There are three basic areas that require attention from parties and their lawyers when it comes to a title insurance commitment: “Requirements,” “Exceptions” and “Endorsements.”
All in real estate law
Steeg Law a Winner in New Orleans CityBusiness 2023 Reader Rankings for Legal Services: Real Estate
I am extremely proud to announce that Steeg Law Firm is a winner in New Orleans CityBusiness’ 2023 Reader Rankings for Legal Services: Real Estate.
6 Small Issues With Real Estate Documents That Can Turn Into Big Problems
Six seemingly unimportant issues can arise in real estate documents and business contracts that can turn into big problems. Here are some tips on how to avoid them. In other words: DO sweat the small stuff.
Modernizing Real Estate Purchase Agreements for 2023 and Beyond
The evolving economy, climate change and health concerns are forcing real estate buyers and sellers to adapt their standard purchase agreements for a changing world. Agreements may now need: specific provisions to address more intense weather events; general force majeure provisions for entirely unanticipated events; and tweaks to standard provisions to better address the impacts of rising interest rates.
Practical Provisions for Commercial Leases in Light of Changing Times
Over the last two years, lawyers’ standard lease language was tested by natural disasters, the pandemic and drastic changes in the way people work. To adapt to changing times, attorneys should consider incorporating a variety of practical provisions into their corporate leases regarding term, base and additional rent, casualty insurance, premises rights, and force majeure.
Increased Flood Risk in SE Louisiana: Consequences and Opportunities for Developers and Owners
I ran across a new study by the engineering firm Arup and the non-profit First Street Foundation that contains important predictions about flooding that are of particular importance to real estate development in Southeastern Louisiana.
Steeg Law Attorneys Included in 2022 Louisiana Super Lawyers
I am pleased to announce that myself and two other attorneys from Steeg Law were selected by our peers for inclusion in 2022 Louisiana Super Lawyers. I, along with senior associate, Lillian E. Eyrich, were included under Real Estate, and partner Charles L. Stern, Jr. was included under Business Litigation. I have received this honor every year since 2008, and Chuck has received this honor every year since 2007.
2022 U.S. News-Best Lawyers Ranks Steeg Law Firm a Metropolitan Tier 1 Law Firm in Real Estate
I am pleased to share the news that Steeg Law has been included in the 2022 edition of U.S. News – Best Lawyers “Best Law Firms.” Steeg Law has been ranked a Metropolitan Tier 1 Law Firm in New Orleans for Real Estate Law, Commercial Litigation, Commercial Transactions/UCC Law and Litigation – Real Estate. Steeg Law has been honored every year since 2010, the first year that Best Lawyers began including law firms in their rankings. U.S. News-Best Lawyers also included Steeg Law in several other categories.
Robert M. Steeg Joins New Orleans CREW
I have recently become a member of New Orleans Commercial Real Estate Women (New Orleans CREW), the premier commercial real estate association in the Greater New Orleans Area for women from all disciplines of commercial real estate (and even a few savvy men!).
Be Careful What You Do in Addition to What You Sign: How Conduct Can Confirm an Agreement in the Absence of a Signature
In the recent case decided by the Louisiana Court of Appeals for the First Circuit, it seems pretty clear that the court felt that one of the parties to a real estate transaction was trying to avoid its obligations by asserting that it had never signed the document, an option to purchase. The court didn’t let that party avoid its obligations because that party had engaged in conduct consistent with the document. The court ruled that the non-signing party had nevertheless confirmed the agreement and was bound by it.
Servitudes Need Extra Care, but the Survey is Key
Servitudes are a very useful real estate device to create rights in favor of one parcel of real estate over another. They cover a multitude of uses, ranging from vehicular and/or pedestrian passage to parking to height limitations to the availability of access to light and view. Servitudes are complex creatures, and too often there is too little attention paid to them when they are created or when subsequent transactions involving them occur. The recent case of Brehm v. Amacker illustrates several lessons.
Why You Should Be Glad Your Lawyer Is a Stickler for Details
Lawyers, transactional lawyers in particular, are sometimes criticized for being too picky and for paying too much attention to the little things. In his song, “The End of the Innocence,” musician Don Henley even has a famous lyric about it: “Lawyers dwell on small details.” But several recent Louisiana appellate court cases, in different areas of the law, illustrate the often serious pitfalls of minor, technical errors. In many cases, the law sets out very specific, detailed procedures that must be followed, and if they are not, the results can be very serious. The following three cases demonstrate why you should be glad your lawyer is a stickler for details.
Changes and Trends in Real Estate Due to COVID-19
As it has in virtually every aspect of our lives, Covid-19 has drastically accelerated trends in the field of real estate that were emerging slowly before the pandemic, and has ushered in some brand-new changes as well. Our clients at Steeg Law are grappling with these trends and changes, and our documentation of their deals tries to help them achieve the flexibility that these times demand.
Two recent articles highlight some of the key trends and changes brought about by Covid-19. The first article, from CNBC, points to a new development directly related to the pandemic – shorter lease terms on new leases, and the consequences and risks posed to both landlord and tenant by this change. The second article, from The New York Times, describes the acceleration of a trend that was already in existence, namely the shortened life span of commercial real estate buildings and the need for multiple adaptive reuses over the life of the building. The pandemic has caused building owners to anticipate even shorter life-spans for their buildings.
2021 U.S. News-Best Lawyers Ranks Steeg Law Firm a Metropolitan Tier 1 Law Firm in Real Estate
I am honored that Steeg Law has once again been included in the 2021 edition of U.S. News & World Report and Best Lawyers “Best Law Firms,” ranking the firm a Metropolitan Tier 1 Law Firm in New Orleans for Real Estate Law, Commercial Finance Law, Commercial Litigation, Commercial Transactions/UCC Law and Litigation – Real Estate.
Coming Full Circle at McDonogh 19
A recent presentation by ULI Louisiana (ULI) highlighted the intersection between civil rights, affordable housing, and community real estate development.
The story starts sixty years ago, on November 14, 1960. Some readers might recognize this as the date that six-year old Ruby Bridges desegregated William Frantz Elementary School in New Orleans, Louisiana.
Legal Issues In Real Estate During Covid-19: A Q&A With Robert Steeg
Covid-19 has brought business changes and legal challenges to the field of real estate. In a Q&A with the editor of Steeg Law’s newsletter, I discuss some of these legal issues.
COVID-19: The Impact On Real Estate
Real estate is one of the business sectors that has been hardest-hit by COVID-19. Below is a quick summary of some of the ways that real estate lawyers and title insurance professionals are adjusting, so that real estate transactions can continue to take place.
Force Majeure In Today’s World
The legal concept of “force majeure” has vaulted from near-obscurity to intense scrutiny, all due to the novel coronavirus. Here is a general outline of how it applies to leases, purchase agreements and other contracts in today’s world.
Unique Urban Developments
At the most recent meeting of the Louisiana chapter of the Urban Land Institute, two back-to-back presentations highlighted how “new urbanism” can transform huge (over 1,000,000 square feet) buildings into vibrant centers of urban life. The speakers showed how this unique kind of urban development has already taken place in Memphis and how it is expected (hoped) to take place in New Orleans.
Written Servitudes Must be Clear
Servitudes are making their way lately into quite a few cases being decided by the appeals courts of Louisiana. I recently wrote an article, "Apparent Servitudes: When Purchasing Property, Take Note Of What You See," about a case, Naramore v. Aikman, that was decided by the Louisiana Court of Appeal for the First Circuit. It demonstrated some established but little known principles of Louisiana law that every person dealing with real estate in Louisiana should be aware of. Now, a case decided by the Louisiana Third Circuit Court of Appeals, Brunson v. Crown Brake, LLC, sets forth some important principles governing servitudes.