The recent pandemic and related economic downturn have caused numerous changes and challenges in real estate law, especially when it comes to negotiating contracts. This course, taught by Illinois real estate attorney Erica Crohn Minchella, will provide effective strategies for negotiating as landlords or tenants given business interruption for tenants, thoughts on how to pursue business interruption insurance claims to help provide a source of revenue for the payment of rent, suggestions for using a sale/leaseback provision to improve a business's cash position, and will examine how condo deconversions are working currently and might work moving forward given the changing face of residential tenancies. The condo diversion section of this course will be focused on Illinois law as an example, but the negotiation strategies provided are widely applicable and will be of use to attorneys nationwide.
Examine the role of the pandemic on Force Majeure, Frustration of Purpose or Impossibility provisions, and explore related negotiation tactics
Review negotiation tips for landlords or tenants bringing business interruption claims against insurance companies
Discuss sale/lease buybacks as an option to improve cash position
Examine the status of condo diversions and how they might change given the tidal wave of change facing residential tenancies
Erica is a graduate of Loyola University School of Law and has practiced law for 35 years, of which 33 have been in some form of her own firm. Jokingly referring to herself as a “distress real estate lawyer”, Erica concentrates her time, talents and passion on assisting clients to be well-informed about their real estate decisions, whether they are buying a home or an investment, as well as helping them get out of debt and to build a solid financial future. Her field of expertise includes the spectrum of conventional and distressed real property issues, foreclosure defense, short sale transactions, and counseling her clients in re-establishing their credit and becoming debt free and mortgage free.
She also advises investors in need of exit strategies for real estate deals gone sour as well as those who see the current market as a great place to invest, as well as home buyers who are purchasing conventional and distressed real estate. For five years in a row, Erica has been named a Leading Lawyer by the Leading Lawyers Network and has been named a Super Lawyer for 2017. The extent of her mentoring younger attorneys in her areas of concentration as well as marketing and law office management has been acknowledged in the Kathryn Barisa Rinella Mentoring Award, given to her by the Justinian Society of Lawyers.
Erica serves on the Boards of the Association of Foreclosure Defense Attorneys (Founder and President), and Illinois Real Estate Lawyers Association and is a Commissioner on the Village of Skokie Economic Development Commission. Currently, Erica is the 2016-17 Chair of the Illinois State Bar Association Real Estate Law Section Council. She is regularly invited to be on the faculty of continuing legal education programs on real estate issues. Her business and professional association memberships include the Justinian Society of Lawyers, Small Business Advocacy Council, Women’s Council of Realtors, Women’s Bar Association and the Skokie Chamber of Commerce. She has maintained her Real Estate License for over 25 years. The mother of two grown children, she has been married for over 32 years to her husband, Jim.
As a real estate practitioner, this course covered a lot of what I’m seeing in practice and would be very helpful for attorneys who may be struggling to deal with new post-COVID realities in real estate.
This is a great course.
Great presentation of current issues with a smart strategies suggested.
Erica is a terrific attorney and I enjoyed her presentation very much. Thank you!