Client Update

Condominium associations play a vital role in the success of condo projects. Generally, condo associations are formed as not-for-profit corporations and their officers and directors are tasked with establishing a budget to address their operating expenses, set aside funds for future repairs and projects, and to enforce the rules and procedures of the complex. The…

Illinois joins a growing list of jurisdictions, including California, District of Columbia, Maryland, Massachusetts, Oregon, Rhode Island, Virginia and the State of Washington, that have recently passed legislation limiting or outlawing restrictive employee non-competition and non-solicitation covenants. There is also a new push at the federal level to all but bar non-competition agreements, except under…

On August 26, 2021, the U.S. Supreme Court, in a per curiam opinion, vacated the stay of a judgment by the U.S. District Court for the District of Columbia, which had held that the Centers for Disease Control and Prevention (“CDC”) had lacked statutory authority to impose a nationwide moratorium on evictions of tenants in…

With the rising emergence of environmental, social and governance (ESG) initiatives globally in recent years, lenders and borrowers have collaborated to create new financial instruments that incentivize borrowers to achieve the ESG-related goals of their business. The sustainability-linked loan (SLL) product is one of these financial instruments, and takes the form of bonding lines of credit,…

Today, amidst the turmoil and uncertainty brought on by the COVID-19 pandemic, individuals may want to take advantage of lower property values in certain areas of the country and purchase real estate with the intention of renting it and creating and receiving regular cash flow. It is important to note that for federal tax purposes, if…

Over the past few weeks, the nation has painfully witnessed the moment-by-moment tragedy unfold with respect to the failure and collapse of Champlain Towers South’s 1981 twelve (12) story residential unit condominium building (the “Surfside Building”) in Surfside, Florida (the “Collapse”). There is nothing positive about the Collapse nor about the losses that so many people…

Although no one can predict with any degree of certainty as to exactly when commercial real estate (“CRE”) markets will return to the boom times enjoyed prior to and right up to the onset of the pandemic, one can rest assured that CRE, as an asset class, will make a swift recovery. In any event, CRE…

On April 19, 2021, the U.S. House of Representatives once again passed H.R. 1996, the Secure and Fair Enforcement (SAFE) Banking Act of 2021 (the “Act”). This is now the fourth time that the Act has passed the House in one form or another, however, this is the first time that a Democratic Senate and…

Though the U.S. does not currently offer temporary work visas for startup founders, regulations enacted under the auspices of Section 212(d)(5) of the Immigration and Nationality Act, 8. U.S.C. 212(d)(5) and known as the International Entrepreneur Parole Rule (“IEP Rule”), provide foreign entrepreneurs a pathway to entering and working in the United States. While H1-B…

The American Land Title Association (“ALTA”) and the National Society of Professional Surveyors (“NSPS”) have historically agreed upon certain standards relating to title to real estate and the components of surveys with respect to the boundaries of lots. It is of the upmost importance that all of the parties to a real estate transaction understand…