Commercial Leases and Foreclosure Issues Presented by the Real Property Section
Summary This continuing legal education program will focus on issues involving lenders, tenants and junior encumbrances in the commercial foreclosure context. The program will address general rules of priority, the effect of foreclosure on junior leases and other junior encumbrances, provisions that affect priority, and post-foreclosure rights and liabilities of lenders under leases.
Seminar Outline
A. Basic Rules of Priority
B. Effect of Foreclosure on Junior Leases and Other Encumbrances
1. Senior and subordinate leases 3. Guaranties of senior and subordinate leases 4. Junior encumbrances (e.g., easements, CC&Rs) 5. Ability to unilaterally subordinate deed of trust to junior encumbrances
C. Provisions Affecting Priority
1. Automatic subordination, nondisturbance and attornment clauses in leases 2. Lease SNDA agreements 3. Subordination of other encumbrances
D. Post Foreclosure Rights and Liabilities of Lender Under Lease
1. Privity of estate verses privity of contract 2. Lease security deposits; prepaid rents 3. Lease defaults by borrower 4. Third party contracts (e.g., property management) 5. Mechanics` lien claims 6. Other lease clauses that benefit Lender (e.g., estoppel certificates)
Hosted reception will follow the seminar (4:30 p.m. - 6:00 p.m.)
Credit Information
2 Total CLE Units (No Ethics)
Dates & Locations
Please note: Check-in begins 30 minutes prior to every event.
Location
Start Time
End Time
Northern Nevada Bar Center – view map
9456 Double R Blvd., Suite B, Reno, NV 89521
