In the bankruptcy context, an absolute assignment of leases safeguards the lender's rights and remedies to collect and use the rents generated from a mortgaged property both before and after ...
In May 2017, we highlighted the Sixth Circuit’s opinion in Town Center Flats. Briefly, Town Center Flats held that ownership of a commercial property’s rents transferred to a lender when (1) a ...
On June 24, 2022, Michigan passed the Michigan Uniform Assignment of Rents Act (MUARA). When it did, Michigan became the first state with a Uniform Assignment of Rents Act that expands the definition ...
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