August 1, 2011 Tags: APARTMENT houses, CAPITALISTS & financiers, LEASES, REAL estate investment, REAL property acquisition, SUCCESS
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Lenders commonly hold two mortgages on the same property. Unknown to many lenders, if they foreclose one of the two, a court may deem the debts secured by both to have been satisfied. Courts will apply principles of merger, antideficiency statutes, one-form-of-action rules, and unjust enrichment to prevent the lender from recovering on both notes. This Article examines how such problems may arise when the lender forecloses either the senior or junior mortgage, and suggests ways to draft around the problem, or to avoid it through appropriate foreclosure strategies. [ABSTRACT FROM AUTHOR]
Read MoreSeptember 1, 2009 Tags: COMMERCIAL real estate, COMMERCIAL real estate loans, FORECLOSURE, LANDLORD & tenant, LEASES, LOANS -- Law & legislation, MORTGAGES, REAL estate investment trusts, REAL property, REPOSSESSION
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The article deals with the confirmation by several courts in the U.S. that lessees qualify as consumers in line with federal warranty statutes and lemon laws for consumers who are opting to lease their cars rather than buy. The provisions of the federal lemon law, the 1975 Magnuson-Moss Warranty Act are presented. It explores the rights of consumers to enforce warranties. Examples of court decisions which concluded that lessees qualify as consumers are given.
Read MoreJanuary 1, 2006 Tags: AUTOMOBILE leasing & renting, COMMERCIAL law, CONSUMERS -- United States, JUDGMENTS, LEASES, WARRANTY
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