By Atakelti Desta on July 22, 2015All states require that both real estate salespersons and real estate brokers be licensed by the state. While both perform many of the same duties, brokers are generally expected to complete more real estate education and have a more comprehensive familiarity with the laws affecting the sale of property. Massachusetts law requires that a salesperson be “engaged by a licensed broker” and “not conduct his own real estate business.” In spite of this requirement, brokers usually hire salespersons as independent contractors rather than traditional employees for general tax purposes.
By James B. Heffernan on February 4, 2015According to a recent NAIOP Massachusetts forum, Chinese foreign investment in U.S. commercial real estate has increased from $3 billion in 2013 to $6.6 billion in 2014. As a result, China is now only second to Canada in cross-boarder real estate investments.
By Erica P. Bigelow on February 18, 2014Almost every commercial property owner in the Commonwealth has encountered, if not personally used, a Massachusetts nominee trust - sometimes called a 'realty' trust. Often, new clients will tell me that an attorney (unidentified) told them to put their property in trust, or that they always put their properties into a trust.
By Howard L. Levin on December 6, 2013This year’s decision by the Massachusetts Supreme Judicial Court in 275 Washington Street Corp. v. Hudson River International, LLC, 465 Mass. 16 (2013) held that there was no reason to expand the common law remedy applicable to a general indemnity clause.
By James B. Heffernan on October 14, 2013Due to the credit crunch of the past few years and high interest rates on mezzanine financing, a new financing tool has emerged: the EB-5 Immigrant Investor Program. Enacted as part of the Immigration Act of 1990, the program is a great potential source of low interest financing for real estate developers. Of course, nothing comes easy and developers should be mindful that this source of funds does come with a few strings attached.