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What is a right of first refusal clause in a real estate transaction? A right of first refusal, “ROFR,” may be considered a common clause seen in real estate agreements. But the effects of an ROFR can be quite harmful if...more
KEY FACTS OF REAL ESTATE ACQUISITIONS UNDER LATVIAN LAW - I. STANDARD FORMS OF AGREEMENT - A. Offer to Purchase sets forth Buyer's offer of price and date for closing. Seller may accept or reject. B. The purchase...more
The Chicago City Council recently established a Tenant Opportunity to Purchase program for rental buildings on the city’s northwest side. Billed by the city as an anti-gentrification measure, the program gives tenants a right...more
As of August 7, 2024, owners of for-rent affordable housing properties in Colorado consisting of five units or more and owners of for-rent market-rate multifamily properties in Colorado consisting of between 15 and 100 units...more
Under existing law in Montgomery County, Maryland, any time covered multifamily property is sold in the County, the County (acting through its Department of Housing and Community Development (DHCD)), the Housing Opportunities...more
KEY FACTS OF REAL ESTATE ACQUISITIONS UNDER LATVIAN LAW - I. STANDARD FORMS OF AGREEMENT - A. Offer to Purchase sets forth Buyer’s offer of price and date for closing. Seller may accept or reject. B. The purchase...more
On Friday, June 4, the Supreme Court of Appeals of West Virginia modified the “stranger to the deed” rule by holding in Klein v. McCulough, No. 19-0888, 2021 WL 2284071 (W. Va. Jun. 4, 2021) that the “stranger to the deed”...more
Summary - The new right of first refusal (ROFR) law in Howard County, Maryland, differs significantly from similar requirements in Prince George’s County and Montgomery County, Maryland, as well as the District of...more
Summary - Prince George’s County adopted revised regulations that expand the multifamily rental property right of first refusal provisions of County law....more
Real Property Update- Contracts: Escrow agent was bound only by the terms of an escrow agreement to which it was a party and not a purchase agreement to which it was not a party – Carter Dev. of Mass., LLC v. Howard, No....more
The Massachusetts Appeals Court recently issued a decision likely to pique the interest of property owners holding real property in nominee trusts. In Goodwill Enterprises, Inc. v. Kavanagh, the Court addressed whether the...more
The San Francisco Mayor’s Office of Housing and Community Development released its much-awaited Community Opportunity to Purchase Act (COPA) Program Rules on Monday, September 3, 2019. (The mayor signed COPA on May 3, 2019.)...more
The Mayor’s Office of Housing and Community Development (MOHCD) released program rules for the Community to Purchase Act (COPA) on September 3, 2019. The recently enacted COPA program (codified in Chapter 41B of the San...more
The Idaho Supreme Court provided important lessons to people who deal with rights of first refusal (ROFRs) on real property in its recent decision Mulberry v. Burns Concrete, Inc., No. 45184 (Idaho Feb. 21, 2019). A ROFR is a...more