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Owners and lawyers react to recent embassy decisions. (foreign leases)
- Article from:
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Real Estate Weekly
- Article date:
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July 26, 1995
- Author:
- Weiss, Lois
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Copyright informationCOPYRIGHT 1995 Hagedorn Publication. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The real estate industry has been renting space to the diplomatic community for many decades and has in most cases, come to terms with the foreign governments. Nevertheless, recent incidents have caused attorneys, owners and building managers to re-think policies and consider tactics that might be used as defenses before renting to missions.
Waivers of certain immunities, letters of credit, higher rental amounts, being picky about the country, and resorting to self-help with the blessing of the State Department were some items suggested - and in some cases qualified - by real estate experts.
Real estate transactional and finance lawyer Kevin R. Hackett, a partner with Fried ...