Tag Archives: real estate

ILN Today Post

Restrictive covenants; do they mean I can’t redevelop my property?

Developers often identify land that looks good for development on the face of it, only to discover that there are restrictive covenants preventing the land from being developed or used in the way they would like. This can be incredibly frustrating; especially where the restrictive covenants are historic and the interests they seek to protect appear to be of limited modern relevance.

In this article I will explore what a developer can do when confronted by such a restrictive covenant. I have used “beneficiary” to describe the party with the benefit of the restrictive covenant and “you” to describe the developer.

Read More

Read full article
ILN Today Post

Block-insurance-buster

Block insurance policies are a very common way of insuring multiple properties. Landlords can benefit from economies of scale and may find the administration easier with only one renewal date and uniform terms. However, earlier this year the Upper Tribunal held that one landlord could not recover its block policy premia, despite being permitted to do so under the terms of its lease, because the premia were not “reasonably incurred”.

Read More

Read full article
ILN Today Post

Managing Partners Selected as 2018 South Florida Power Leaders

Shutts & Bowen is pleased to announce that partners Joseph M. Goldstein, Arthur J. Menor and Francis E. Rodriguez have been selected as South Florida Power Leaders by the South Florida Business Journal. This year’s list reflects a “dynamic regional marketplace” and highlights leaders from South Florida’s private, public and civic sectors who have steered their companies to prosperity and helped the region thrive.

Read More

Read full article
ILN Today Post

Billion Dollar Career in Luxury Residential and Commercial Deals

With just over a week left in 2017, Leo G. Aubel of Howard and Howard Attorneys PLLC was busy closing some $50 million in luxury residential and commercial real estate deals. At 200 transactions a year, Aubel estimates he is well over $1 billion in residential real estate transactions for his career so far. The total may well have surpassed $2 billion with commercial real estate deals added in, he says.

Read More

Read full article

ILN Announces Second Edition of “Buying & Selling Real Estate: An International Guide”

The ILN’s Real Estate Group is delighted to announce today the release of the second (and updated) edition of their guide, “Buying & Selling Real Estate: An International Guide.” This collaborative electronic guide offers a summary of key real estate law principles in 18 countries across the globe, serving as a quick, practical reference for those establishing an entity in these jurisdictions. In 2017, we have added seven new jurisdictions, which includes Argentina, the Bahamas, Brazil, Chile, India, the Netherlands, and Michigan. The group continues to work collaboratively to update the guide with the latest figures and regulations for their countries, and we’re really excited to provide this valuable resource for firms and companies with multinational business needs.

Read full article
ILN Today Post

Car parking: display or pay!

Summary

The owner of a shop claimed rights to park on an adjoining car park on the basis that it had acquired rights to do so over a period of 20 years’ use. As the car park owner had maintained clearly visible private car park signs, these were indicative of its continuing objection to unauthorised parking and were enough to stop the shop owner acquiring rights.

Facts of the case

The issue arose in a Court of Appeal case[1] relating to a dispute between the owners of a fish and chip shop and an adjoining social club.

Read More

Read full article
ILN Today Post

Hvilke omkostninger kan reducere en salgspris på en ejendom?

Beskatningen af fast ejendom er i Danmark reguleret af to regelsæt, nemlig enten ejendomsavancebeskatningsloven eller en ældre bestemmelse, der giver mulighed for næringsbeskatning. Næringsbeskatning foreligger alene, hvis man har som virksomhed at handle med fast ejendom. Har man ikke som virksomhed at handle med fast ejendom, sker beskatningen af fast ejendom efter ejendomsavancebeskatningsloven (EBL).

Read More

Read full article
ILN Today Post

Major change to the taxation of commercial property

Radical changes to the taxation of UK real estate were announced in the autumn Budget.

Investment into UK real estate has long had a privileged status, especially for investors based overseas. But over the last few years those tax privileges have been whittled away.

Two years ago the UK extended Capital Gains Tax to individuals and closely held companies owning UK residential property. Last year the UK tax code was amended to make sure that profits from development of UK land were taxed wherever they arose. And in this year’s Budget the Government has announced that with effect from April 2019 offshore investors will pay Capital Gains Tax on their profits from UK commercial real estate.

Read More

Read full article

Legislature Passes More Stuffing: Budget Bill Contains Change to Massachusetts Condominium Statute

While the rest of us were planning for Thanksgiving and Black Friday, the Legislature in early November was busy stuffing a supplemental budget bill with its own surprise gifts. Of interest to condominium associations and unit owners, buried in the bill was an amendment to Section 10(c) of the Commonwealth’s condominium statute, Mass. General Laws Chapter 183A. The amendment creates a new requirement that minutes of condominium meetings “be made available to unit owners through electronic mail upon request.”

Neither the statute in its prior form nor the amendment requires that minutes be kept. However, any minutes kept must now not only be made “available for reasonable inspection” by unit owners and mortgagees, but they must also be emailed to unit owners who request them. This requirement applies to minutes from both unit owner and board meetings. 

Read full article
ILN Today Post

Rentcharges – historic but current

What are they?

Rentcharges are any annual or other periodic sums charged on land, except rent reserved by a lease or any sum payable by way of interest.  If they remain unpaid, there could be disastrous consequences even if payment has not been demanded.

They were common in the 19th century in Manchester, Bristol and Bath where freehold owners sold properties to developers for less than market value in return for the developers paying an annual rentcharge. They were also used as part of imposing covenants on land.

Read More

Read full article