Pursuing Defaulting Tenants — Careful What You Wish For

Law360, New York (May 7, 2012, 12:49 PM EDT) -- In a recent decision, the Court of Appeal of the State of California, for the Second Appellate District, underscored that now, more than ever, transactional and litigation counsel representing real estate clients must have a comprehensive understanding of all of the agreements affecting a property.

In the wake of the collapse of the real estate markets, lenders will look to all means possible to enforce personal guaranties and attempt to recover deficiencies when the secured real property is insufficient to satisfy the underlying debt. Unless counsel...
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