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Finance, Real Estate & Bankruptcy News
  
  

May 28, 2020

As the State of Michigan slowly begins to reopen, there are still many uncertainties in regards to bankruptcy, creditor-debtor rights and real estate. Below are some articles and resources to assist with some of these uncertainties.

In this issue:

  

  

  
   Past Due   

Giving Debtors a Break During COVID-19: How to be Flexible But Still Protect Your Rights

Times are tough, and the rallying cry that “we’re all in this together” is being taken to heart by many creditors who are making financial accommodations to debtors. While accommodation may be the altruistic thing to do, and in many cases is a smart business decision, it shouldn’t be undertaken without careful consideration and thorough legal review...

  

  

  
   Hand Holding House   

Amendment to Michigan Marketable Record Title Act Requires Land Owners to Take Action to Preserve Certain Rights

James B. Doezema and Patricia J. Scott

A recent amendment to Michigan’s Marketable Record Title Act (the “Act”) requires, in certain circumstances, property owners to file a claim of interest with the register of deeds by March 28, 2021, in order to preserve restrictive covenants and other limitations related to property...

  

  

  
  

Contact us with Your Bankruptcy Concerns

There is expected to be a large uptick in bankruptcies in the coming months due to the current crisis, so please contact us with any question related to bankruptcy matters or concerns. No question is too big or too small. Your Foster Swift Bankruptcy Team is here and willing to assist:

  

  

  
  

Coronavirus Resources to Aid Michigan Businesses

During these difficult times, the Foster Swift law firm has been consistently updating a resource page relevant to the current pandemic and its impact on Michigan's small businesses, financial institutions, municipalities and other entities. This resource page is dedicated to providing attorney-written articles and recorded podcasts/webinars, along with other online resources relevant to Coronavirus/COVID-19 and its impact on numerous aspects of professional life.

Please note that while the articles on the resource page were accurate at the time of their publishing, due to constantly evolving laws and regulations, please consult your attorney and/or advisor to make sure you have the most current information available before taking action.

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Southfield

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Detroit

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Holland

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St Joseph

  

Foster Swift Collins & Smith, PC E-Newsletters are intended for general information for our clients and friends. This newsletter highlights specific areas of law and is not legal advice. The reader should consult an attorney to determine how this information applies to any specific situation.

IRS Circular 230 Notice: To ensure compliance with requirements imposed by the IRS, we inform you that any U.S. tax advice contained in this communication is not intended to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any transaction or matter addressed in this communication.

Copyright © 2020 Foster Swift Collins & Smith, PC.

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