Category: Commercial Real Estate

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When Florida’s Transfer Tax Applies to Real Estate Deals: Handy Scenarios

Buyers and sellers of real property anticipate some tax consequences from a real estate transaction, but typically these concerns are limited to federal income tax implications. The reality is that most states impose various taxes that could affect the cost of the entire transaction, and they are either not considered or understood. One of these…
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What Florida Sales Tax Cut Means for Florida Commercial Tenants

Broadly speaking, according to the Florida Department of Revenue, each Florida sale, amusement park admission, storage unit and rental is taxable (unless it falls under an exemption, such as nonprofits). More specifically, sales tax is imposed on the rental of real property. As stated explicitly in the Florida Statutes, any business or person that rents,…
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Title Insurance or Not, Don’t Dismiss the Value of Title Search

For those of you who question whether an owner’s policy of title insurance is a waste of money, please remember that examining title is still an essential component of due diligence investigations. Real estate investments are usually significant transactions, whether for individuals or businesses. If you are focused on protecting your financial interests, a careful…
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Short-Term Rental Proposal is Latest Threat to Airbnb/Vrbo Business Model

In many states, the tide appears to be turning against short-term rentals. With restrictions on short-term rentals, such as Airbnb and Vrbo, on the rise, businesses operating short-term rental properties are running out of options. Such restrictions are not unheard of in larger vacation hot spots such as Miami or Nashville, seemingly with the goal…
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Allocating Risk in Real Estate Sales: Representations and Warranties

Although a majority of buyers in real estate transactions rely on their own inspections of property, most real estate purchase and sale agreements contain some seller representations and warranties regarding key factual matters that the buyer cannot independently verify. These representations and warranties serve as closing conditions as well as a basis for post-closing indemnification.…
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Rent is Due: Strategies for Landlords with Financially Unstable Tenants

Even landlords who conduct in-depth analyses of tenant credit and financial health will experience some tenants who become financially unstable during the term of the lease. In an environment where replacing tenants can be challenging, many landlords should consider the potential benefits of negotiating a restructuring of the tenant’s lease obligations or offering an agreed…
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Laura M. Kaplan

How Florida’s Live Local Act Expedites Affordable Housing Construction

In the past several years, Florida has seen a population explosion, with over 1,000 people moving to Florida each day.[1] With such a rapid increase in population, demand for housing in suburban and rural areas of Florida is at an all-time high, and the supply of affordable housing has not kept up. To combat this…
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Brad G. Hickey