The central Indiana commercial real estate market continues to be active, with multi-family and industrial sale activity in particular remaining strong after a better-than-expected 2020 despite the uncertainty created by the COVID-19 pandemic. Industry experts and economists project that, due to…
Environmental issues can present significant risks and complications in real estate transactions. With the right team in place and with guidance from skilled environmental counsel, however, environmental risks do not need to be viewed as a threat to the project. Rather, environmental challenges can…
Matthew D. Neumann, Partner in Krieg DeVault’s Real Estate & Environmental practice, hosted a webinar on Environmental Issues in Real Estate Transactions: Ten Critical Concepts and Important Tools to Manage Risk. A recording of the webinar and the slides from the presentation are available here.
Commercial leases typically fall into one of three main types of leases—gross, net, or modified gross, with the net lease having various subtypes. The differences in these types of leases largely revolves around the rent structure of the lease and the allocation of costs and expenses for the leased…
A collective sigh of relief could be heard from recording offices, title companies, and lenders across the state of Indiana as House Enrolled Act 1056 (HEA 1056) was signed into law at record speed. On Thursday, February 18, 2021, Governor Holcomb signed into law HEA 1056 which ultimately reversed…
The American Land Title Association (ALTA) and the National Society of Professional Surveyors (NSPS) have adopted new Minimum Standard Detail Requirements for ALTA/NSPS Land Title Surveys effective as of February 23, 2021 (the “Standards”).1 While many of the changes relate to the verbiage used in…
Author's Note: This article kicks off "Triple Net: A Series on Commercial Leasing by Krieg DeVault" in which members of the Firm's Real Estate & Environmental Practice Group will analyze important issues and provide practical guidance for landlords and tenants when entering into commercial…
Last week, the Indiana Department of Local Government Finance (“DLGF”) released the new Indiana Sales Disclosure Form (“SDF”). This article provides a brief overview for buyers and sellers of when the SDF is required and of the substantive changes made to the SDF that take effect January 1, 2021. …
Under Internal Revenue Code, Section 1031 (“Section 1031”), the taxpayer may exchange certain property for other like property and defer gain recognition on the relinquished property. The Tax Cuts and Jobs Act of 2017 (“TCJA”) limited the application of Section 1031 to only exchanges of real…
Senate Enrolled Act No. 340, which goes into effect July 1, 2020, will now require that any document to be recorded in Indiana have both a notarized signature of grantor and a notarized signature of a witness. Currently, Indiana Code §32-21-2-3 requires any document to be recorded must be either…
The concept of force majeure has garnered significant attention due to the social and economic impact of the novel Coronavirus (“COVID-19”) resulting in a reduction of operations or closure of businesses, factories, stores and restaurants across the U.S. What does force majeure mean to landlords…
On March 27, 2020, President Trump signed the Coronavirus Aid, Relief, and Economic Security Act (the "CARES Act") to provide economic benefits to small businesses in response to the novel Coronavirus (COVID-19) pandemic. In addition to the widely publicized Economic Injury Disaster Loan and…
