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Commission of 'Waste' Can Trap Unwary Borrower

Wednesday, November 18, 2009

By Jeffrey B. Steiner and Zachary Samton

Jeffrey B. Steiner, a member of DLA Piper, and Zachary Samton, counsel to the firm, write that borrowers need to consider the relative risks carefully when deciding whether to cease paying real estate taxes or take other actions which might constitute a form of economic waste and must be careful that such actions do not trigger personal liability under a non-recourse carve-out guaranty.

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Realty Law Digest

Wednesday, November 18, 2009

By Scott E. Mollen

Scott E. Mollen, a partner at Herrick, Feinstein and an adjunct professor at St. John's University School of Law, analyzes recent decisions, including a question of liability for a sidewalk ramp on an abutting propert and another case involving a contractor caught between parties in a divorce who own the home he has been renovating.

Free With Registration: Marketplace

Wednesday, November 18, 2009

By Justin Smulison

The City of New York is buying three waterfront parcels totaling 6.9 acres in Coney Island from Thor Equities for $95.6 million as part of a plan to revive a legendary entertainment area that has fallen on hard times. Also, Volkswagen Group of America, Inc., has purchased the former Potamkin General Motors showroom at 798-804 11th Ave. at 56th Street for $84 million.

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