In January of 2016, Division One of the Arizona Court of Appeals rendered its opinion in Dobson Bay Club II DD v. La Sonrisa de Siena.  In Dobson Bay, the Court reviewed the imposition of a late fee on a commercial loan transaction.  The Court likened its analysis of the late fee at i

In 1968, Congress passed the Interstate Land Sales Full Disclosure Act (“ILSA”) in an effort to protect consumers from developers who were selling land, sight unseen, to out-of-state buyers. Too often, this land was not suitable for development or the intended use of the unsuspecting

During my almost 20 years of practice, I have seen too many occasions where a client has a commercial lease dispute that could have easily been avoided if certain provisions would have been negotiated at the outset. It is true virtually every commercial lease negotiation involves a la

When selling a property, a seller is required to make a number of disclosures about the property so that the buyer is fully informed about the condition of the property he or she is purchasing.  These disclosures include structural issues, termite infestation, and plumbing proble

During its most recent session, the Arizona legislature passed SB1476, a new law governing architectural review committees of planned communities in Arizona.  The bill creates a new statute, A.R.S. § 33-1817, which goes into effect on August 2, 2012.  This statute will impos

I. INTRODUCTION The following information is intended to provide an overview of various types of financing, a summary of the documents involved, and a description of selected, significant issues that arise with each type of financing. This article should is not intended to be, nor sho

There has been an increasing trend by Lenders disposing of distressed loans to sell the note secured by real estate rather than foreclose on the loans or allow a short sale. These notes are being offered and sold as “hard money” assets with the primary sales feature being the value or

Arizona homebuilders will receive some relief from the imposition of impact fees beginning in 2012 as a result of the Arizona Legislature’s passing of SB1525. Impact fees are imposed on new home development by cities and towns in order to fund the development and expansion of new and

The Arizona Legislature recently passed seven new laws which will affect the way homeowners associations, condominium owners associations, and other community associations in Arizona operate.  Six of the new laws will go into effect on July 20, 2011, and the seventh will go into

Structuring Ownership and Control of Real Estate Holdings to Avoid Federal Environmental Liability. It is common practice for real estate developers and investors to form and use subsidiary companies (which are often single purpose entities) to acquire and own their various real estat