The tenancy-in-common (TIC) has survived into modern times as a method of concurrent ownership of real property. In a TIC, each owner is referred to as a tenant-in-common, and each owns a fractional interest of real property under a separate distinct title.1 TIC's are common where the co-owners are not married or have contributed different amounts to the acquisition of a property.2 Insofar as each tenant-in-common owns an undivided interest in the entire property, each is entitled to an undivided interest in the revenues from the property, subject to the rights of the other co-tenants.
It's no secret that some 20 major brick & mortar retail chains are on the financial ropes, rating agency downgrades are prevalent, and just last week J.C. Penney announced the closure of 140 stores and two major distribution centers. Just three weeks ago, I was called to discuss analyzing the real estate holdings of a major department store chain; on the other line, a hedge fund that wanted to buy the debt of the chain, but was fearful of how the real estate could be reused. And of course, internet shopping trends continue to batter the brick & mortar model. On Black Friday, internet based shopping actually eclipsed purchases made by consumers in stores.
Experts in the emerging field of data analytics now provide attorneys with powerful new tools to transform and evaluate 'data dumps' exchanged during legal discovery. While many national-scope firms have developed in-house data analytics skills, regional and local firms now also have full access to third party state-of-the-art processing algorithms and optical scanning software that convert paper images to analyzable data. Over the past five years, refinements in data analytics techniques and document review software have moved to the forefront of litigation support to dramatically change the landscape of discovery. To improve case outcomes, outside experts in data analytics look to: 1) get more out of the available case data, 2) reduce human error and risk, and 3) save 30-70% (or more) in costs and time. Several examples below illustrate the case for advanced analytics.
This article can help prevent a law suit arising over the interpretation of the terms "broom clean" and "normal wear and tear" at the early stages of drafting a lease agreement. If the lease is already in effect with these ambiguous terms, then this author offers a suggestion to prevent a conflict after the tenant moves out.
Tenants, visitors and vendors who enter upon commercial properties (office buildings, retail centers, apartment communities, industrial buildings, etc.) are entitled to the presumption of safety when traversing public spaces. They should, and do, expect that the owner of that property, by making it accessible to the public, will maintain the property (parking areas, lobbies, hallways, grounds, pools and the walkways that connect these elements) to a reasonable standard of care.
Selecting an expert witness requires a thorough understanding of the issues in the case, as well as the type of experts that may be required to provide clarity of the issues for the finder of fact. Some areas of practice, such as land use and real property litigation, often involve added dimensions of complexity in evaluating and planning for expert testimony. Litigation varies widely from case to case, but the attorney's challenge remains the same: putting together expert testimony to clearly articulate the relevant facts and the conclusions that should be drawn from the facts. Con siderations that go into properly evaluating the need for expert testimony, including selecting and managing the experts, can be among the most critical aspects of successful trial preparation.
While it is true that the National Housing Act of 1930 and other acts and organizations sought to both foster and insulate housing from the overall financial marketplaces, such separation is not limitless. No matter how many special authorities, administrative agencies, or segregated financial institutions are created, in order to supply adequate shelter, the financial instrumentation utilized in the housing market is still an integral part of the overall financial marketplace. Ask any American who was born after D Day and they will presume that available and adequately priced shelter is theirs for the asking.
Throughout the country, real estate agents are celebrating the wonders of sending contracts and disclosures to their clients electronically. The paperless transaction has become an admirable and reachable goal with the unintended side effect of increasing risks in real estate transactions.
Much of an individual's success as a real estate broker or salesperson is built on the good reputation he or she develops with buyers, sellers, affiliates and other licensees. Staying on a steady course, however, is not as easy as it seems. In fact, licensees may actually lose business, particularly with sellers who do not want their agent to disclose everything he or she knows about the subject property.
Licensees cannot practice real estate in a vacuum; knowledge of real estate laws, codes of ethics, agency relationships and disclosures all merge together to give them the basis from which they may effectively practice their craft and continue to build competence and confidence.