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Real Property

Crafting a Construction Contract To Protect the Owner

Friday, May 31, 2013

Proper negotiation, drafting and administration of a construction contract can provide a plethora of protections to a property owner. This article provides 10 practical pointers for ensuring, among other things, that the owner does not overpay, has access to all applicable remedies, is protected in case of payment or performance failure by other parties, and enjoys all the warranties for which it has bargained.

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The Seven Habits of Effective Loan Workouts

Friday, May 31, 2013

Stephen R. Covey's leadership principles, set forth in his book The 7 Habits of Highly Effective People, can be a paradigm for parties and their lawyers in the context of resolving commercial loan defaults. The habits articulated by Covey are applicable to both lender-parties and borrower-parties, and to their respective counsel. Attorneys can advise and lead clients to find creative solutions by following these seven principles.

A Standing Dilemma

Friday, May 31, 2013

While recent New Jersey appellate decisions purport to resolve any concerns and, in turn, streamline and expedite the foreclosure process for negotiable notes, legitimate debate remains and begs a closer review by the state Supreme Court.

Avoiding Consumer Fraud Liability In Contractor Collections Cases

Friday, May 31, 2013

New Jersey contractors seeking payment for their work — especially if it involves residential home improvements and most other types of noncommercial construction — face the intricacies of the Consumer Fraud Act.

What Happened to the Independent Foreclosure Review? What Happened to the Independent Foreclosure Review?

Thursday, March 14, 2013

The Office of the Comptroller of the Currency abruptly announced on Jan. 7 that it was ending the Independent Foreclosure Review of the mortgage servicing practices of 11 of the largest mortgage servicing companies in favor of an $8.5 billion settlement.

Reinstatement of Accelerated Commercial Mortgage Loans

Thursday, March 14, 2013

When payments from a borrower are late, the mortgage holder takes notice and begins to consider its remedies. The borrower, however, typically doesn't retain counsel until an acceleration letter is received, or until a summons in a mortgage foreclosure action is received. This article will demonstrate how Benjamin Franklin's adage about an "ounce of prevention" applies to the reinstatement of an accelerated commercial mortgage loan.