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In Arizona and other states, the adage “possession is nine-tenths of the law” can become a reality when real property is controlled or used by someone other than the true owner. Possessing real property – whether acting as the owner of the property or simply using someone else’s property without permission – can cause the […]
During the Great Recession, the delinquency rate for commercial real estate loans peaked in the second quarter of 2010 at 8.76%.1 Fallout from the current pandemic may dwarf that number. If debt service ratios are reviewed after April 2020, a significant number of loans will be in technical default as tenants request abatement or deferral […]
On March 24, 2020, the Governor issued an Executive Order effective at least until July 23, 2020 preventing law enforcement officers and constables from enforcing eviction orders on residential property unless there is a showing to the Court that in the interest of justice, or there is a material breach of the rental agreement (ARS […]
A Developer’s Duties Land developers starting residential subdivisions that have covenants, conditions & restrictions (CC&Rs) and a homeowners association (HOA) have extraordinary influence over the long-term value of the communities they create. Because the CC&Rs often give developers almost total control over a subdivision, the law imposes certain duties on them. Among these are the […]
A damage and destruction clause in a commercial lease outlines the rights and obligations of both the landlord and the tenant in the event that the leased premises are damaged or destroyed during the lease term or any extension or renewal thereof. The following duties and obligations are typically addressed in the damage and destruction […]
Eminent Domain Catalina Foothills Unified School Dist. No. 16 v. La Paloma Property Owners Ass’n, Inc., — Ariz. —, 726 Ariz. Adv. Rep. 34 (App. 2015): In 1994, Catalina Foothills Unified School District No. 16 (the “District”) acquired property from La Paloma Property Owners Association, Inc. (“La Paloma”) in a stipulated eminent domain judgment (the […]
Every residential landlord in Arizona needs to know the ins and outs of the Arizona Residential Landlord and Tenant Act, a series of laws designed primarily to protect residential tenants. Failing to comply with these laws can affect a landlord’s rights and, even worse, could leave a landlord defending a lawsuit if certain actions are […]
In any economic downturn, opportunities present themselves. One such opportunity is the purchase of foreclosed property. The amount of Trustee Sale Notices and properties sold at auction increased six-fold in Pima County between August 2006 and August 2010. Due diligence necessary to purchase foreclosed property generally requires obtaining some kind of title report to learn […]
Buyers’ Real Estate Agents Obliged to Tell Sellers of Foreseeable Risks On December 13, 2000, the Arizona Supreme Court ruled that a buyer’s real estate agent may be liable for failing to inform the seller that the buyer might be unable to make all the payments because of financial difficulties. [Lombardo v. Albu, 14 P.3d […]
Below is a list of certain terms that frequently appear in commercial leases, but have meanings that may be misunderstood or misinterpreted, thus deserving of a second look. Absolute Net This requires the tenant to pay, in addition to base rent, all costs associated with the operation, maintenance and repair of the building, all real […]
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