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
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
As a follow-up to our prior alert, here are some updates on legislative activities in the region...more
County Council President Evan Glass introduced Expedited Bill 38-23 to modify the Montgomery County, Maryland (County) right of first refusal (ROFR) law to permit the County to assign its ROFR rights to a “qualified entity.”...more
A right of first refusal is a contractual right to purchase property that arises when the owner decides to sell. The holder of a right of first refusal has a preference to purchase the property over other purchasers....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
Das BVerwG hat am 9. November 2021 über die Ausübung eines gemeindlichen Vorkaufsrechts im Geltungsbereich einer Erhaltungssatzung bzw. -verordnung in Berlin-Kreuzberg (Milieuschutzsatzung) entschieden (4 C 1.20). Dabei...more
The New York State rule against perpetuities is based on the common law rule and provides that “no estate in property shall be valid unless it must vest, if at all, not later than twenty-one years after one or more lives in...more
KEY FACTS OF REAL ESTATE ACQUISITIONS UNDER LATVIAN LAW - 1. Types of real estate - 1.1. Land estate - Consists of one or several land plots. 1.2. Land and building estate - Consists of one or several land...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