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Mezzanine lenders looking to foreclose on their collateral have the advantage of being able to pursue remedies outside of court. But the process, which is described in the Uniform Commercial Code (UCC), is often ill understood and can seem daunting. In this article, we aim to simplify the process, explain the roles of lawyers and other professionals, and highlight some common strategies and pitfalls. What are Mezzanine Loans It's helpful to generally understand the types [...]

Whether or not there is a penalty for a contractor failing to finish on time depends on what the contract says about the completion date and what happens if construction is not completed by that date. Because the contracts are so very different in residential and commercial construction, I will address each separately. Penalties for Missing Completion Dates in Commercial Construction In Commercial construction, it is common to have a specific completion date and a penalty [...]

On August 29, 2024, the Financial Crimes Enforcement Network (FinCEN) of the U.S. Treasury adopted a final rule (the "Real Estate Rule") that will require professionals involved in residential real estate transfers to report information about the beneficial ownership of the transferee. The Real Estate Rule will be published at 31 CFR 1031.320 and will take effect on December 1, 2025. Background Illicit actors engage in non-financed transfers (including "all-cash" sales) of residential real estate [...]