Ron Reynolds was joined by Judy Dworkin, a Phoenix-based attorney with expertise on Arizona water law, to discuss and contrast Michigan and Arizona water law principles. The discussion included rights attaching to both surface water and groundwater, as well as the impact and significance of multi-jurisdictional agreements contained in the Colorado River Compact and the Great Lakes Compact.
Learn how Hilger Hammond helped win a case restoring a homeowner’s personal residence exemption (PRE) from real property taxes.
Learn the ins-and-outs of 1031 exchanges and how to maximize your tax savings in real estate.
Attorney Ben Hammond served as a panelist for the State Bar of Michigan "Real Estate Outlook 2022" webinar held on November 11, 2021. The panel discussed the state of the real estate market as the world continues the long process of reopening, and the legal and...
This article provides practical, win-win solutions for commercial landlords and tenants to resolve nonpayment concerns as the economy slowly begins its assent back to normalcy.
Common Ownership Issues in Family Cottages – Part I: Management Believe it or not, co-owning family cottages can create issues between the common owners. Seriously! These “issues” (which can sometimes decimate familial relationships) are typically concentrated into...
The Michigan legislature recently amended the Michigan Marketable Record Title Act via HB5611 to delay the time period for property owners and associations to record notices to preserve interests and use restrictions until March 29, 2024 – an extension of three years....
A Phase I Environmental Site Assessment, commonly referred to as an “ESA” or “Phase I,” researches current and historical uses of real estate as part of a commercial real estate transaction. A Phase I assesses whether previous real estate uses have impacted the soil...
Whether you are purchasing commercial property as an investment or to address the needs of your business, there are at least 5 “do’s” and 5 “don’ts” you are going to want to consider when negotiating the Purchase Agreement. The Purchase Agreement in many cases can follow a letter of intent, but letters of intent are most times non-binding. Careful attention must be paid to the terms and conditions of the Purchase Agreement as the details can greatly impact your risks and liability in the transaction.
Do #1: Make sure the property is properly described.
While this sounds obvious, many times errors are made by using tax property descriptions or old legal descriptions that don’t actually reflect the property being sold. This can lead to boundary disputes, zoning problems or worse when you go to sell the property.
Do #2: Allow for enough time for due diligence.
In today’s world of national and international investors and 1031 exchanges the timelines for “clean” deals can be extremely short. Twenty-one days may not be a sufficient amount of time to review the title work, obtain a Phase I environmental assessment, physically inspect the site, review any applicable tenant lease and understand the local zoning ordinances.
By Benjamin H. Hammond and Jill Kaufman Miller, Esq. Every real estate contract must, unless agreed to otherwise, convey what is known as “marketable title”. The courts have defined marketable title as title that is free from encumbrances and assures the purchaser of...