TCORS Attorneys in New London - Norwich CT Connecticut

Real Estate Transactions

The firm offers comprehensive services for commercial and residential real estate transactions. These services include representing buyers and sellers of land, commercial buildings and private homes and resolving complex real estate issues that often arise. TCORS assists its clients in avoiding the disputes and delays which frequently arise in connection with real estate transactions by actively participating in the preparation and negotiation of contracts of sale. We also oversee or conduct the due diligence functions required to close a transaction, including title examination, review of easements and other encumbrances, environmental reviews, and resolution of other issues needed to ensure a smooth transaction.

Acquisition and Development

We have comprehensive experience in the acquisition and development of all types of commercial real estate, including multi-family rental property, office buildings, hotels, warehouse and distribution facilities, single-family subdivisions, and common interest communities. We have represented clients within and outside of the State of Connecticut on the acquisition, development, financing, and construction of such properties. In this capacity, we prepare contracts of sale or purchase based on our extensive experience and tailored to meet the type and size of property involved. In development proposals, we prepare or review construction and architects agreements for owners and developers.

Sales

Our goal is to assist the client in achieving the timely and final disposition of its property with a minimum of continued liability. Where problems arise, we take a proactive role in advising both our client and counsel to the purchaser, where appropriate, on clarification of law, appropriate representations and warranties, escrow arrangements or insurance to arrive at a constructive solution, rather than prolonged negotiations.

Condominium and Common Interest Communities

Over the years, our Firm has been instrumental in the formation of numerous condominiums, planned unit developments and other forms of common interest communities. We have prepared both simple and complex declarations of condominiums, including development rights, special declarant rights and reciprocal easements. Where required, we have drafted public offering statements in accordance with the Common Interest Ownership Act to clarify the rights of purchasers and declarants to avoid later claims and confusion. We represent declarants in the development, financing, and sale of common interest units. We also counsel existing common interest communities on a wide range of topics including tax matters, collections, management issues, and corporate law issues. We have advised clients on the formation of common interest communities that are primarily aimed at senior citizens and are familiar with state and federal fair housing laws and other requirements for the lawful formation and operation of such communities.

Golf Course and Recreational Properties

Over the years, we have developed significant experience in the development, financing and operation of golf courses and other recreational properties. We are familiar with the economics of golf courses, as well as the permitting and environmental issues frequently associated with their development and operation. We recommend the appropriate governance structure for such communities and have also been involved in the formation of non-profit recreation clubs, including a tennis facility.

Leasing and Financing

We have substantial experience in all types of commercial leasing including shopping centers, office buildings, restaurants, multi-family properties and single user, triple net lease facilities. We have created variations of leases to fit particular situations, including step-up leases, percentage leases, and "quadruple net" leases, and counsel both tenants and landlords in related matters including subordination and non-disturbance issues and environmental due diligence and compliance. And we have represented individuals and companies on a local, state and national basis with respect to complicated mortgage financing of properties or groups of properties.

Section 1031 Tax Deferred Exchanges

Over the years, we have been involved in structuring and facilitating numerous tax deferred exchanges under Section 1031 of the Internal Revenue Code. We aid clients in structuring forward deferred exchanges where their property is first transferred and replacement property is subsequently designated and transferred back to the client. We were also one of the first firms in the state to conduct reverse deferred exchanges for which we established qualified entities to take title to replacement property and hold it while improvements were made or the relinquished property was exchanged. We have an in-house qualified intermediary that, where appropriate, can function as an escrow agent for exchanges so that we can provide "one stop shopping" which includes one or more of the following services: tax planning and structuring, preparation of purchase agreements or contracts of sale, arrangement of closing, preparation of exchange agreement in compliance with Section 1031, escrow qualified intermediary and escrow services and qualified exchange accommodation title holder services. We have successfully conducted deferred exchanges involving properties inside and outside the state of Connecticut and multiple relinquished properties or replacement properties.

Syndications and Joint Ventures

We have worked closely with our clients to assist in raising equity for the development of various real estate ventures. These syndications have included both developmental properties and existing properties. We are experienced in the negotiation and preparation of the limited partnership or operating agreements, private placement memorandum, federal securities and state blue sky compliance, and underwriting or syndication agreements that meet the requirements of state and federal law, protect developers and syndicators from liability claims, and clearly document the transaction to investors.

Construction Law

We negotiate, review or prepare architect and construction contracts for owners, architects or contractors. We have represented project participants in the mediation, arbitration or litigation of construction disputes. We are experienced in contract enforcement, including filings, prosecution and foreclosure of mechanics liens.