Distressed Asset Practice:
Today’s turbulent times present our clients with unprecedented challenges and opportunities in the realm of distressed real estate and businesses. In response, we’ve formed our Distressed Asset Practice to formally integrate already existing practice areas into a seamless legal solution for the various real estate industry players, as well as those whose wealth or business is derived from currently distressed property, including:
· Buyers, Sellers and Developers
· Private / Institutional Lenders and Borrowers
· Condominium / Homeowner Associations, Unit Owners, and Developers
· Construction Contractors, Subcontractors and Property Owners
· Mortgage and Real Estate Brokers and Agents
· Landlords, Tenants and Property Managers
· Closing Agents, Title Companies and Insurance Underwriters
· Private Investors and Private Equity Funds
Please see our core practice area descriptions for a list of all the services we provide. Here are just some of the services we typically provide specifically in connection with distressed assets:
For Lenders / Borrowers:
· Negotiating Various Forms of Loan Workouts, Including:
o Short Sales
o Deeds In Lieu of Foreclosure
o Forbearance Agreements
· Drafting or Reviewing Loan Modification Documents
· Litigating Breaches of Loan Agreements.
· Coordinating with Prospective Lenders and/or Investors
· Asset Protection Planning / Deficiency Judgment Collection
· Tax Planning Regarding Cancellation of Indebtedness Income
· Negotiating and Drafting Intercreditor Agreements
· Determining Priority of Liens
· Prosecuting / Defending Foreclosure Lawsuits
· Creditor Representation in Bankruptcy / Coordination with Debtors’ Bankruptcy Attorneys
· Soliciting Investment and Obtaining and/or Restructuring Mortgage Financing
For Buyers / Sellers and Brokers:
· Pursuing Title Insurance Claims
· Providing Closing Services, Title & Lien Searches, Issuing Title Policies
· Suing to Enforce / Rescind Purchase and Sale Agreements
· Suing to Recover Deposits on Preconstruction and Other Purchase Agreements
· Completing Tax Deferred Like-Kind Exchanges (1031 Transactions)
· Structuring Family and Corporate Real Estate Portfolios to Minimize Owner Liability and Reduce Legal Exposure between Properties.
· Drafting and Negotiating Partnership and LLC Operating Agreements
· Analyzing the Income, Property, Estate and Documentary Tax Considerations of a Prospective Purchase or Sale.
· Inbound Income and Estate Tax Planning for Prospective Foreign Purchasers of U.S. Real Estate
· Handling Disputes For / Against Minority Partners.
· Formation and Dissolution of Single Asset Entities, such as Corporations, Limited Partnerships and Limited Liability Companies, Etc.
· Recovery of Real Estate and Mortgage Brokerage Commissions
For Owners and Construction Companies:
· Pursuing Quiet Title Actions
· Outbound Income and Estate Tax Planning for Foreign Owners
· Prosecuting / Defending Evictions
· Negotiating Lease Modifications
· Rent Collection
· Drafting and Negotiating Property Management Agreements
· Construction Lien Foreclosure and Lien Defenses
· Breach of Construction Agreements
For Condominium / Homeowner Associations:
· Construction Defects Litigation
· Collection of Association Dues and Rule Enforcement
· Completion of Developer Turnover
· Drafting and Negotiating Property Management Agreements
· Assistance with Elections, Meetings and Amendments to Governing Documents
The Team:
Whether as advocates or as dealmakers, our multi-disciplined team has experience in all these areas, as well as in the areas of accounting and finance to help us better coordinate with other professionals, such as CPAs and bankers. Since we also maintain an active Wealth Preservation practice, we can analyze these issues in the context of our clients’ Asset Protection and Trust & Estate Planning goals and limitations, as well as help them navigate through Probate, Guardianship and Divorce proceedings containing distressed property. We also work extensively with foreign and non-Florida resident investors and their counsel.
· Christopher J. Bailey and Robert J. Hanreck, Litigation and Dispute Resolution
· Eduardo R. Arista and Michelle Diaz Cofiño, Asset Protection, Corporate and Tax
· J. Ulises Herran and Michelle A. Williams, Title Issues and Loan Workouts
We now provide our clients with additional payment options by accepting all major credit cards. As always, our clients’ privacy is of the utmost importance.
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