Posts Tagged ‘inspection’
NJ.com reports: Bill passed by state Senate, headed to the Assembly in the Fall, would prevent municipalities from conducting routine inspections of apartment buildings or charge for them, making those duties the sole domain of the state. Opponents of the bill say the municipal inspections save lives. Meanwhile, supporters say the municipal inspections are redundant and an unnecessary cost.
Guest Blogger: Andrew Linden
As we discussed in our prior entry, How a Commercial Landlord Can Avoid Spoiling a Potentially Good Damage Claim, a landlord/owner has a duty to preserve evidence of alleged damages to its premises in order to avoid a claim of spoliation. Shortly after we posted that entry, the Supreme Court of New Jersey addressed the issue of spoliation in a dispute between a building owner and its contractors. Robertet Flavors, Inc. v. TriForm Constr., Inc., 203 N.J. 252 (2010), described below, provides a real-world example of how a potentially good damage claim can quickly go bad as a result of spoliation.
The Great Recession has resulted in an inevitable increase in commercial loan defaults (See my post of November 15, 2010, “Lender/Tenant Concerns When a Landlord Defaults on Its Mortgage“). Any lender will tell you that it would rather avoid foreclosure for obvious reasons. Foreclosure is an expensive, lengthy, and sometimes risky process. A deed in lieu of foreclosure may be a viable alternative under the right circumstances, and its use in the commercial real estate market is on the rise (for example Vacant Linens HQ gets new tenant).