Commercial Real Estate

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Letters Of Intent: Valuable Tools To Facilitate (Not Obfuscate) The Deal

Most sophisticated commercial real estate (“CRE”) transactions, including leases, acquisitions, dispositions, joint ventures, and loans, usually start with a letter of intent (“LOI”).  Depending on the transaction and the parties involved, lawyers may or may not be involved in preparing the LOI.  The LOI is designed to summarize key business terms and is generally non-binding in most respects.  The LOI should quickly establish the core ...
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Beware Of Usury Laws When Receiving A Loan As A Business

ARTICLES Author(s) Related Practices Related Articles By: Share This Article *This article was written with the assistance of Junior Ndlovu is a summer extern with Vandeventer Black. He is a second-year law student at the Washington & Lee School of Law. “‘Usury’ is generally defined as a premium or compensation paid or stipulated to be paid for the use of money borrowed at a greater ...
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US Supreme Court Overturns Quill

In South Dakota v. Wayfair, Inc., No. 17-494, 2018 WL 3058015 (June 21, 2018), the United States Supreme Court upheld a law allowing the State of South Dakota to collect sales and use tax from out-of-state sellers, even if those sellers do not maintain a physical presence in South Dakota.  In its decision, the Supreme Court overturned its prior decisions in Quill Corp. v. North Dakota, 504 ...
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BUYING AT A FORECLOSURE SALE “DON’T LET A BARGAIN BECOME A BURDEN”

Looming maturity dates (for which borrowers are not prepared to pay the remaining balance) or other monetary defaults of numerous commercial mortgages may present many opportunities for purchasing property on a discounted basis.  With proper precautions and investigation, what appears to be a “deal” really can be a “deal.”  However, purchasing a property at a foreclosure sale or other distressed sale has many traps for ...
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Deborah M. Casey Selected as a 2018 Woman Leader in the Law

Deborah M. Casey Selected as a 2018 Woman Leader in the Law

Vandeventer Black LLP AV® Preeminent-rated partner Deborah M. Casey was selected as a 2018 Woman Leader in the Law by The National Law Journal. Casey is a highly accomplished attorney who has also been recognized among ‘Influential Women of the Year’ by Virginia Lawyers Weekly, ‘Best Women In The Law 2017’ by Virginia Living Magazine, and ‘Women In Business’ by Inside Business. Casey continues as a Vandeventer Black Executive Board Member ...
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Distilling the Development Deal: Avoiding Pitfalls of Handshake Agreements

Distilling the Development Deal: Avoiding Pitfalls of Handshake Agreements

Your colleagues may have approached you about investing in a real estate development project or similar venture.  If it is your first investment of this nature, you may wonder how to best memorialize the deal and which questions you should ask on the front end to best protect yourself.  You may have general expectations for the deal but still need assistance in reducing those concepts ...
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Exit Strategies in Real Estate Investments

Sooner or later your colleagues will approach you about investing in a development deal or similar venture if they have not already done so.  The investment vehicle for such a project will typically be in the form of a limited liability company ("LLC").  Before getting involved in an LLC investment in commercial real estate, you should carefully consider your exit strategies if the real estate ...
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Virginia Becomes First State to Formally Regulate Fantasy Sports

Virginia Becomes First State to Formally Regulate Fantasy Sports

Authored by Jay Rixey On March 7, 2016, Governor McAuliffe signed into law the Fantasy Contests Act (the “Act”), making Virginia the first state to formally regulate daily fantasy sports websites such as DraftKings and FanDuel. The Act distinguishes these daily fantasy sports websites from illegal gambling sites, and outlines how they may lawfully operate within Virginia borders. The Act defines a “fantasy contest” to ...
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