In the world of lending if a business wants to secure financing, you will be hard-pressed to find a bank that is not going to require some collateral, including a personal guarantee of the debt by the principal owner(s) of the business. businesses don’t want to sign personal guarantees; it’s why businesses take on theContinue reading “Business Law Update: Court Lessons on Personal Guarantees.”
Category Archives: Real Estate
Business Law Update: Lessons From Court on Deadlock Between Business Owners.
This morning was rainy and gray in Grand Rapids. It is one of those days that prompted me to write on a topic that can be downright depressing – when relationships between shareholders go bad. I had a client come in recently and ask me to set up an LLC for him. Client planned onContinue reading “Business Law Update: Lessons From Court on Deadlock Between Business Owners.”
Real Estate Law Update – a Court Case Discussing Laches.
From a lawyer’s perspective, real estate disputes are often messy. The parties are often driven by emotion. The facts are often complex. Simply put – it is usually a mess. Often the doctrine of laches gets raised in such a lawsuit. A few years back I wrote a post about the legal (technically, “equitable”) doctr ineContinue reading “Real Estate Law Update – a Court Case Discussing Laches.”
Real Estate Investors and Property Managers Should Keep Track of this “Bed Bug Bill”
During the school year I mentor students at a local school in the West side of Grand Rapids. This school has a great supportive community behind it – as you can see from the photo I took a few years back. I recall a conversation with one student whose family was transient – moving quiteContinue reading “Real Estate Investors and Property Managers Should Keep Track of this “Bed Bug Bill””
Real Estate Investors: Update on Bill Allowing Single Member LLCs To Evict Tenants without Legal Representation
A common scenario in my legal practice: Investor purchases property in an LLC. Investor locates a tenant. Tenant falls behind in rent. Investor hires attorney to evict Tenant. Why hold real estate in an LLC? Most of my investor clients own investment real estate in a Limited Liability Company. This is for liability protection. OnceContinue reading “Real Estate Investors: Update on Bill Allowing Single Member LLCs To Evict Tenants without Legal Representation”
Warning for Real Estate Investors: Three Northern California Real Estate Investors Convicted of Rigging Bids at Public Foreclosure Auctions
There are many pitfalls for real estate investors who purchase distressed property. In today’s market, good deals are getting harder to come by. With distressed property becoming a scarce resource and competition ever increasing, some real estate investors have resorted to illegal acts to boost their profit. Investors should know that the Department of JusticeContinue reading “Warning for Real Estate Investors: Three Northern California Real Estate Investors Convicted of Rigging Bids at Public Foreclosure Auctions”
More Updates on Michigan’s Affordable Housing Crisis
Today is a beautiful day in downtown Grand Rapids. The photo below actually from yesterday. There is something about the sun that just puts me in a good mood. A few days ago I did not have a sunny disposition. I was in court during a landlord/tenant docket. I’ll be honest – it was a depressing scene. ManyContinue reading “More Updates on Michigan’s Affordable Housing Crisis”
News for Residential Real Estate Investors: DOJ receives Verdict against Landlord Disability Discrimination.
Here’s a profound truth those in the real estate industry will readily acknowledge: Owning and Managing Real Estate is uniquely challenging. I hear it from my Property Owner/Manager clients. I experience it when I am involved in negotiating in landlord/tenant disputes. I believe that is why, at least in West Michigan, there is an opportunity for goodContinue reading “News for Residential Real Estate Investors: DOJ receives Verdict against Landlord Disability Discrimination.”
Real Estate Law Update: Investors Purchasing at Foreclosure – Take Care in Handling Personal Property Left at the Property.
Today I am posting about a Court of Appeals case decided on April 25, 2017 – Suzor v Kamlay Foreclosed Property = high risk/high reward. Real estate investors are always wary of the many pitfalls when purchasing property at foreclosure. I’ve previously posted on problems when someone is still occupying the Property after foreclosure. The latest case talksContinue reading “Real Estate Law Update: Investors Purchasing at Foreclosure – Take Care in Handling Personal Property Left at the Property.”
Landlords/Investors/Property Managers: Single Member LLCs Could Evict Tenants without Legal Representation under House Bill
A common scenario in my legal practice: Investor purchases property in an LLC. Investor locates a tenant. Tenant falls behind in rent. Investor hires attorney to evict Tenant. Why hold real estate in an LLC? Most of my investor clients own investment real estate in a Limited Liability Company. This is for liability protection. Once aContinue reading “Landlords/Investors/Property Managers: Single Member LLCs Could Evict Tenants without Legal Representation under House Bill”
Purpose Driven General Counsel 