Tag Archives: Real Estate

No More Than 10 Can Attend: Texas Executive Order Effectively Halts Public Foreclosure Sales

There is no question that the COVID-19 pandemic has prompted a swift and large-scale shift in the way real property transactions take place from “business as usual” to a state of limbo in most of the 50 states. In Texas, commercial real estate lenders and creditors have recently found themselves to be no exception when it comes to carrying out foreclosure sales. Executive Order GA-28 is changing, if not outright preventing, a valid foreclosure sale from taking place in Texas—at least for the time being.

To read the full text of this Duane Morris Alert, please visit the firm website.

New Jersey Makes $25M CARES Funds Available for Certain Small Landlords

On August 7, 2020, Governor Murphy announced the Small Landlord Emergency Grant (SLEG) Program, which will reimburse small residential rental property owners for lost rent revenue due to COVID-19 between April and July 2020. The program is structured to pass the benefit on to their tenants by requiring forgiveness of certain outstanding back rent and late fees.  The rent forgiveness is in exchange for landlords receiving these funds from the state

To read the full text of this post by Duane Morris partner Brad Molotsky, please visit the Duane Morris Project Development/Infrastructure/P3 Blog.

New Jersey Governor Murphy Announces Small Business Tenant Relief Program

On July 23, 2020, New Jersey Governor Murphy announced a new relief program for small businesses impacted by the COVID-19 pandemic. The Small Business Lease – Emergency Assistance Grant Program (SBL-EAGP) will allow businesses in 64 eligible municipalities to apply for grants of up to $10,000 for lease costs. The program will assist small business owners impacted by the COVID-19 pandemic, which also assists landlords, many of whom are also small businesses.

To read the full text of this post by Duane Morris partner Brad Molotsky, please visit the Duane Morris Project Development/Infrastructure/P3 Blog.

Force Majeure and COVID-19: Illinois Bankruptcy Court Rules That Force Majeure Provision Partially Excuses Rent Payments

The United States Bankruptcy Court for the Northern District of Illinois ruled that a force majeure clause in a commercial lease partially excused a restaurant tenant from paying rent during the period of the Illinois state executive order restricting dine-in restaurant operations. This decision is one of the first to test the application of a force majeure clause in the COVID-19 pandemic.

To read the full text of this Duane Morris Alert, please visit the firm website.

Pennsylvania Permits Reopening of Real Estate Businesses Per Published Guidelines

On May 19th, Governor Tom Wolf announced that businesses and employees in the real estate industry may conduct limited business-related activities statewide and provided guidance for this industry to operate in red phase and yellow phase counties.

To read the full text of this post by Duane Morris partner Brad Molotsky, please visit the Duane Morris Project Development/Infrastructure/P3 Blog.

Pennsylvania Plan Allows Reopening of Construction, Vehicle Dealerships and Real Estate Industry

While Governor Wolf extended the “Stay at Home” order until June 4, 2020, by amendment to his earlier order, he also updated guidance on opening businesses in Pennsylvania. Pennsylvania is employing a regional and industry-specific approach to reopening “non-life-sustaining” businesses.

To read the full text of this post by Duane Morris partner Brad Molotsky, please visit the Duane Morris Project Development/Infrastructure/P3 Blog.

California Assembly Bill 828 Would Halt Residential Foreclosures During COVID-19 Emergency – But Is It Enforceable?

If passed, California Assembly Bill 828 would prevent action to foreclose on a residential real property while a state or locally declared state of emergency related to COVID-19 is in effect, and for 15 days after the state of emergency has ended.

To read the full text of this Duane Morris Alert, please visit the firm website.

New Jersey Executive Order 128: Security Deposits May Be Used for Rental Obligations

Late last week (April 24, 2020), NJ Gov. Murphy signed Executive Order No. 128 (“EO”). The EO takes effect immediately and will remain in effect until the end of the public health emergency established by Executive Order No. 103 (2020). The EO applies in the context of residential leases (not commercial leases) and allows residential tenants to use their security deposit for the payment of rent.

To read the full text of this post by Duane Morris partner Brad Molotsky, please visit the Duane Morris Project Development/Infrastructure/P3 Blog.

Maryland Temporarily Prohibits Commercial and Industrial Evictions

Maryland Governor Lawrence J. Hogan issued Order Number 20-04-03-01 on April 3, 2020, which amends and restates an order previously issued on March 16, 2020, that, among other things, temporarily prohibits evictions of tenants suffering substantial loss of income due to COVID-19. The new order expands the coverage of the original order to temporarily prohibit commercial and industrial evictions.

To read the full text of this Duane Morris Alert, please visit the firm website.