An interesting unpublished decision came out on June 27, 2013 – JPMorgan Chase Bank, N.A. v. First Michigan Bank, 309857, 2013 WL 3239983 (Mich. Ct. App. June 27, 2013). The case essentially involved a fight over whose mortgage had priority: Chase or First Michigan Bank. FACTS: JP Morgan Chase Bank and First Michigan Bank hadContinue reading “Lesson For Banks: When Fighting over Mortgage Priority – Don’t Forget about the Property Owner.”
Author Archives: jeshuatlauka
Closely Held Businesses: Why the Words You Use in Your Formation Documents Matter.
Another example demonstrating the significance of the words you agree to bind your business relationship. On July 3rd the Michigan Supreme Court came out with an (I think) interesting Order reversing an appellate Court decision, Levine v. O’Dorisio, 299639, 2011 WL 5609825 (Mich. Ct. App. Nov. 17, 2011) rev’d, 494 Mich. 874 (2013). FACTS:Continue reading “Closely Held Businesses: Why the Words You Use in Your Formation Documents Matter.”
Lesson from Court: Why an Employee Handbook Matters.
Recently I was in court for a hearing representing a business client being sued by a former employee. In that case, the former employee claimed it had a guaranteed contract for employment for a specific term. This provided an opportunity for me to highlight some brief, but key aspects of Michigan law and the importanceContinue reading “Lesson from Court: Why an Employee Handbook Matters.”
“Squatters Rights” – How Easy Is It To Acquire Property By Adverse Possession?
I had a client recently come to me about a concern about her boundary line – she was concerned that her neighbor’s actions towards her property might mean that he now owns the property. She raised a good question – how easy is it go gain property by adverse possession? The answerContinue reading ““Squatters Rights” – How Easy Is It To Acquire Property By Adverse Possession?”
Real Estate Transaction Mistakes: Consequences of Forgetting About “Dower” Interests
I was finalizing creating an easement agreement for a client of mine – a married couple. They reminded me of a recent case that I read this week, Zaher v Miotke, Docket NO. 307394 (March 28, 2013), concerning a married couple who forgot to include the spouse when he created an easement document. The case ofContinue reading “Real Estate Transaction Mistakes: Consequences of Forgetting About “Dower” Interests”
Shareholder Oppression? When Relationships In Closely Held Businesses Go Bad.
Yesterday I posted an encouraging statistic – that more business entities in Michigan have been formed in the last fiscal year than in years – since fiscal year 2005. That is encouraging news! It also reminded me that most of these new businesses are likely smaller closely held companies – typically either owned and operatedContinue reading “Shareholder Oppression? When Relationships In Closely Held Businesses Go Bad.”
Michigan 90-Day Foreclosure Moratorium – Set to Sunset June 30th? – Senate Says “Not so Fast”
I had indicated in a previous post that the 90 day moratorium on all foreclosures by advertisements in Michigan was set to expire on June 30th, 2013 – with no indication it would be extended. Well, the Michigan Senate HAS indicated it will be extended – to January, 2014 – in Senate BillContinue reading “Michigan 90-Day Foreclosure Moratorium – Set to Sunset June 30th? – Senate Says “Not so Fast””
Lesson From Real Estate Litigation: Disclose, Disclose, Disclose!
Currently I have a handful of real estate disputes that involve these common facts: 1. parties enter into a real estate transaction; 2. After the contract is executed; 3. the Buyer finds some condition in the Property that: a. was not, in buyer’s opinion, properly made known to them, and b. if it wouldContinue reading “Lesson From Real Estate Litigation: Disclose, Disclose, Disclose!”
Lessons from Court: Potential Pitfalls in Managing Your Own Investment Real Estate
I was in Court this morning representing a Property Management Company in an eviction proceeding. It is always unfortunate when a landlord/tenant relationship breaks down and results in legal action. unfortunate, but necessary at times. Some private investors in the real estate business think it is more cost-effective to evict tenants themselves – this isContinue reading “Lessons from Court: Potential Pitfalls in Managing Your Own Investment Real Estate”
Payments to homeowners wrongfully foreclosed on approach $2.2 Billion
$2.2 Billion in Payments to Homeowners According to the Office of Comptroller on Currency, More than 2.4 million checks related to the Independent Foreclosure Review have been cashed or deposited by homeowners who were wrongfully foreclosed on for nearly $2.2 billion through May 16, 2013. For more information, check out the OCC’s website at: http://www.occ.gov/news-issuances/news-releases/2013/nr-occ-2013-85.html Continue reading “Payments to homeowners wrongfully foreclosed on approach $2.2 Billion”