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Self-Study

2021 Drafting Guarantees in Real Estate Transactions


Total Credits: 1.2 Self Study

Practice Area:
Real Property
License:
Access for 1 year(s) after purchase.


Description

Guarantees undergird most real estate transactions.  Lenders, investors and others are often unwilling or unable to finance or otherwise support a real estate transaction without certain substantial guarantees.  These guarantees may concern repayment of loan proceeds or performance of other services – construction, maintenance and waste prevention, environmental indemnity, etc.  The scope of guarantees is highly negotiated, particularly whether the guarantee is recourse or non-recourse and the scope of carve-outs from the guarantees. This program will provide you with a practical guide to negotiating and drafting guarantees in real estate transactions.   

  • Types of guarantees – payment, performance, collection, completion 
  • Essential elements of a guarantee – consideration, scope, carve-outs, waivers 
  • Guarantees for property maintenance/no waste, environmental indemnity and other non-financial concerns 
  • Carve-outs – full v. partial, fraud, misappropriation, misapplication, failure to maintain, insurance, and more 
  • Guarantees of construction loans 

Note: This material qualifies for self-study credit only. Pursuant to Regulation 15.04.5, a lawyer may receive up to six hours of self-study credit in a reporting year. Self-study programs do not qualify for GAL Certification, ethics, elimination of bias or Kansas credit.

Materials

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