The seller represented in a contract of sale that a commercial lease at the property to be conveyed did not contain a right of first refusal to purchase (“ROFR”). The sale closed; the purchaser obtained loans from Signature Bank secured by two mortgages.

What is the scope of a non-assignability provision in a commercial lease? How specific must the non-assignability language be to cover collateral assignments for security as well as absolute present assignments of possession and use? If the lease clause ...

A recent Wisconsin Court of Appeals opinion, MidCountry Bank v. Bork, 371 Wis. 2d 564 (2016), serves as a reminder for lenders and attorneys that judicial foreclosure in Wisconsin (and many other states) is an equitable remedy -- which a court may either ...

Mechanics liens were filed in connection with two construction projects in Manhattan. The Plaintiffs sought an accounting, declaratory relief, damages for the costs of labor, materials and services furnished, and alleged a diversion of trust funds The ...

Local Law 46-2016 was enacted by the Town Board of the Town of Hempstead to add Section 128-61.1 (“Foreclosures; Undertaking”) to the Town’s Code which requires a lender foreclosing a mortgage on vacant property improved by a single-family, a two-family ...

Parties submitting Deeds, Memorandum of Lease, Deeds of Trust, Modifications and Easements to the Recorder of Deeds for filing in the District of Columbia will be required to present a properly completed FP 7 form as well as supportive documentation in ...