Reciprocal easement agreements (REAs) are necessary documents to address access rights for adjacent development, shared utility infrastructure, the construction, maintenance, and repair of shared components, and the allocation of costs for such shared components. In recent years, REAs and commercial leases also have presented unique challenges to the repurposing of shopping centers and addressing shared spaces affected by emerging technology, such as parking areas.
Our program will provide a framework for the drafting of reciprocal easements. The panel will provide information on relevant provisions to include in reciprocal easements depending upon the context of the project, including allocating development rights and encroachments into air space related to the development of the property.
Listen as our authoritative panel of practitioners discusses best practices for drafting and negotiating complex easement agreements. The panel will discuss reciprocal easements in commercial developments such as mixed-used and retail projects, as well as issues involved in restrictions on airspace.
The aftermath of the Surfside condominium collapse is one of the most unspeakable tragedies in condominium history. As investigators continue to search for the cause or causes of the collapse, it is natural to search for solutions on how future building collapses or other disasters can be prevented. It is unlikely that there will be a "single" identifiable cause of the condominium collapse. Rather, the collapse was likely caused by a multitude of factors.
Counsel for HOAs should consider reviewing policies and actions of the condominium association's board of directors. Most states provide various protections for volunteer directors of a nonprofit corporation and only require that a director must discharge their duties in good faith, with the care of an ordinarily prudent person, and in a manner that they believe is in the best interests of the corporation. Directors should ensure that their articles of incorporation and condominium bylaws are updated so volunteer directors are appropriately protected from liability. Similarly, volunteer board members should consult with insurance agents to ensure that appropriate directors' and officers' insurance is in place.
Boards will want to examine inspection and engineering reports and communicate those findings to co-owners to determine the advisability of proceeding with repairs. Counsel should advise condominium board members to act on the advice that is received. Boards need to budget properly and realize that sometimes difficult choices need to be made, which may involve assessment increases that will not be popular with co-owners.
Some condominium documents require the condominium association to perform an annual inspection of the major common elements. While hiring professionals to perform inspections costs money, amending your condominium bylaws to require mandatory inspections may not be a bad idea. Similarly, while reserve studies are a best practice, there is nothing preventing a condominium association from amending their condominium bylaws to require that reserve studies or structural engineering inspections be performed on a regular basis. While condominium and homeowner association acts may not impose minimum insurance requirements, boards should consider reviewing coverage and increasing limits based on current risks.
Listen as our expert panel discusses best practices when advising boards on repairs, inspections, and engineering recommendations for condominiums in order to avoid future disasters.
Housing issues are one of the topics that concern a great number of people across the country, and one of most often talked about issues within state governments across the country. The Uniform Law Commission is an organization that provides states with non-partisan, well-drafted model legislation meant to bring clarity and stability to critical areas of state statutory law. URLTA focuses on the rights and duties of residential landlords and tenants. This material will discuss the National Conference of Commissioners on Uniform State Laws, the history of the Act, and recent changes to the Act, as well as cover what states have adopted the act.
The realities facing the US housing market now and in the next few decades (and how to secure your investments through all market ups and downs), The pros and cons of investing in single-family versus apartments (and how to determine which is the right move for you) and The multifamily life cycle from start to finish (and how to avoid common investor pitfalls in each stage)