Total Credits: 1 CLE
A real estate transaction – the development and sale of property, a lease, or purchase of property – may close but that does not mean it’s over. In commercial transactions, there may be issues that are not fully resolved at closing. The parties may agree to certain “holdbacks” to fund post-closing adjustments or liability once those amounts are determined post-closing. This may be a simple matter of brokerage fees or something more complex like taxes or environmental liability. Or dispute may arise, with concomitant accusations of misrepresentations, with the threat of litigation. If these post-closing issue are not carefully considered and planned into the underlying documents of the transaction, the fundamental finality of the tarnation and the certainty clients seek is threatened. This program will provide you with a practical guide to anticipating post-closing adjustments and liability and effective mechanism for their resolution.
Schedule:
Handout 1 (125 KB) | 2 Pages | Available after Purchase |
Handout 2 (109.2 KB) | 1 Pages | Available after Purchase |
Anthony Licata is a partner in the Chicago office of Taft Stettinius & Hollister LLP, where he formerly chaired the firm’s real estate practice. He has an extensive practice focusing on major commercial real estate transactions, including finance, development, leasing, and land use. He formerly served as an adjunct professor at the Kellogg Graduate School of Management at Northwestern University and at the Illinois Institute of Technology.