Simon PLC Attorneys & Counselors – December 2022 Memorandum Practice Tip: Homestead Property – Who Signs the Mortgage? Troy, Michigan – Your client is preparing to close on a commercial loan to support his new business venture. The bank requires a pledge of his residence as supplemental collateral. He calls you and asks, “Why does […]
Author Archives: admin
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Nov
Nov
Listing John W. Polderman, Court Appointed Receiver is pleased to offer the opportunity for buyers to purchase this large health care facility (former hospital/drug rehabilitation center) located in Albion, Michigan. The property contains three parcels with over 70,000 square feet of medical facility, set on 11.5 acres. The property is being offered at $1,599,000.00. If you […]
Memorandum
Aftermath of the NYS Court of Appeals Landmark Decision in Freedom Mortgage Corporation v. Engel
01
Nov
Nov
Simon PLC Attorneys & Counselors – November 2022 Memorandum Aftermath of the NYS Court of Appeals Landmark Decision in Freedom Mortgage Corporation v. Engel Troy, Michigan – To overturn the impact of the New York Court of Appeals’ decision in Freedom Mtge. v. Engel, 37 N.Y.3d 1 (N.Y. 2021), the New York State Legislature introduced […]
01
Oct
Oct
Troy, Michigan – A lessee of commercial equipment – copier/scanner, telephone or computer network, industrial equipment and other items not intended for personal or household use – stops making payments to the lessor due to some defect in the equipment and/or the failure or inability of the third-party vendor to service it. The lessee appears […]
01
Sep
Sep
Simon PLC Attorneys & Counselors – September 2022 Memorandum Options Available To Marijuana Businesses and Distressed Assets in Default in Michigan Troy, Michigan – Michigan’s cannabis industry continues to experience high growth and demand. This has attracted a larger than ever number of grow facilities and product in the marketplace. But all is not rosy, […]
01
Aug
Aug
Simon PLC Attorneys & Counselors – August 2022 Memorandum Important Developments Under Michigan’s New Uniform Assignment of Rents Act Troy, Michigan – When a lender makes a loan on income-producing real estate, the lender often requires the borrower to execute an “Assignment of Leases and Rents.” If it becomes necessary for the lender to institute […]
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Jul
Jul
Simon PLC Attorneys & Counselors – July 2022 Memorandum Second Circuit Denies Standing to ADA Claimants in “cut and paste” Gift Card Lawsuits Troy, Michigan – On June 2, 2022, the United States Court of Appeals for the Second Circuit issued a decision affirming the dismissal of four lawsuits filed by blind or visually impaired […]
01
Jun
Jun
Simon PLC Attorneys & Counselors – June 2022 Special Memorandum Troy, Michigan – We are proud to continue our special three part memorandum series authored by our own Kenneth L. Urwiller II, Esq. With an outstanding career working for local Michigan and ultimately National Bank Associations, Ken brings his particular knowledge to the daily matters […]
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May
May
Auction Frank R. Simon, Court Appointed Receiver is pleased to exclusively offer the opportunity for prequalified buyers to participate in the auction of the Hampton Inn Southgate / Detroit in June of 2022. The starting bid for the auction is $8,400,000.00, with bidding to be in minimum increments of $10,000.00. If you are interested in […]
01
May
May
Simon PLC Attorneys & Counselors – May 2022 Special Memorandum Troy, Michigan – We are proud to continue our special three part memorandum series authored by our own Kenneth L. Urwiller II, Esq. With an outstanding career working for local Michigan and ultimately National Bank Associations, Ken brings his particular knowledge to the daily matters […]