Tag Archives: real estate

ILN Today Post

MARKET BOOM IN THE WAKE OF NEW LBTT RATES

BACKGROUND

‘Unprecedented’ is surely the word of choice this year.  In a matter of months, coronavirus has redefined the way we work, live and interact with one another.  The various restrictions imposed to try and reduce the spread have profoundly impacted the global economy and things are almost certain to get worse before they improve.  In the midst of all of this, there is, however, some cause for optimism in the residential property market in Scotland where there has been a sharp rise in house prices with few properties staying on the market for long before successful sales are achieved. Read more…

Read full article

Landlords Should Reconsider Mitigating Damages with COVID-19 Relief Programs

By Sydney Warshaw, from our Business Law Practice Group

August 7, 2020 — A series of recent Superior Court decisions demonstrate that participation in the federal government’s financial relief programs to help tenants and landlords in the wake of COVID-19 may not be as discretionary as landlords initially thought.

Read full article
ILN Today Post

Massachusetts Governor Extends Moratorium on Evictions and Foreclosures Due to COVID-19 Pandemic

On July 21, 2020, Governor Charlie Baker extended the current moratorium on evictions and foreclosures during the COVID-19 pandemic for an additional sixty (60) days, until October 17, 2020. That moratorium was set in “An Act Providing for a Moratorium on Evictions and Foreclosures During the COVID-19 Emergency” (the Act), signed into law on April 20, 2020, and was due to expire August 18, 2020. The Act provided the Governor with the authority to postpone the expiration date in increments up to 90 days.

Read full article
ILN Today Post

CAN SUSUPENSION OF RENT DUE TO LOCKDOWN BE CLAIMED BY A LESSEE?

Judgment: Ramanand & Ors. Vs. Dr. Girish Soni & Anr. [CM APPL. 10847/2020]

Forum: Hon’ble High Court of Delhi (“DHC”)

Judgment delivered on: May 21, 2020

Act/LawIndian Contract Act, 1872 (“ICA”) and Transfer of Property Act, 1882 (“TPA”)

Read full article
ILN Today Post

CANADA EMERGENCY COMMERCIAL RENT ASSISTANCE UPDATE: RELIEF IS ALMOST HERE, BUT WILL EVERYONE PLAY BALL?

General Update

On May 1, 2020, the Canada Mortgage and Housing Corporation (“CMHC“) provided its update on the Canada Emergency Commercial Rent Assistance program (“CECRA“) as the body charged with CECRA’s implementation and administration1. On May 14, 2020, additional details were provided by CMHC on eligibility for the program and on the application process2. On May 19, 2020, CMHC provided guidance on how the application process will proceed, and provided sample documents for commercial property owners to review in advance of the application portal opening in mid-May 20203. Further, CMHC has included reasons compelling landlords to apply for the program (as it has not been generally well-received by landlords) including, but not limited to, the lack of rental income for a landlord if a tenant cannot afford to pay its rent (i.e., 75% of rent is better than nothing) and the costs of finding new tenants.

Read full article
ILN Today Post

Key takeaways from the Economic Package announced by Union FM

Prime Minister Shri Narendra Modi announced Rs 20 lakh crore fiscal stimulus equivalent to 10 per cent of India’s GDP to deal with COVID-19 situation in the country, the Union Finance Minister Nirmala Sitharaman announced the following changes in the various other sectors to promote the motto of Self Reliant India and boost the economic status of the Country.

Read full article

Co-ownership in the Time of COVID-19

By Nicolas Melillo, from our Insurance Law Practice Group

May 18, 2020 — Following the state of health emergency decreed by government, and in accordance with the health measures that have been progressively imposed, condominiums have adopted measures alongside the government’s instructions.

Read full article
ILN Today Post

CONDOMINIUM MEETINGS — BILL 190 AND AMENDMENTS TO CONDOMINIUM ACT, 1998 — MAY 13, 2020 UPDATE

On May 12, 2020, the provincial legislature approved (temporary) amendments to the Condominium Act, 1998 (the “Act“) as part of Bill 190, the “COVID-19 Response and Reforms to Modernize Ontario Act, 2020“. Read the full article.

Read full article
ILN Today Post

Massachusetts Debt Collection Ban Stricken Down

In a decision with implications for condominium collections in Massachusetts, the U.S. District Court in Massachusetts on May 6, 2020 issued an order prohibiting the State Attorney General from enforcing parts of the March 27 emergency regulations restricting consumer debt collections during the COVID-19 state of emergency. As discussed in our April 7, 2020 client alert, those regulations banned debt collectors from calling debtors and initiating “collection lawsuits.”

Read full article
ILN Today Post

Government suspends evictions and launches, and freezes rental fees in face of the current state of emergency.

Executive Order No. 145 of 1st May, 2020 suspends evictions and launches, and freezes rental fees during the state of emergency.

You may access the decree here

Read full article