 |
|
|
|
|
| Real Estate Finance & Development |
Long-Awaited REIT Revisions Enacted - 09/08
September 22, 2008
Frank A. Crisafi
Michael K. Rafter
On July 30, 2008, President Bush signed into law the “Housing and Economic Recovery Act of 2008,” which liberalizes some of the tax rules governing real estate investment trusts (REITs) proposed by NAREIT in 2007. View the attachment above for a summary of certain provisions of the Housing Act.
|
|
D.C. Sponsors "Green Roof" Projects - 11/07
Real Estate
November 20, 2007
The District of Columbia, in conjunction with the Environmental Protection Agency, continues to promote and subsidize "Green Rooftops" for the District's new and existing buildings. Installing vegetative roof systems, in place of traditional roofing, helps to mitigate the strain on the District's failing sewer system, safeguards natural water resources, and provides cost savings for individual buildings and the community.
|
|
Do You Know if You Are Transacting Business with Terrorists? - 07/05/06
Real Estate Development & Finance
July 5, 2006
Every American has heard about the USA Patriot Act, and many people have heard of the terrorist watch lists. For persons involved in "real estate closings and settlements" (which may be broadly interpreted to include leasing and other real estate activities), compliance with the Patriot Act is still a futuristic obligation because the U.S. Treasury Department has not yet promulgated those regulations. The prudent real estate practitioner should remain vigilant, however, because regulations for "persons involved in real estate closings and settlements" are expected to be available in 2006. However, persons involved in real estate (and all other U.S. persons) may not be aware that they are already subject to Executive Order 13224 and its amendments.
|
|
Trends in Urban Redevelopment - 06/26/06
Real Estate Development & Finance
June 26, 2006
Atlanta, like other cities throughout the country, is undergoing significant transformation due to real estate development projects in its urban neighborhoods. This transformation is called many things, including transition, urban renewal and gentrification. Despite the name used or the debate over its social consequences, this redevelopment is changing the urban landscape as cities attempt to revitalize downtown districts and combat urban neglect.
|
|
"All Appropriate Inquiries"—EPA Alters Standards for Environmental Due Diligence - 06/21/06
Real Estate Development & Finance
June 21, 2006
Joan B. Sasine
Christopher A. Thompson
Laura A. Williams
On November 1, 2005, the U.S. Environmental Protection Agency ("EPA") announced a rigorous final rule on "Standards and Practices for All Appropriate Inquiries" (the "AAI Rule"). The rule, which takes effect in only five short months—on November 1, 2006—sets minimum requirements for environmental due diligence for purchasers of property who seek to avoid liability for environmental issues. The final AAI Rule will have a wide impact, affecting almost all commercially-related purchases of land.
|
|
Recent IRS Rulings Affecting REIT Taxation - 04/28/06
REIT/Real Estate Capital Markets
April 28, 2006
Frank A. Crisafi
Michael K. Rafter
The Internal Revenue Service ("IRS") recently released two Private Letter Rulings ("PLRs") addressing the tax treatment of certain items that may have tax implications for some Real Estate Investment Trusts. While a PLR does not bind the IRS except with respect to the taxpayer who requested the ruling, it does serve as a guide line on how the IRS would treat situations similar to those addressed by the ruling.
|
|
The Landowner's Bill of Rights and Private Property Protection Act - 04/14/06
Business Litigation & Arbitration
April 14, 2006
Before the summer of 2005, most Americans had little concept of eminent domain and even less of an idea of how Georgia law governed or guided the takings process. Now, thanks to the valiant efforts of Suzette Kelo, such terms are common water-cooler and cocktail party conversation topics. State legislators and their constituents around the country are fully engaged in the property rights revolution. Georgia is one of the first states to pass eminent domain reform.
|
|
Georgia Supreme Court Clarifies When A Real Estate Broker Is Entitled To A Commission Under Georgia Law - 03/22/06
Real Estate
March 22, 2006
The Georgia Supreme Court has clarified the question of when, under Georgia law, a real estate broker is entitled to a commission.
|
|
Business and Tax Considerations in Buy-Sell Agreements - 05/20/05
Tax
May 20, 2005
Anthony R. Boggs
Kimberly E. Civins
Frank S. McGaughey, III
Buy-sell provisions contained in buy-sell agreements, shareholder agreements and similar documents involve contractual undertakings between business owners or other interested persons in a closely-held business. These provisions plan for the various events which might trigger the necessity or desirability of the sale or purchase of an owner's interest in the business.
|
|
Zero Percent Capital Gains Tax Rate Extended - 10/04
Tax & Real Estate
On October 4, 2004, the President signed into law the Working Families Tax Relief Act of 2004. This new law contains provisions extending the zero percent capital gains tax rate that applies when certain qualifying property located in a D.C. Enterprise Zone is sold. The qualifying capital gains are "taxed" at a zero percent capital gains rate. This opportunity to sell appreciated property while not paying Federal or D.C. taxes on the qualifying capital gains is an opportunity for all clients who have invested, or are interested in investments, in the District of Columbia. Generally, this applies to stock ownership of D.C. corporations, partnership interests in D.C. partnerships, and real estate located within the District (hereinafter collectively "Property").
|
|
Several Courts Find That Letters Of Credit Which Were Used To Secure Lease Obligations Under Real Property Leases Are Subject To The Damages Cap Under 11 U.S.C. § 502(B)(6) - 09/13/04
Bankruptcy & Real Estate
Wendy L. Hagenau
|
|
Congress In a Hurry: Sarbanes-Oxley Act Passed and Signed by President Makes Sweeping Changes to U.S. Securities Laws - 07/02
Corporate Compliance
During the past week, Congress enacted, and the President has now signed, the Sarbanes-Oxley Act (the "Act"), which is the most sweeping securities legislation since the 1930s. Our Firm has been monitoring this legislation closely, along with other developments regarding corporate governance, disclosure, and the securities and accounting industries. Many portions (click here) of the Act may be effective immediately.
|
|
|
|
|
|
|
|
