Although title companies, lenders, and contracting parties may be able to continue business by telecommuting during the coronavirus pandemic, they still may need to adapt and change their closing checklists to assure that closings go forward as planned.
Read MoreAs states order closure of non-essential businesses, differing federal and state standards can make it challenging for business and real estate owners to determine whether their busineses are essential and can remain open.
Read MoreParties entering into contracts during this historic pandemic may want a COVID-19 specific force majeure clause. Since these clauses cover a force majeure event that is already occurring, they require different considerations than typical force majeure clauses.
Read MoreBusiness owners should review their contracts and take steps to assure that contract notice provisions include options that will reach the business during a period of mandatory seclusion.
Read MoreThroughout the nation, businesses and real estate owners are facing financial challenges due to coronavirus. If the businesses aren't closed altogether, they may have fewer customers and lower profits, if any. And there are the additional out-of-pocket costs associated with combating COVID-19. In some instances, business interruption insurance or contract risk allocation language may provide relief from COVID-19 financial losses.
Read MoreMarket changes and governmental requirments due to coronavirus may trigger contract force majeure provisions and excuse parties from contract performance.
Read MoreOn March 4, 2020, the Securities and Exchange Commission (SEC) proposed a new rule, which would clarify and harmonize integration concepts for several types of exempt offerings. The new rule also would shorten the safe harbor in Regulation D from six months to 30 days
Read MoreLike all businesses, commercial real estate owners should educate themselves and do what they can to minimize the risk of COVID-19 to their employees and tenants.
Read MoreMany commercial real estate leases contain tenant relocations, which allow the landlord to require that the tenant move to a different rental space.
Read MoreTenants should educate themselves about how rent is calculated to assure that they enter into a lease that best meets their business needs.
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