News & Analysis as of October 13, 2024

Loan Agreements

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The term "mortgage" typically refers to a mortgage loan. A mortgage loan is a financing instrument where an individual or business borrows money to purchase property (usually real property) and... more +

Scrivener’s Error in Guaranty Reformed Outside of Statute of Limitations and Held Enforceable

Morrison & Foerster LLP on 3/29/2024

In an appeal heard by the Appellate Division of the Supreme Court in the First Judicial Department of New York, the Court recently ruled that a court may reform a guaranty after the statute of limitations for a reformation of...more

Hotel Mortgage Holder Barred from Converting Mortgage Loan In Part to Mezzanine Loan

Morrison & Foerster LLP on 12/22/2023

In a case litigated in the New York Supreme Court, the Court recently ruled that a private equity firm that acquired a mortgage loan made on the Maxwell Hotel in New York does not have the authority necessary to convert...more

New York County Supreme Court Upholds Accommodation Pledges

White and Williams LLP on 8/28/2023

In recent years, the claim that an accommodation pledge attached to a mortgage loan effectively “clogs” a borrower’s right of redemption has been the basis of numerous civil actions in New York courts. With the case of Atlas...more

An Interesting Tale of New York’s One-Action Rule

Farrell Fritz, P.C. on 4/1/2022

As mortgage loan transactions continue to become increasingly complex, lenders often worry about the remedies they have if borrowers fail to live up to their obligations. In the event of a default, lenders have the choice...more

Financing Real Estate Projects in Los Cabos, Mexico

Snell & Wilmer on 2/21/2020

The development of real estate projects, including hotels and master planned communities in Los Cabos and other places in Mexico, commonly requires financing by banks and other institutional lenders. This article presents an...more

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