NJ.com reports: Bill passed by state Senate, headed to the Assembly in the Fall, would prevent municipalities from conducting routine inspections of apartment buildings or charge for them, making those duties the sole domain of the state. Opponents of the bill say the municipal inspections save lives. Meanwhile, supporters say the municipal inspections are redundant and an unnecessary cost.
The Great Recession has resulted in an inevitable increase in commercial loan defaults (See my post of November 15, 2010, “Lender/Tenant Concerns When a Landlord Defaults on Its Mortgage“). Any lender will tell you that it would rather avoid foreclosure for obvious reasons. Foreclosure is an expensive, lengthy, and sometimes risky process. A deed in lieu of foreclosure may be a viable alternative under the right circumstances, and its use in the commercial real estate market is on the rise.» Read More