Effective July 1, 2024, Virginia has implemented several significant changes to its real estate laws. In this year’s installment, tenants get a whole lot of protections (kind of), HOAs are put on a tighter leash, and brokers have to play by some new rules. Out of the 3,594 bills and resolutions considered by the General Assembly during the 2024 session, only 838 of them were signed into law by the Governor. Of those 838, the […]
New York City’s hotels are a critically important component of the city’s tourism and business industries. However, on July 18, 2024, 26 members of the New York City Council introduced Int. 991-2024 (Int. 991) without meeting with hotel owners and operators or making any attempt to understand the cost and complexity of owning, operating or financing hotels in the nation’s largest city. On Aug. 5, 2024, Int. 991 was modified and the number of […]
Does a seller of commercial real estate really need an attorney? I get asked this question often, and the resounding answer is “yes!”
Often, sellers of commercial real estate assume they can rely on the buyer’s attorney or broker to represent their interests. However, it is imperative for sellers to procure their own attorney, partly due to the complex nature of such transactions. If a seller engages an attorney early in the process, the attorney […]