Michigan Real Estate law Resources

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Michigan Real Estate law Article Summaries

Real Estate Buyers Beware: Get Representation... You Need Representation
By: Elaine VonCannon: It is the buyer’s right to seek an agent, and it is in their best interest to do so. For Sale by OwnerWhen a potential... investment property as part of her business. Elaine is also an Accredited Buyer's Representative as well as a Senior Re...

Personal Branding Techniques for Real Estate Agents and Brokers
By: Dan R. Vella: A key principle of marketing is to find something unique about what you offer as the basis of your sales message. Even... The Personal Branding Toolkit for Real Estate Professionals (
The Hydraulic Engineer & Real Estate Development
By: Colm Dillon: Those of you who are new to the real estate development business, need to understand what each Design professional con... Fire hydrant & fire hose reel systems.. Fire sprinkler service.. External fire sprinkler service.. Pre-action fire spri...

Free Real Estate Listings on Real Estate Gates
By: Cameron Lindblom: Advertise your property listings for FREE! About 1500 realtors from all over the world have already taken advantage. R... All real estate agents, brokers, agencies, affiliating offices, construction companies and developers registered with R...

Real Estate Professionals Need You to Write for Them!
By: Isabel Fena: Ask yourself these questions:

Are you an experienced writer?
Do you want to stay at home to write?
Do y... introducing yourself to Realtors conducting open houses to begin with.Writing for real estate professionals can be a fu...

Featured Article

Real Estate Bankruptcy

Sajjad Ahmad

Although real estate bankruptcy cases no longer dominate the bankruptcy courts' dockets as they did in the early nineties, but they continue to be filed with great frequency in UK. At its essence, the real estate bankruptcy is a two party dispute between mortgagee and mortgagor. Real estate bankruptcy cases are typically filed after a foreclosure sale has been set. Upon learning of the bankruptcy filing, a secured creditor has a number of available options, all or some of which should be exercised, depending on the facts of the case, to maximize loan recovery.

A lender can ask the court to dismiss the bankruptcy case as a "bad faith" filing. A creditor asserting bad faith must prove the subjective bad faith of the debtor and that any reorganization by the debtor is objectively futile. For subjective bad faith, the court will examine whether the debtor invoked the protections of the Bankruptcy Code without either the intention or ability to reorganize its financial affairs. To determine objective futility, the court will examine whether there is indeed a "going concern" to preserve and whether there is any realistic chance for the debtor to reorganize. Most courts require a very strong showing to dismiss a case for bad faith at the outset of a case.

Under the Bankruptcy Code a motion for relief from stay will also be granted where the secured creditor can prove that there is no equity in the real property over and above the secured claims, and that the property is not necessary to the debtor's effective reorganization. This basis for relief is typically alleged as an alternative to bad faith, in the same motion. Almost all controversies surround the value of the real property, making the expert report and testimony of a licensed real estate appraiser essential to the successful prosecution of a motion for relief from the automatic stay on these grounds. The same factors relied upon to support objective futility in the bad faith filing analysis are used to establish that the property is not necessary to an effective reorganization.

An alternate ground for relief from the automatic stay is lack of adequate protection of the secured creditor's interest in the property. For example, if the real property is deteriorating in value and the lender is not receiving post-petition payments, the lender's security interest in the property is not adequately protected. A creditor holding a properly perfected assignment of rents has a lien on "cash collateral" under the Bankruptcy Code. If the assignment of rents was properly perfected pre-petition, it usually attaches to the post-petition rents generated by the debtor's real property. A debtor may not use cash collateral without either a court order or the consent of the secured creditor. While it is common in nonsingle asset realty cases for a debtor to negotiate a cash collateral agreement with the secured creditor before filing for bankruptcy, in single asset real estate cases, which are typically filed at the eleventh hour for the express purpose of stopping a foreclosure, such negotiations are virtually nonexistent.

Unless, within the first day or two of the case, the debtor requests a cash collateral agreement with the lender, or files a motion with the court to authorize the debtor's use of post-petition rents, a lender should immediately advise the debtor in writing that it may not use cash collateral absent an agreement. If an agreement is not reached, the debtor will usually petition the court for authorization on an emergency basis. The lender can also petition the court to deny authorization on the basis that the debtor lacks the ability to adequately protect its interests in the rents. In the final analysis, most secured creditors share the same objective when faced with a real estate case: to extract their collateral, including rents, from the bankruptcy as quickly and inexpensively as possible.

Writer of this article is working as a webmaster of www.ukadvice.com. Also writes business related articles for different article sites. For further details and free bankruptcy advice:

Naylor Parkes Associates Ltd.

Lawford House, Lawford Close

Birmingham

B7 4HJ

West Midlands

United Kingdom.

http://www.ukadvice.com

webmaster@ukadvice.com

Michigan Real Estate law Resources
Check below for additional Michigan Real Estate law Links and Information
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Real Estate Law
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Berger Singerman - Florida Business Law Firm - Miami; Ft. Lauderdale & Tallahassee Attorneys
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How Agents Work
Michigan real estate agency disclosure. Learn how realtors and real estate agents represent clients as buyer brokers; sellers agents; dual agents and transactional coordinators.

Morlan & Associates; P.C
a law and legal information rich site located in Tulsa; Oklahoma. It has jury verdicts and summaries of Oklahoma appellate court decisions. Oklahoma - Tulsa - Shopping - Law Firms

Yahoo! News Search Results for michigan Real Estate attorneys
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Great Lakes Realty Systems; Inc. - Michigan Real Estate Resource Center
... licensing forms; the current edition of the Michigan Real Estate Law Book ("Redbook"); license ID number verification ...

Legal Action Fund (PDF)
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Residential Commercial Attorneys MI / Southfield Michigan Real Estate Law Lawyers
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Michigan Real Estate Law Quiz
Michigan State Law. 1. The license of a real estate salesperson shall be: CORRECT! 2. All of the following are exempt from the license law except: CORRECT!

Real Estate Law Berkley - Real Estate Laws in Berkley Michigan - Real Estate Law Yellow Pages .com
Find Real Estate Laws in Berkley Michigan or in Canadian provinces on RealEstateLawYellowPages.com. Find Real Estate Laws near you on the Nations Directory.

Find in a Library: Michigan real estate law and practice; a handbook for prospective brokers & salesmen preparing to...
Search: Find in a Library. Web. Choose Proximity: Worldwide. Results 1 - 4 out of 4 for Worldwide. 1. Washington; DC 20540. 2. Lansing; MI 48909. 3. Detroit; MI 48202. 4. Woodlands Library Cooperative. Albion; MI 49224

Whaley (1974) Michigan real estate law and practice: A handbook for prospective brokers & salesmen preparing to take...
An academic directory and search engine

Online Continuing Education is Here! - WWOCAR.com
Search for Members. Site Navigation. Home ... Real Estate Finance Today (6 hours) 2004 Michigan Real Estate Law (2 hours) ... MUST ALSO COMPLETE THE 2-HOUR MICHIGAN REAL ESTATE LAW COURSE TO MEET YOUR REQUIREMENT ...

Michigan real property law profession at Business.com
Search the Business Internet ®. Results for "Michigan real property law profession" Directory Categories. Legal Careers - and More. Over 1;600 jobs. Driven by American Lawyer Media. ...