Financial Poise Webinars™ announces “Insider Lease Agreements,” a live webinar premiering February 22nd at 11:00 AM CST. This webinar is co-produced by West LegalEdCenter™ and part of the “Ethical Issues In Real Estate-Based Bankruptcies 2023” series. It will feature David Levy (Keen-Summit Capital Partners); Matthew Christensen (Johnson May); Michael Rosow (Maslon LLP); and Robert E. Richards (Dentons).
It is a common play in real estate to create a separate operating entity to serve as a tenant and execute a lease between the owner of the property and himself.
It is a common play in real estate to create a separate operating entity to serve as a tenant and execute a lease between the owner of the property and himself. Typically, this happens in assets which serve as a real estate-based business, such as a retail property. The structure enables the operator to reduce the taxable income of the business and also provide a liability shield for the property owner. However, this arrangement can easily lead to some ethical issues, should the property owner become distressed. Where is the line between a savvy real estate strategy and unethical behavior? This webinar presents practice pointers on how to use the ABA Model Rules as a guide to navigating ethical issues in Insider Lease Agreements. Model Rules addressed include those that govern the client-lawyer relationship (Rule 1.7: Conflict of Interest: Current Clients); those that speak to the need for candor toward the tribunal and fairness to an opposing party and counsel (Rule 3.3 through 3.4); and the necessity for truthfulness in statements to others and issues surrounding unrepresented persons (i.e. Rule 4.3).
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Note: If you or your firm are subscribed to West LegalEdCenter™, this webinar is included in your subscription at no additional cost.
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