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  • CARES Act and New Court Rules Impose Further Restrictions on Evictions

    By Procopio Associate Sara G. Neva and Partner Robert J. Brown Commercial and residential landlords should be aware that both a new federal law addressing the economic impact of COVID-19, as well as new emergency court rules, have imposed new restrictions on their operations. Two sections of the Coronavirus Aid, Relief, and Economic Security (CARES) Act signed into law on March 27, 2020, are of particular importance. Section 4024 of the CARES Act establishes a 120 day moratorium on ev...

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  • Proposed California Legislation Seeks to Expand Eviction Protections Including Rent Reduction

    By Procopio Associate Sara G. Neva and Partner Robert J. Brown The California Legislature is currently considering two COVID-19 response bills aimed at protecting both residential and commercial tenants regarding evictions, foreclosures and unlawful detainer actions. If signed into law, both bills would take effect immediately. While their ultimate fate is uncertain, it’s important for landlords to consider now how they might manage should one or both become law. Senate Bill 939 ...

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  • IRS Grants Much-Anticipated Section 1031 Extensions

    By Procopio Partner Robert J. Brown The Internal Revenue Service (IRS) on April 9, 2020, issued Notice 2020-23, providing the much-anticipated relief for taxpayers pursuing so-called “Section 1031” tax deferred exchanges. This extension allows exchanging taxpayers whose 45-day identification period or 180-day replacement property closing deadline falls after April 1, 2020, to extend that deadline until July 15, 2020. However, Notice 2020-23 extends the outside date for both identifica...

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