Commercial Real Estate

Commercial Real Estate

Commercial RE page photoThe Law Office of Harold F. Moody, Jr., P.C. concentrates a large percentage of its practice in Commercial Real Estate. The firm represents several local (and national) banks as commercial closing attorneys (including Eastern Bank and Rockland Trust Company). We have handled hundreds of commercial purchases, refinances and modifications to existing loan facilities over the past decade. Our attentiveness and flexibility allows our firm to draft loan documents specifically tailored to the lender’s (and borrower’s) particular circumstance. Adequately securing a lender’s collateral position and providing clear, concise documentation of the loan facility’s terms and conditions has caused our Commercial Real Estate practice to grow and to flourish.

Attorney Moody recently completed the national seminar affording him with the skills (and certification) necessary to close Small Business Association loan facilities. This additional skill and qualification allows concurrent representation for businesses taking advantage of the many SBA loan programs (including the SBA 504 loan program) available to encourage the growth and development of small businesses throughout the region. With concurrent representation (after full disclosure and consent) our office can help minimize the closing costs ordinarily associated with such multi-layered transactions. Our office familiarity with the SBA programs can assist the borrower/buyer with navigating (together with the Certified Development Company) the sometimes cumbersome processes of the advantageous SBA loan programs.

Buyers, Sellers, Brokers, Investors and Lenders all benefit from the knowledge and experience our firm possesses in the Commercial Real Estate sector. Contact Attorney Harold F. Moody, Jr., Attorney Christopher Knoth or one of our staff members today to have your inquiry promptly and informatively responded to.

Recent Posts

A Declaration of Homestead can provide protection for a multi-use property – Appeals Court upholds lower court decision.

Back in April of this year Attorney Christopher Knoth posted a blog reporting on a Bankruptcy court decision where the Homestead protections pursuant to Massachusetts General Laws Chapter 188 were found to be available to a mixed-use property.  Last week the Bankruptcy Appeals Court confirmed that decision making several noteworthy points.

The Court specifically noted that the Massachusetts Supreme Judicial Court had admonished (in a topic related decision) that the intended public policy and the purpose of the Homestead Act should cause courts to construe the homestead exemptions liberally in favor of debtors.  Consequently the Court held that the mere use of a residence for non-residential purposes, at least when the predominant purpose is residential, does not, by itself, preclude an exemption for the Property.

Although counsel for the appellant argued that any non-residential use of a structure would exempt it from the protections of the Homestead statute (citing that the statute itself specifically defined the properties which could enjoy the protection) the Court firmly rejected that argument (invoking our presently undefeated local professional football franchise to illustrate): “If a homeowner in Foxborough were to rent out her driveway to Patriots fans on Gillette Stadium game-days . . . it defies intuition to think she no longer lives in a single-family dwelling.”

It is still important to note that the Court did not mandate a hard and fast rule but rather indicated that evaluations (to determine a property’s “primary” use) would ultimately be made on a “case by case” basis.

This case provides another clear demonstration that a Declaration of Homestead can be an invaluable protection for Massachusetts homeowners.  The current Homestead statute even allows its filing for a property held in Trust.  Additionally, the Massachusetts Homestead Law increases (doubles) protection amounts for the disabled as well as for homeowners 62 years of age or older.

Contact our office to make sure you have recorded a Declaration of Homestead for your principal residence in Massachusetts!

Attorney Harold F. Moody, Jr.

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