In today’s current climate of booming oil and gas production, there is an ever growing need to coordinate surface development and subsurface rights. Colorado has taken the proactive step of requiring notification to mineral rights owners of applications for surface development.
50 States 50 Quirks
Welcome to my Multistate Commercial Real Estate Transaction Spotlight Site. For clients that are frequently involved in multi site transactions, we run across state laws and local practices that strike us as unusual—quirks of the trade.
This Spotlight Site is intended to point out some of those quirks and generate thoughts and responses. It is not intended to be a complete or current guide to real estate transactions in any given state.
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Whether they catch you coming or going, transfer taxes are a way of life across much of the country. Here are some more unusual or extreme variations.
In that awkward dance between counsel negotiating how to cover the gap between closing and recording for the “New York” or “Table” style closing, New Jersey provides an elegant solution—the Notice of Settlement.
If only identity thieves knew how to research title.
As commercial real estate lawyers, we think we are immune from state generated contract forms and in particular, the dreaded Seller disclosure form. In what may be the leading edge of a trend, the State of Washington expanded its mandatory real estate disclosure requirements (RCW-64.06.005 et seq.) to apply to sellers of commercial real estate.