Strict application of the common law merger rule may no longer be viable; in Arizona, courts may look instead to the intentions of the parties Unless you spent the summer reading Ken Follett’s World Without End, you [...]

Landlords and tenants should be prepared to address issues that include security, lender and insurance concerns, objections from other tenants, lease termination, tenant improvements, payment, and impacts on CAM In November [...]

A recent ruling in a New Jersey case could add credibility to the argument that, in order to commence a foreclosure, the lender must possess the underlying promissory note Not long after the business phenomenon known as the [...]

A California ruling that a purchase agreement may be illusory, and thus unenforceable, during a contingency period may influence the Arizona courts in future cases There has long been debate among real estate attorneys as to [...]

Indirect benefits do not constitute consideration for purposes of the Gift Clause, Arizona high court rules Many in the real estate community have been awaiting the final decision regarding the CityNorth project. On January [...]

Many long-term commercial loan transactions are essentially non-recourse except for certain carve-outs or “bad boy” provisions – describing events which, if they occur, can create partial (or even total) personal [...]

For tenants without a written lease, a prudent approach for a lender or purchaser would be to provide the 90-day notice to vacate regardless of whether the tenant meets the “bona fide” requirements In May 2009, as part of [...]

Given the two statutes and the various considerations that must be taken into account, no strategy works every time The distressed residential real estate market has prompted some lenders to ask us about possible foreclosure [...]

What is a defeasance transaction, and why are we hearing so much about it lately? The concept of “defeasance” originated in the municipal bond market. In the 1990’s, the concept was adapted to the commercial [...]

Non-recourse borrowers may, through no fault of their own, find themselves on the hook for more than they had bargained for Like many states, Arizona allows real estate secured lenders to sue commercial borrowers personally [...]