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Author: Nate Somers

9Nov 2018

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Author Nate Somers

The Importance of an Operating Agreement to Family Businesses

  • Nov 9, 2018
  • Nate Somers
  • Business Law
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For family businesses organized as limited liability companies, an operating agreement is critical to maintaining ownership within the family, providing clear direction to management in the face of complicated family dynamics, and offering stability when individual family members wish to…

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19Mar 2018

Nate Somers dark gray suit

Author Nate Somers

Significant Changes to Partnership Audit Rules Require Planning

  • Mar 19, 2018
  • Nate Somers
  • Business Law
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In November 2015, Congress enacted as part of the Bipartisan Budget Act of 2015 (the “BBA”) partnership audit rules designed to make it easier for the IRS to examine partnerships and collect any resulting underpayments through one centralized proceeding. With limited…

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4Oct 2017

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Author Nate Somers

When a Retail Tenant Goes Dark – Part Two

  • Oct 4, 2017
  • Nate Somers
  • Business Law, Real Estate Law
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This post follows up on a prior article addressing the myriad issues that can occur when a retail tenant abandons the premises before the expiration of the lease term: When A Retail Tenant Goes Dark – Part One. This is a growing…

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21Sep 2017

Nate Somers dark gray suit

Author Nate Somers

When A Retail Tenant Goes Dark – Part One

  • Sep 21, 2017
  • Nate Somers
  • Business Law, Real Estate Law
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Despite strong consumer confidence and the lowest unemployment level in a decade, retail defaults this year are expected to surpass those in 2009 when the economy was in the throes of the Great Recession. Sorry, We're Closed, The Economist, May…

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30Jan 2017

Nate Somers dark gray suit

Author Nate Somers

Seattle Imposes New Caps on Move-in Fees

  • Jan 30, 2017
  • Nate Somers
  • Real Estate Law
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Effective January 15, 2017, Seattle residential landlords must comply with a host of new rules relating to the move-in fees they charge to tenants. This is the latest of several measures implemented under the recommendation of the Seattle Housing Affordability…

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18Mar 2014

Nate Somers dark gray suit

Author Nate Somers

Commercial Guarantors are Still on the Hook Even After Non-Judicial Foreclosure, Says Division I

  • Mar 18, 2014
  • Nate Somers
  • Business Law, Litigation, Real Estate Law
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The Division I Court of Appeals recently split with Division II and held that a lender retains the right to pursue a deficiency action against commercial guarantors after nonjudicially foreclosing on deeds of trust securing the underlying loans. Washington Fed.…

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4Feb 2014

Nate Somers dark gray suit

Author Nate Somers

The Washington Deed of Trust Act May Bar a Deficiency Judgment Against a Commercial Guarantor

  • Feb 4, 2014
  • Nate Somers
  • Business Law, Creditor Debtor, Real Estate Law
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The Division II Court of Appeals recently decided that the Washington Deeds of Trust Act prohibited a lender from obtaining a deficiency judgment against a commercial guarantor where the guaranty was secured by nonjudicially foreclosed deeds of trust. First-Citizens Bank…

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