession.”
Read MorePerformers spend much time and effort planning out exactly how they will perform a work with the performer’s unique interpretation and rendition of a musical composition. Yet, a performer usually cannot be guaranteed control over what happens with that performance or that he/she will be compensated when it is reused. Composers, record companies, and visual artists fare better under the law. They all have clear protection under copyright law, and visual artists far even better; they have a special law, called the Visual Artists Rights Act.
Read MoreMusicians need to practice their instruments, both to learn music and to hone their craft. For those living next door, even professional musicians’ practice may not be “music to the ears.” As a result, it is not unheard of for professional musicians to find themselves in disputes with neighbors or landlords.
Read MoreIt is difficult to play a violin in tune. For one thing, unlike with a guitar, there are no frets or markings on a violin fingerboard to tell the violinist where to put his/her fingers. Even a millimeter difference in finger placement can be the difference between an in-tune and out-of-tune note.
Read MoreA few weeks ago, out of the blue, I received an e-mail purporting to be from a real estate paralegal at a law firm with which I had been working on a real estate transaction several months before. The e-mail included a link, which appeared to be a legitimate link from a well-known electronic signature processor, asking me to securely download a document for electronic signature. This particular e-mail made me suspicious because I had no open real estate transactions with the law firm that sent me the link.
Read MoreRecently, while in the midst of a managing a complicated commercial real estate closing, I took a few hours off to attend an orchestra concert. During intermission, while orchestra took a break, a string quartet played in the lobby. It was then that I realized that the typical commercial real estate transaction frequently has at least 15 different roles and is much more like an orchestra than a string quartet.
Read MoreImagine you are a professional musician who is building a performance career. You hire an artist manager to promote you, obtain performance gigs, and to negotiate contracts for your gigs for a period of five years. You hire an artist manager to promote you, obtain performance gigs, and to negotiate contracts for your gigs for a period of five years. Your manager’s primary compensation is a percentage of the compensation you receive from your gigs, plus reimbursement of certain of the manager’s costs. This arrangement is designed to incentivize your artist manager to work hard to get you as many bookings as possible as soon as possible.
Read MoreA real estate investor might start small, with a single duplex and eventually, through a series of purchases, sales, and reinvestments, the real estate investor may own multiple large apartment complexes, office buildings, or even high-rise mixed-use buildings. In those instances, although the primary purchase was real estate, each purchase would come with a certain amount of personal property in the form of appliances, furnishings, supplies, and other equipment necessary to operate the real estate. Comparing a real estate transaction to a violin purchase, purchasing the violin would be akin to purchasing the real property, and purchasing the bow and case would be more like the personal property that is purchased with the real estate investment.
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