Real Estate

PPP Loan Forgiveness Application

PPP Loan Forgiveness Application

On May 15, 2020, the U.S. Small Business Administration (SBA) announced its long-awaited forgiveness rules through the release of the PPP Loan Forgiveness Application. The application and accompanying instructions specify how loan recipients can apply for PPP loan forgiveness and allow companies to complete the detailed calculations to determine forgiveness amounts. The 11-page application package summarizes eligible and […]

Understanding the SBA’s New PPP Certification Guidance

Understanding the SBA’s  New PPP Certification Guidance

On April 24, 2020, President Trump signed into law the Paycheck Protection Program and Health Care Enhancement Act. In relevant part, this Act increases by $310 billion the funds appropriated for the PPP established on March 27, 2020, by the CARES Act. The Small Business Administration (SBA) has announced that new loans under this second tranche of […]

Senate Passes Keeping American Workers Paid and Employed Act as Part of Coronavirus Response

Senate Passes Keeping American Workers Paid and Employed Act as Part of Coronavirus Response

Late last evening, in a bold response to the crisis currently facing our country, the Senate passed the nearly $2 trillion Coronavirus Aid, Relief, and Economic Security (CARES) Act. This bill, known as Phase 3, is extremely beneficial for small business of all sizes and includes unique provisions to help provide liquidity and to help businesses […]

COVID-19 and Force Majeure

COVID-19 and Force Majeure

Unforeseeable circumstances – such as the outbreak of coronavirus (“COVID-19”) – that prevent a party from fulfilling its contractual duties may fall under the force majeure clause of that contract. However, a great deal depends on the nature of the event and its impact on the specific contract and its performance by the parties.  The […]

PRICE OF LLC MAY SET REAL ESTATE VALUE FOR TAX PURPOSES

Posted on in News, Real Estate
PRICE OF LLC MAY SET REAL ESTATE VALUE FOR TAX PURPOSES

Parties to real estate transactions frequently use the transfer of limited liability company membership interests instead of a deed to transfer ownership in the underlying real property. This may be done for a variety of reasons, including the avoidance of paying a conveyance fee. Historically, this method has also been used when the purchase price […]

APPLICATIONS FOR PROPERTY TAX REDUCTIONS DUE MARCH 31

Posted on in Business, News, Real Estate
APPLICATIONS FOR PROPERTY TAX REDUCTIONS DUE MARCH 31

Applications to attempt to lower residential and commercial real estate taxes are due March 31, so this is a good time for property owners to review the taxes they pay and analyze whether they should apply for a reduction. Property owners can apply to county Boards of Revision and potentially reduce the county’s valuation of their […]

THE NUN WON – PROPERTY TAX EXEMPTIONS

Posted on in Business, News, Nonprofit, Real Estate
THE NUN WON – PROPERTY TAX EXEMPTIONS

A so-called “home for the aged” can apply for real estate tax exemption under Section 5709.12 of the Ohio Revised Code. More familiar names for these homes may be residential care facility or nursing home. One requirement for exemption is that the facility “provide services for the life of each resident without regard to the resident’s ability […]

Weston Hurd Receives Regional and National Recognition in 2020 U.S. News & World Report and Best Lawyers® “Best Law Firms” List

Weston Hurd Receives Regional and National Recognition in 2020 U.S. News & World Report and Best Lawyers® “Best Law Firms” List

Weston Hurd LLP is pleased to announce that it has received one national and 15 metropolitan rankings in the recently released 2020 “Best Law Firms” list. According to the U.S. News/Best Lawyers press release, Best Law Firms “are recognized for professional excellence with consistently impressive ratings from clients and peers…Achieving a tiered ranking signals a unique combination of quality law practice and […]