|Tuesday, November 13, 2018
Welcome to the ACREL News & Notes! It is published throughout the year and features upcoming meetings, ACRELive presentations, Fellows, and local ACREL events, as well as articles on substantive areas, noteworthy cases and hot topics. We welcome your suggestions! Send ideas to Peggy Rolando, email@example.com
--ACREL Communications Committee
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Our 40th Anniversary meeting is behind us and for all those who attended, there’s no doubt that The Good Times Were Rolling in New Orleans. With almost 500 Fellows and guests, it was the 2nd largest meeting in the history of the College. Thirty-Six of our forty-three new Fellows were part of the historic meeting.
The highlights of the meeting included outstanding educational sessions, great tours and superb food. From beignets to bourbon, with time at the incredible World War II Museum in between, and a traditional New Orleans Second Line to the Orpheum Theater on Friday evening, it was a truly memorable weekend. As always, the Programs Committee deserves enormous credit for organizing a terrific series of presentations.
To read the rest of Jay's Message, click here.
Jacob W. Reby Beth H. Mitchell
Congratulations to Jake Reby and Beth Mitchell who were elected as President and Treasurer of ACMA, respectively, at the Annual Meeting in Tucson, AZ in October.
Phillip G. Nichols
Fellow Phil Nichols was featured in the "Faculty Focus" section of the USC Law Magazine. Click here to view the article.
Have you recently received an award? Been published? Presented at a conference?
Share with us today on the ACREL LinkedIn group!
2018 Annual Meeting: New Orleans
As President Epstien reported, we had an absolutely fabulous meeting in New Orleans with a record number of Fellows in attendance. We also had 17 Past Presidents in attendance, as well as four charter members. Thank you to all who attended and all those who made this meeting such a success. Click here to see the photo gallery from New Orleans. You can also access the powerpoint presentations from the meeting on ACRELShares.
ACREL Cares in New Orleans
We had a FANTASTIC two day build
(if you ignore that my wife, Francie, ignored ladder safety rules) and we all
had a great time. The muggy weather could not keep the spirits down of
the roughly 50 people who donated time.
Events like NOLA are exactly
what we need in this world today—people giving their time to help those less
fortunate. And ACREL Cares is here to help provide opportunities to do
that in future meetings. Not to mention you get to hang out with
genuinely nice (and sometimes a bit crazy) people.
We’ve not given up on Spring and
will definitely be doing something in Montreal, so we look forward to seeing you
all in the upcoming events. Anyone who is interested in being on the committee for Cares, please contact me. I can use all the help I can get (and I promise to make sure there is always beer at the events!)
AND REMEMBER, in order to allow
us to do our job we need YOUR help. Whether it is my $20 a year (thank
you all for throwing twenties at me at the meeting!) or Jay’s one billable
hour, every dollar helps. As you’re sitting there doing your end of year
tax planning or thinking about how fortunate you are during the holiday season,
now is the time to make that small (or large—we don’t judge) contribution so we
can keep going.
- Adam B (stands for “Bulldog”)
Kurt and Marlene Nondorf hosted the Houston Fellows on September 27, where New Fellows Connie Simmons Taylor and Mary Axelrad were formally welcomed to the College.
Are Condominium Assessments Dischargeable in Chapter 13 Proceedings?
Manuel Farach, McGlinchey Stafford, PLLC, Fort Lauderdale, FL
Under certain circumstances, the answer is "yes" according to a recent case from the Ninth Circuit Court of Appeals. Specifically, the Ninth Circuit held that a pre-petition in personam debt for assessments that is created when a property owner takes title to property and contractually obligates herself to pay assessments is dischargeable when the debtor successfully completes a confirmed Chapter 13 plan. While the statement itself appears complicated, analysis of the facts of Goudelock help put the opinion in perspective. READ MORE >>
What You Need to Know About the New ALTA Title Commitment Form
James C. Russick, Old Republic National Title Insurance Company, Tampa, FL
On August 1, 2018, the American Land Title Association decertified the June 17, 2006 ALTA Commitment form in favor of the improved August 1, 2016 ALTA Commitment form with technical corrections effective April 2, 2018. The definitions of certain of the terms that appear in capital letters can be found in the 2016 Commitment. The overlap between the adoption of the 2016 Commitment and the decertification of the 2006 form was necessary to support regulatory approvals, systems changes, and industry continuing education.
READ MORE >>
Click here for ALTA Commitment Form.
Click here for ALTA Short Form Commitment.
Fore! Golf Courses & Housing: Drafting for the Hole in One,
Avoiding Judicial Sand Traps
Brian S. Edlin, Jordan Price Wall Gray Jones & Carlton, PLLC, Raleigh, NC
In 2015, ESPN reported that the United States was experiencing a gradual decline in the number of golf courses in the country, correcting an “oversupply between the 1960s and the early 2000s.” The report was based on a study conducted by the National Golf Foundation which found 15,372 courses in the United States, down from a peak of 16,052 courses. The following year, Bloomberg confirmed that more than 800 golf courses had closed nationwide in the last decade. The article noted that surviving operators must navigate “a declining interest in the sport, a glut of competition” and the corresponding decrease in revenues. READ MORE >>
Liquidated Damages Project: Washington
Gary E. Fluhrer, Scott Osborne, Foster Pepper, PLLC, Seattle, WA
Washington State case law directly addresses the nature and role of liquidated damages in commercial real estate purchase and sale agreements. Washington courts have historically remained open to the remedy of either liquidated damages or specific performance in this context, as well as the alternative of recovering actual damages, if the parties have contracted to preserve such a remedy. However, the Washington State legislature’s passage of a “Safe Harbor” statute in the early 1990’s implemented a manner by which parties can assure liquidated damages will serve as the exclusive remedy in case of breach. READ MORE >>
PropTech Privacy and Data Protection in the Age of the GDPR
Minta E. Kay, Goodwin Procter LLP, Boston, MA
Traditionally, privacy and data protection has not been a focus across the commercial real estate (“CRE”) sector. However, with technological innovations and new business models driving change into the sector under the buzzword “PropTech”, suddenly privacy has become relevant, and indeed critical, to maximising these business opportunities. READ MORE >>
Read all of this issue's articles here.
(and bikes, golfs and skis!)
Thank you to Manny Farach for leading our ACREL Runs group bright and early at 6:00 am after a late night at the Orpheum - hats off to all those who participated! ACREL does keep lists of Fellows who are interested in participating in group runs, bike rides, golfing and skiing - please contact Caitlin McIntire if you would like your name on any of these lists!
Please remember to pay your dues either online or by sending a check to the ACREL office. Late fees apply for all payments received after December 31. For any questions on dues, please reach out to Julie Burgess.
Revised Bylaws Adopted
On October 20, during the business meeting at the Annual Meeting, the revised bylaws were adopted. Click here for the full version of the bylaws.
If you prefer a printable version of the News & Notes click here.
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