An understandable upshot of the COVID-19 pandemic is that many aspects of the real estate market are in flux. In some ways, business remains surprisingly close to normal, with local real estate brokers reporting a steady interest in selling and buying Humboldt County property. Of course, navigating the regulations and best practices applicable to brokers could merit a separate blog post of its own.
In many other ways, the courts, legislatures, and private parties are trying their level best to adapt to current circumstances. Evictions and foreclosures in California are effectively on hold, with very limited exceptions, because of Emergency Orders issued by the Judicial Council, the body that governs California’s state court system. The process by which a lender or landlord seeks to move forward by showing that their case fits within the exception is being developed in the trial court, without the benefit of case authority from the Supreme Court or Court of Appeal that would instruct or clarify either the substance of the Order or that process.
As between private parties, landlords and tenants, particularly with commercial property, are renegotiating leases. Landlords understandably want to continue to receive some income, while tenants are constrained in terms of what they are able to pay by reduced cash flow and for some nonessential businesses, a total disruption of their business altogether. Similarly, borrowers are seeking forbearance, deferment, or altogether new terms to attempt to address, sometimes quite creatively, the practical realities of the moment.
Having responsive and informed legal counsel can help. Contact Janssen Malloy LLP and its team of capable attorneys and paralegals for assistance.