Description
In addition to the CARES ACT, the Consolidated Appropriates Act of 2020, and separate federal and state orders, there remain provisions and programs that will immediately impact real estate owners, developers, and managers. The CARES Act and several states have offered income assistance by increasing unemployment benefits and providing a direct cash payment to most Americans. Counsel will need to guide clients and businesses on the requirements attached to CARES and state funding and the impact of government relief on rent collection.
Counsel must also know how these conflicting laws and regulations may affect borrowers with certain federally-backed mortgage loans. Property owners of both single and multifamily properties have the right to request forbearance on their loan due to financial hardship from the COVID-19 emergency. However, limitations on that right do apply. Borrowers must be aware of the limits and requirements for the forbearance period.
Counsel should advise landlords of property with federally-backed mortgages that the CARES Act and other federal and state orders grant a moratorium on eviction of tenants while the landlord is in forbearance. In the evolving financial and legal climate, counsel must ascertain and advise clients and businesses of other restrictions on legal action by landlords, including limits on evictions for properties covered under the Violence Against Women Act of 1994 or specific rural housing voucher programs.
Listen as our expert panel provides details on navigating the impact of the CARES Act on the real estate industry and addresses the practical concerns of property owners, landlords, and tenants in this current environment.
Presented By
Mr. D’Angelo represents high-end fashion brands, media conglomerates, multinational corporations, owners, developers, condominiums and cooperative boards, politicians, and celebrities on complex real estate disputes, civil cases, securities litigation, and white collar criminal matters. He also counsels his clients on general corporate governance, labor and employment issues, transactional matters, and lobbying efforts. Mr. D’Angelo is a trial attorney with extensive experience in high-stakes litigation in state and federal courts throughout the country, as well as internationally. Mr. D’Angelo regularly writes and contributes to the education and development of the law.
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This 90-minute webinar is eligible in most states for 1.5 CLE credits.
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Date + Time
- event
Thursday, July 8, 2021
- schedule
1:00 p.m. ET./10:00 a.m. PT
- CARES ACT and CAA
- Financial assistance for real estate businesses
- Residential property relief
- Rent and loan obligations
- Eviction moratorium
- Lease negotiation practical issues
- First, look to the language of the lease
- Landlord perspective
- Tenant perspective
- Impact of state and local law
The panel will review these and other highly critical matters:
- The CARES Act and CAA impact on income and any limitations placed on government stimulus or unemployment benefits
- The procedures, requirements, and limits on foreclosure forbearance for federally-backed mortgages
- The restrictions on evictions of tenants who occupy property with federally-backed mortgages
- How states have implemented additional eviction restrictions
- Best practices for renegotiating a lease during the economic downturn
