This presentation discusses various aspects of provisions in deeds of trust that deal with recourse versus non-recourse liabilities and so-called carve-out provisions imposing liability in an otherwise non- recourse context. A sample non-recourse carve-out provision is attached as Appendix A, but there is a great variety of provisions which lenders and borrowers negotiate on a regular basis.
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Although they have received a bad reputation in some circles, the terms and provisions contained in a ground lease can be negotiated in such a way that they allow both property owners and developers to achieve a variety of financial and business goals. By understanding the risk and benefits, as well as the typical party’s motivations, an attorney working on a ground lease can best prepare his client for the unlikely eventualities that may face a party to a ground lease – whether they come in the first year or the ninety-ninth.
J. Cary Barton’s legal career has extended for more than 52 years since he was sworn in as a member of the State Bar of Texas by a District of Columbia Notary Public at the former Federal Power Commission in December 1965. He summarizes some of the legal issues that have become important to him in connection with purchase and sale contracts during his practice of commercial real estate law.