In a Law360.com article published on December 17th titled "4 Common Errors in Year-End Race to Seal Real Estate Deals," Simon Adams of the San Francisco office of Reed Smith offered his thoughts on the risks that appear when speed becomes a requirement of year end deals.
Andrew McIntyre of Law360 identifies the following common errors:
Punting Issues to 2016
Forgetting to Plan for Signings
Simon advises to "not assume your client representatives will
be readily available and in an office the day prior to closing when
last minute documentation may be signed." He uses an example
where he "has a transaction where a party is due to travel
overseas, and so we likely will have the partner take a limited
power of attorney."
Other problems with year end deals include:
Bypassing Bad Boy Carveouts
Skipping Safeguards
Privacy is Paramount
The full text of the article can be found here.
This article is presented for informational purposes only and is not intended to constitute legal advice.
