In March 2020, businesses worldwide closed their doors to slow the spread of the COVID-19 pandemic. Some suppliers struggled to fulfill orders, while some buyers suddenly found themselves with more products than they could reasonably sell due to reduced customer traffic. Tenants struggled to pay rent, while landlords struggled to pay their mortgages.
The COVID-19 pandemic has had a profound impact on our economy. Read on to learn more about the effects of COVID-19 on commercial contracts, and how it has shaped them for the future. Read More ›
The COVID-19 pandemic has left many families struggling to make their financial ends meet. According to CoreLogic, 7.3% of mortgages in the US were in some form of delinquency in May 2020—the highest rate since August 2014. Delinquency rates have increased in every state across the US. Severely delinquent mortgages (90+ days past due) may be at risk of foreclosure.
The Pre-Foreclosure Process
Before a foreclosed property can be sold, the borrower must be properly notified in accordance with the federal Fair Debt Collection Practices Act (FDCPA; 15 U.S.C. Read More ›
Plenty of businesses are feeling the pinch of decreased sales due to COVID-19, and that has many business owners facing the prospect of declaring bankruptcy. It’s important to remember, however, that despite the stigma bankruptcy is a tool designed to help people struggling with debt. Let’s take a look at SARE entities and their options for navigating bankruptcy proceedings.
What is a SARE Entity?
Single Asset Real Estate (SARE) entities are real estate companies that own a single property and draw all their income from the renting of that property. Read More ›
COVID-19 has made everyone concerned about their family’s health and safety, but it is still important to consider is how your family will be taken care of in the event of an unexpected loss. This is where HooverSlavacek LLP can help, with our estate planning options and services.
Let’s talk about 4 things everyone can do to better secure their family’s future after they are gone.
Draft a Will
Wills are often the first thing people think of with regard to estate planning, and for good reason. Read More ›
By: Nina A. Tran
If you live in a community governed by a property owners association (“POA”) requiring mandatory membership, you are probably also familiar with the requirement to pay the POA maintenance fees or assessments (“Assessments”). The obligation to pay Assessments can generally be found in the POA governing documents, and more often than not in a document entitled Declaration of Covenants, Conditions and Restrictions, or similarly titled document, that is recorded in the real property records of the county in which your property is located. Read More ›
By: Howard M. Bookstaff, General Counsel
We are seeing more positive test results every day. Many apartment communities have had residents test positive. Chances are that you will also see employees test positive. What should you do when an employee is not feeling well? What actions should you take if the employee tests positive? Who should you tell?
What should I do if an employee is not feeling well?
If any employee is not feeling well at work, they should go home and contact their healthcare provider. Read More ›
This past Friday the Coronavirus Aid, Relief and Economic Security (“CARES”) Act was signed into law; it is a massive $2 trillion economic stimulus package designed, in large part, to offer some relief for the nation’s small businesses and millions of laid-off workers. Hopefully this article will assist with digesting this complex and lengthy new law. Attached hereto are the following:
- A section-by-section general summary of Division A of the CARES Act (the “Paycheck Protection Loan” provisions);
- A chart-form summary of said Paycheck Protection Loan provisions;
- An index of all sections of the CARES Act to assist in locating what provisions may or may not be applicable to your business;
- A copy of the entire text of the CARES Act, which can also be found at this link:
https://www.congress.gov/bill/116th-congress/house-bill/748/text?fbclid=IwAR2AXKE3vgiEa-HruPEivIO_Mwek_X5mjmIjqkG1FLzczQeihGIQ9E-J4KA Read More ›
Our Partners and administrative staff have been in continuous communication regarding the ongoing Coronavirus (COVID-19). We are closely monitoring the COVID-19 situation and coordinating with local and state health departments and the CDC for answers to pressing questions from our clients. We are adjusting the way we work to provide uninterrupted service to our clients in a world of social distancing and stay at home orders. There are difficult weeks ahead, but we will be available to help you respond to challenging conditions. Read More ›
COVID-19 has the world’s attention. By now, you’ve received multiple notices regarding preventive measures you can and should take to minimize risk of harm to you, your family and co-workers.
We all have been inundated with stories of people having to self-quarantine and self-isolate. Schools and businesses have developed plans requiring students and employees to stay home if they are feeling ill or have been around someone that may have the virus. Others have decided to self-quarantine if they have been in public gatherings with persons that may have tested positive for the virus. Read More ›
Click here to see attorney-specific designations in The Best Lawyers in America©. Read More ›