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In May 2017, we highlighted the Sixth Circuit's opinion in Town Center Flats. Briefly, Town Center Flats held that ownership of a commercial property's rents transferred to a lender when (1)...
Previously, we alerted you that Michigan had passed its version of the Uniform Assignment of Rents Act (MUARA). Among other things, this law clarifies that an assignment of rents...
On June 24, 2022, Michigan passed the Michigan Uniform Assignment of Rents Act (MUARA). When it did, Michigan became the first state with a Uniform Assignment of Rents Act...
Secured lenders whose commercial loans are in default often face a serious question: should they allow a commercial property’s expenses to be paid, potentially increasing their losses?...
Secured lenders whose commercial loans are in default often face a serious question: should they allow a commercial property's expenses to be paid, potentially increasing their losses...