Construction Contract Administration

Lorman

Construction Contract Administration is Essential for the Success of the Project. When construction personnel think of contract administration, it's usually in regard to documentation of daily activities occurring on the project. Often overlooked are those aspects of contract the lend themselves to cause disagreement or develop into disputes. Learn how good contract understanding will help develop and effective and efficient approach to construction project administration.
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Spotlight

Social media is a valuable tool for real estate brands, but only if they use it to their best advantage and avoid these three common mistakes.

OTHER ON-DEMAND WEBINARS

Curing Title Defects Under the 2021 Revised ALTA Owners and Loan Policies: Identifying and Resolving Common Defects

The goal of every real estate deal attorney is to ensure a timely and smooth closing of the transaction. Title defects are just one of the many hurdles that transaction attorneys must clear, and the newly revised ALTA policies can impact the ability to address those issues. While many risks can create an encumbrance on a title, some of the common title defects that face real estate practitioners are defects due to liens and judgments, the rights of third parties, and breaks in the chain of title. The new endorsements and addenda can create opportunities and obstructions to resolving those defects. Armed with the knowledge of curing these common title defects and the changes made to the ALTA policies, practitioners can ensure that they close commercial transactions on time and with little surprises. Listen as our authoritative panel of real estate practitioners discusses the revised ALTA policies, the best practices for curing title defects arising from judgments and liens, defects arising from the rights of third parties, and defects caused by breaks in the chain of title.
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How's the Real Estate Market?

The VP of Content and Marketing for Keeping Current Matters, David Childers, joins Breakthrough Broker President Eric Sachs on this month’s webinar to answer the real estate industry's burning questions. This must-see presentation will show you how the real estate market is looking for the rest of 2021 and how to answer the industry's toughest questions like: Are we in a housing bubble like 2008? Are homes affordable right now? Will inventory increase or decrease? And so much more!
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Mezzanine Foreclosure in Real Estate Finance: UCC Article 9, Mortgage and Intercreditor Constraints, Threshold Issues

Mezzanine loans have become the preferred vehicle for subordinate financing in real estate transactions. The repayment obligation is typically secured by a perfected UCC security interest in the mortgage borrower's equity interests. Counsel should have a thorough understanding of how the foreclosure remedy is exercised under Article 9 and the mezzanine foreclosure ramifications for the mortgage borrower, mortgage lender, and other parties to the transaction. Before commencing foreclosure, the mezzanine lender must review all relevant transaction documents, including UCC insurance policies. If the debtor "opted into" Article 8, the lender must locate the certificate. Counsel must understand the mortgage lender's rights and the rights of any senior mezzanine lenders, ground lessors, or other parties with interest in the underlying property. An intercreditor agreement will likely provide the most significant input into the timing and nature of remedies vis a vis other lenders. Article 9 provides that a public sale must be conducted in a "commercially reasonable" manner, with advance notice to all relevant parties under Sections 9-611 and 9-612. The public must have a "meaningful opportunity" for competitive bidding, requiring some form of advertisement or public notice preceding the sale. The location and manner of the sale should be appropriate to allow for public access to the disposition. Recent New York case law indicates that "commercially reasonable" may entail more stringent standards in light of foreclosure moratoriums and the continuing impacts of the pandemic on real estate properties. The mortgage may limit the transfer of ownership interests in the mortgage borrower to a "qualified transferee," generally defined as either the mezzanine lender itself or an institutional investor meeting specific requirements. This significantly restricts the potential universe of purchasers at a foreclosure sale, and the process of "qualifying" the winning bidder may inject uncertainty surrounding the ability of a buyer to close.
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Avoiding Title Claims in Your Real Estate Practice

Legal Education

Despite best intentions and practices, title claims are at times unavoidable. On other occasions, title claims are the result of negligence, unfamiliarity with a subject matter, or just plain fraud. This webinar will focus on the relationships between the closing agent, insured, underwriter and retained counsel, the most common types of claims and how they may be avoided, as well as an examination of the red flags of fraud most commonly seen by title insurance underwriters.
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