Cambridge Massachusetts Building Expert Directory

Foreclosure Deficiency: Construction Loan vs. Home Improvement Loan

November 12, 2019 — Kevin J. Parker - Snell & Wilmer Real Estate Litigation Blog
In a recent Arizona Court of Appeals case, Helvetica Servicing, Inc., v. Pasquan, 2019 WL 3820015, (8/15/19), the Court of Appeals addressed the distinction between (1) a construction loan (or refinance of same) and (2) a home improvement loan (or refinance of same), as it relates to Arizona’s anti-deficiency statute, A.R.S. §33-729(A). In general, an anti-deficiency statute provides that although a purchase-money lender or a construction lender can – in appropriate circumstances – foreclose on their loan and cause a sale of the property to pay the loan, the lender cannot (if the statutory criteria are met) force the homeowner/borrower to pay the remaining balance still owed on the loan following the foreclosure (known as the deficiency). In other words, if the anti-deficiency rule applies, the lender’s sole remedy to collect on the loan is a foreclosure sale of the property; and the homeowner/borrower’s downside risk is loss of the property in foreclosure; the homeowner/borrower does not have any personal liability to pay the remaining unpaid balance of the loan post-foreclosure. In effect, the homeowner/borrower can simply walk away and not have to repay the loan. Read the court decision
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Reprinted courtesy of Kevin J. Parker, Snell & Wilmer
Mr. Parker may be contacted at kparker@swlaw.com

Virginia Allows Condominium Association’s Insurer to Subrogate Against a Condominium Tenant

August 10, 2020 — Gus Sara - The Subrogation Strategist
In Erie Insurance Exchange v. Alba, Rec. No. 190389, 2020 Va. LEXIS 53, the Supreme Court of Virginia considered whether the trial court erred in finding that a condominium association’s property insurance provider waived its right of subrogation against a tenant of an individual unit owner. The Supreme Court reversed the lower court’s decision, holding that the insurance policy only named unit owners as additional insureds, not tenants, and thus the subrogation waiver in the insurance policy did not apply to tenants. The court also found that the condominium association’s governing documents provided no protections to the unit owner’s tenant because the tenant was not a party to those documents. This case establishes that, in Virginia, a condominium association’s insurance carrier can subrogate against a unit owner’s tenant where the tenant is not identified as an additional insured on the policy. The Alba case involved a fire at a condominium building originating in a unit occupied by Naomi Alba (Alba), who leased the condominium under a rental agreement with the unit owner, John Sailsman (Sailsman). The agreement explicitly held Alba responsible for her conduct and the conduct of her guests. An addendum to the lease stated that Sailsman’s property insurance only applied to the “dwelling itself” and that Alba was required to purchase renters insurance to protect her personal property. Along with the rental agreement, Alba received the condominium association’s Rules & Regulations, Declarations and Bylaws. Read the court decision
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Reprinted courtesy of Gus Sara, White and Williams
Mr. Sara may be contacted at sarag@whiteandwilliams.com

Drug Company Provides Cure for Development Woes

November 18, 2011 — CDJ STAFF

Vertex Pharmaceuticals is poised to become the holder of Boston’s biggest commercial lease, paying $72.5 million for 1.1 million square feet on Boston’s waterfront. Vertex’s new buildings are still under construction, but the plans have spurred other development in the Fan Pier area, according to the New York Times. The Times quotes Mary A. Burke, a senior economist at the Federal Reserve Bank of Boston that the Vertex project gives “a big push” to the “momentum for economic growth.”

The Fallon Company is building Vertex’s new laboratory and office space. They are separately planning to build a high-rise with 150 luxury condominium units. According to Joseph Fallon, the chief executive and president of the Fallon Company, there is already a waiting list of 50 buyers for the condominiums.

Across the street from the Vertex site, a group including Morgan Stanley and Boston Global Investors is planning a 23-block mixed use project that would include 1.2 million square feet of retail space. Additionally, the New England Development and the Hanover Group is building a 356-unit apartment building at the adjacent Pier 4.

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Forcible Entry and Detainer Actions: Courts May Not Consider Tenant’s Hardship

December 08, 2016 — Erica Stutman – Snell & Wilmer Real Estate Litigation Blog
If you own property and a tenant wrongfully refuses to vacate the premises (for example when the lease expires or after proper written notice of termination), you may have a quick and easy remedy to have the tenant removed. Arizona’s forcible entry and detainer (FED) statute allows a person to bring a speedy, summary action to obtain an order that the person must leave the property immediately. See A.R.S. § 12-1171 – 1183. To allow for quick resolution, the only question a court may consider in a FED action is who has the right of possession of the property. A.R.S. § 12-1177(A) (“On the trial of an action of forcible entry or forcible detainer, the only issue shall be the right of actual possession and the merits of title shall not be inquired into.”). Counterclaims and cross-claims are not permitted in a FED action, and must be addressed in a separate civil action between the parties. If factual questions bear on the right of possession, they will also need to be resolved in a regular civil action. Read the court decision
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Reprinted courtesy of Erica Stutman, Snell & Wilmer
Ms. Stutman may be contacted at estutman@swlaw.com

Engineer Pauses Fix of 'Sinking' Millennium Tower in San Francisco

September 13, 2021 — Richard Korman - Engineering News-Record
Engineers paused work for at least two weeks on the $100-million foundation upgrade for San Francisco's 645-ft-tall Millennium Tower high-rise residential condominium after measurements showed increased settlement during the installation of pile casings for the new piles. Reprinted courtesy of Richard Korman, Engineering News-Record Mr. Korman may be contacted at kormanr@enr.com Read the full story... Read the court decision
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Job Gains a Positive for Housing

October 15, 2014 — Beverley BevenFlorez-CDJ STAFF
The National Association of Home Builders’ Eye on Housing reported that there were 248,000 net jobs created in September, according to the Bureau of Labor Statistics (BLS): “August gains were revised from a disappointing 142,000 to a slightly better 180,000, while July’s tally was also revised from 212,000 to 243,000.” Furthermore, “September was a promising month for residential construction employment. The BLS data reveal that home builders and remodelers added 11,800 positions last month. Over the last year, residential construction employment has expanded by 129,000 jobs.” Read the court decision
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Nine ACS Lawyers Recognized as Super Lawyers

August 15, 2022 — Cassidy Ingram - Ahlers Cressman & Sleight
ACS is very honored and pleased to announce nine members of our firm were awarded the distinction of top attorneys in Washington. Our blog articles usually cover Construction Legal News, but we feel this is a newsworthy accolade to be shared with friends and clients. To become candidates to receiving the Super Lawyer nomination, lawyers are nominated by a peer or identified by research. After completing this first step in the process, Super Lawyers’ research department analyzes 12 indicators, such as experience, honors/awards, verdicts/settlements, and others. As for the third step, there is a peer evaluation by practice area. Finally, for step four, candidates are grouped into four firm-size categories. In other words, solo and small firm lawyers are compared only with other solo and small firm lawyers, and large firm lawyers are compared with other large firm lawyers. The process is very selective and only 5 percent of the total lawyers in Washington are nominated as Super Lawyers. Read the court decision
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Reprinted courtesy of Cassidy Ingram, Ahlers Cressman & Sleight
Ms. Ingram may be contacted at cassidy.ingram@acslawyers.com

Last Call: Tokyo Iconic Okura Hotel Meets the Wrecking Ball

August 26, 2015 — Komaki Ito & Andreea Papuc – Bloomberg
Tokyo’s iconic nod to Japanese Modernism, the Hotel Okura, will bid farewell to its last guests next week and face the wrecking ball, despite petitions from around the world to save it. The 1960s-era hotel, which has welcomed international dignitaries and inspired a throng of admirers eager for preservation, will close its doors Aug. 31 to make way for a gleaming new hotel rebuilt in time for the 2020 Olympics, at a cost of about 100 billion yen ($836 million). “What’s odd about the Okura is that it’s a perfect embodiment of ‘60s Modernism, and it represents that very first wave of new development in the region,” Tyler Brule, editor in chief of Monocle magazine, who spearheaded a campaign that included a petition with almost 9,000 signatures, said in an e-mailed response to questions. “For this reason alone, it deserves to be preserved.” Reprinted courtesy of Komaki Ito, Bloomberg and Andreea Papuc, Bloomberg Read the court decision
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CAMBRIDGE MASSACHUSETTS BUILDING EXPERT DIRECTORY AND CAPABILITIES