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21 Prac. Real Est. Law. [i] (2005)

handle is hein.ali/prel0021 and id is 1 raw text is: THE PRACTICAL REAL ESTATE LAWYER JANUARY 2005 VOLUME 21/NUMBER 1 Published by The American Law Institute-American Bar Association Committee on Continuing Professional Education six times a year What Lawyers Need To Know About Real Estate Appraisal Reports Robert F. Reilly 7 Any time valuation is an issue in important real estate matters such as taxation, condemnation, estate planning, and commercial litigation, an appraisal re- port is required. These reports consist of many parts and usually contain a great deal of data and compu- tations. However, they are essentially opinions that can be disputed and challenged. Real estate attorneys must be familiar with the contents of, and method- ologies used in, these reports. An illustrative apprais- al report table of contents and a table of typical city, neighborhood, and location data are included. Negotiating Takeover And Self-Help Rights In Shopping Center Construction Projects (With Form) Jacob W. Reby and Marisa L. Byram 27 Shopping center developers often go bankrupt before completing the project. Anchor and other tenants are usually the biggest casualties in such project failures. By adeptly predicting and handling the many diffi- culties that may arise in takeovers, the anchor retailer can prevent disaster in a pre-opening developer de- fault. The authors supply a sample three-party insol- vent project takeover agreement and sample takeover language for a site development agreement. Minimizing Lawyer Liability In Large Firm Real Estate Practice (With Forms) Robert A. Creamer 41 Large firm real estate practice, which often involves rep- resentation of developers and the creation of invest- ment vehicles, including limited partnerships, is fraught with lawyer liability risks. Those risks, although varied, tend to fall into a few recognizable categories. As an adjunct to the discussion of these risk categories, the author supplies a sample I'm not your lawyer letter and sample scope of representation language. Dealing With Real Estate Sales Contracts For Multiple Properties (With Forms And Checklist) Earl L. Segal and Michael A. Segal 51 Using a single contract for a multiple-property, portfo- lio sale requires deft drafting, keen analytical skill, and an ability to anticipate problems before they happen. This is especially so if the properties are in different jurisdictions. The authors include sample provisions on purchase price allocation, allocation of fees and expenses, and inability to close on all properties. The forms and Practice Checklists in each issue of The Practical Real Estate Lawyer are avail- able on 3.5-inch floppy disks. For more information or to order, call 1-800-CLE-NEWS. I ALI-ABA CLE Calendar Publications and Playbacks 1 Groundbreakers 5

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