How elimination of 1031 exchange could impact RE investors; Rose Law Group Partner, Transactional Dept. Director Cameron Carter comments.

By Alyssa Tufts | AZBigMedia Real estate is one of Arizona’s most powerful economic drivers in Arizona. However, certain real estate investors could see a decline in profits and their income tax rate could increase if a plan Democratic Presidential nominee Joe Biden proposed is enacted. Biden recently announced a $775 billion plan to boost Child and Elderly care. The …

Retail landlords offer COVID clauses in new leases; Rose Law Group Partner, Transactional Dept. Director Cameron Carter comments

By  Esther Fung | The Wall Street Journal Retail landlords are including pandemic language in new leases, a previously rare feature as tenants seek protection after the first government-mandated coronavirus shutdowns in March complicated their negotiations for rent relief. Because many insurance policies didn’t cover pandemic-related losses, landlords have offered various concessions to attract and retain tenants, including allowing them …

Arizona launches program to assist rental property owners; a welcome relief, says Rose Law Group Partner, Transactional Dept. Director Cameron Carter

        By AZRE | AZ Big Media   Applications for Arizona’s Rental Property Owner Preservation Fund, providing assistance to rental property owners across the state who are facing a loss of rental income due to COVID-19, opened today.  Governor Doug Ducey announced $5 million for this Fund last month. All applications will be accepted on a rolling basis until the entire amount is awarded.   …

How a tax benefit for developers could backfire in pandemic; RLG Partner and Transactional Department Director Cameron Carter comments

By Paul Sullivan | New York Times Something remarkable is percolating in the commercial real estate market: Investors may end up losing millions in tax savings on gains from the sale of their properties because of the coronavirus pandemic. Like-kind real estate exchanges, also known as 1031 exchanges (after the provision in the Internal Revenue Code), allow investors to sell a …

Buyer Beware: The ‘AS-IS’ Clause and Warranty Disclaimer

By Rose Law Group Law Clerk Peter Furlow and Rose Law Group Partner Cameron Carter The condition of a property is often a focal point in the negotiation of a sales transaction. Buyers usually want certain assurances or warranties regarding the condition of the property. Sellers, on the other hand, want to limit their liability regarding the condition of the property. Perhaps the …

Waiting for distressed Valley multifamily deals? Nothing to see here, at least not yet

Twitter By Angela Gonzales | Phoenix Business Journal Out-of-state investors circling the Valley that are waiting to swoop in and buy distressed multifamily units in the region may be waiting a while. Cameron Carter, a partner at Phoenix-based Rose Law Group who is heading up a new practice group focused on strategic due diligence and opportunistic acquisitions, said he’s expecting some distress …

NAR sued over pocket listings policy; could have ‘significant impact,’ says Cameron Carter, RLG Partner and Transactional Department Director

By Candace Taylor | Wall Street Journal The real-estate industry’s largest trade association, the National Association of Realtors, and two of its affiliates are facing a federal antitrust lawsuit challenging a new rule that effectively bans NAR members from marketing homes privately, or “off-market.” The lawsuit was filed Monday in the U.S. District Court for the Northern District of California …

IRS Extends Deadlines For 1031, Opportunity Zone Investors; RLG Partner Cameron Carter Comments

By Jarred Schenke | Bisnow Atlanta Investors who have like-kind exchange or opportunity zone deadlines between April 1 and July 15 now have a little more time to close their deals. The IRS issued new guidance Thursday night that granted all taxpayers, including “trusts, estates, corporations and other non-corporate tax filers” a filing extension until July 15. The National Association of Realtors told its members the …

What if I can’t pay my mortgage? RLG Transactional Dept. Director Cameron Carter comments

By Catherine Reagor | The Republic Foreclosures recently hit a 15-year low in metro Phoenix but could quickly climb as more homeowners can’t pay their mortgage because they lost income or jobs during the COVID-19 pandemic. Already, a record number of Arizonans have applied for unemployment benefits as businesses have shuttered or scaled back operations to slow the spread of the coronavirus. Help is being …