Commercial Real Estate Legal Questions

Are you currently in a space that was leased through Mote and Associates? It could be a case of bad customer service. The leasing agency is probably not subject to any discrimination laws concerning what properties they show you. However, you can certainly bring it to their attention through a demand letter or letter of complaint. A formal complaint may help resolve the problem.... Read Answer

If your wife is a co-owner of property that you want to use as collagteral for a loan and she won't sign to equally pledge that collateral I thionk you are going to have an impossible time finding any lender who will lend on that property.  Any lender wants to have some assurance that if you don't pay they have a chance of getting their money back by foreclosing the property.  In Maryland there is a special status in owning property if you are husband and wife and the deed you have specifically says "tenants by the entireties" which are words of art which mean husband and wife.  What that means under the law is that if one of those parties owes a debt but the other doesn't, you can't come against the house becuase the person without being on the debt is protected because she is a wife (or alternatively a husband) but, that only applies if the deed to the house specifically says that the man and woman (or couple I guess) own as tenants by the entirties.... Read Answer

No, the borrower has a constitutional right to file for bankruptcy, so long as the borrower qualifies for bankruptcy protection.  Usually, the biggest hurdle to filing for bankruptcy is that the borrower must be insolvent.  While filing for bankruptcy would stall any foreclosure sale, the lender can still request the bankruptcy court for relief from the automatic stay.  This would just postpone the foreclosure, but would not stop it.... Read Answer

I assume that you hold a first deed of trust against the property and that you will foreclose by power of sale foreclosure and not by judicial foreclosure. If you foreclose, then at the trustee sale you will have the option to make a full credit bid, meaning that you can bid on the property up to the unpaid balance of the loan.  If a buyer bids more than your full credit bid, then they will own the property. In other words, one of two things will happen at the trustee sale: either you will own the property, or another buyer will purchase the property and pay off your loan. If a third party purchases the property at the trustee sale, any excess proceeds of the sale will first be applied to the costs of the foreclosure, property taxes, then to pay off your lien, then to pay off any junior liens, then the remainder gets paid to the property owner. Property taxes are often a major consideration in foreclosure actions.  You can check the county tax assessor's website to see if the property taxes are current.  If they are left unpaid for 5 years, then the county tax collector can sell the property at the county tax sale and wipe out your deed of trust. Assuming that the owner of the property is eligible to file for bankruptcy (the debtor must be insolvent such that their debts are greater than their assets) then the automatic stay will pause the foreclosure action until either you request a relief from the automatic stay or the bankruptcy is dismissed.... Read Answer

It depends on the language in the contract. The language may not be included in that particular provision. It could be in a later section. In addition to statute of limitations, though, you have to consider laches, which is its lesser-known sibling law. The longer you wait, then the more likely it is that you will lose your rights. ... Read Answer

I've reviewed many commercial leases for tenants and I've had my changes accepted by the landlord.  These form leases that most landlords use usually do not fit the particular business of the tenant and need to be reviewed for relevance and to ensure that the negotiated terms of the tenancy are all in the written lease agreement.... Read Answer

Short answer is that it depends on how your executed the lease.  If you and your partner were part of a corporate entity or limited entity and signed the lease in that capacity, then you should be able to protect your personal assets.  However, even if you are an entity, the lease could have you personally guaranteeing the lease; in which case, yes, your personal assets could be vulnerable in the case of a judgment.  I would advise making an appointment with an attorney to discuss the lease and your asset protection plan before making any decisions on the default.  However, if you have already defaulted, I would advise sitting down with an attorney to check the lease, and, if you are vulnerable, see what options you may have available.... Read Answer