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27 Prac. Real Est. Law. 3 (2011)

handle is hein.ali/prel0027 and id is 1 raw text is: The Practical Real Estate Lawyer Anatomy Of An Appraisal Leslie A. Fields 9 Few things can be as important in a condemnation case as an ap- praisal report. And few things can be more important for the attor- ney than knowing how to review it. In this article, Leslie A. Fields discusses why to review the appraisal report, what to look for in the report, and the typical components of an appraisal report in a condemnation action: the letter of transmittal, standard contin- gent and limiting conditions, extraordinary assumptions, hypo- thetical exceptions, summary of facts, appraisal assignment and functions, definitions, property rights appraised, identification of the subject property, ownership history, regional/neighborhood description, market conditions, site analysis, assessed valuation and taxes, highest and best use, methodology, value of remain- der before and after taking, summary of estimates and more. The author also discusses the relevant USPAP Standards and how they apply to the report. Exit And Restructuring Strategies For Retail Deals (With Form) Ann Peldo Cargile 15 Nobody likes to think about the fallout from a retail deal going bad, but it happens and it is essential to think about it at the out- set. Although it is impossible to anticipate every contingency, it is usually possible to build in the flexibility needed to address the problems that might arise. In this article, Ann Peldo Cargile dis- cusses the front end protections such as co-tenancy, gross sales thresholds, pre-negotiated termination options, and landlord solvency concerns. The author also discusses options after the re- tailer is in trouble, such as sales, subleasing and assignment, rent concessions, and the special concerns that arise when the retailer owns its own pad. How To Defend Avoidance Actions In Bankruptcy Litigation James Bruce Davis 25 It is never a good thing when there is a title defect, even if it is a curable one. It can be even worse when bankruptcy is involved. In these situations, the real estate attorney has to know how Bank- ruptcy law can complicate the process and how to defend against the trustee. In this article, James Bruce Davis discusses issues in- cluding: how to anticipate the ways that a bankruptcy trustee can avoid a deed or mortgage granted by a debtor even before a bank- ruptcy petition; defenses to strong arm suits (curative statutes, equitable subrogation, trustee's constructive notice, constructive trust, debtor-in-possession's or trustee's actual knowledge of the mortgage, bankruptcy statute of limitations, and making a deal with the trustee); defenses to suits to avoid preferences substan- volume 27 number 1 | january 2011 tially contemporaneous exchange, equitable subrogation, inquiry notice, bankruptcy statute of limitations, defenses to recovery); defenses to suits to avoid fraudulent transfers (good faith pur- chaser, bankruptcy statute of limitations, defenses to recovery); and defenses to suits to avoid unauthorized post-petition trans- fers (gap transfer in involuntary bankruptcy, good faith purchaser, section 549 statute of limitations). Insurance In The Commercial Loan And Transactional Contexts Richard R. Goldberg 37 Sometimes the parties to commercial loans and other transac- tions touching on real estate regard insurance as a side matter. To the contrary, it should be considered an essential part of structur- ing the deal. In this article, Richard R. Goldberg discusses basic insurance concepts such as the insurable interest, co-insurance, certificates of insurance, named versus additional insureds, insur- ance company ratings, notices of termination, modification, and cancellation, and mortgage loss payable clauses. The author also discusses the common types of insurance in the commercial loan transaction context, such as property and casualty insurance, business interruption insurance, rental interruption insurance, commercial general liability insurance, self-insurance, casualty insurance, and terrorism insurance. Additionally, the author ad- dresses retentions, deductibiles captives, and other insurance is- sues in the commercial and transactional context. The Project Formerly Known As LEED: Decertification Threats Under The LEED Certification Process Shari Shapiro 55 In an age of increasing environmental awareness, LEED certifica- tions are highly sought after and can be an important asset for the real estate owner. But in addition to being valuable, LEED certifica- tions can be difficult to maintain. So what happens when a prop- erty owner does not comply with all of the requirements of the LEED certification? In this article, Shari Shapiro discusses LEED's Minimum Program Requirements (MPRs), what is needed to com- ply with them, the evolving standards for determining compliance and non-compliance, and the standards unique to the LEED-ND (Neighborhood Development) certification and decertification. Groundbreakers - Basic Appraisal Concepts For Dummies Michael Rikon 5 To purchase the online version of this issue, go to www.ali-aba.org and click on Publications. Back issues, individual articles, and forms are also available there.

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