November 2019

An informative e-newsletter for the Real Property Law Section of the State Bar of Michigan.

Avoid Pitfalls When Exercising Options

Avoid Pitfalls When Excersing Options

By Thomas M. Amon, Warner Norcross + Judd LLP

When advising a client who holds an option to buy property, or to renew a lease, counsel should be familiar with Michigan’s “strict compliance” rule. As stated by the Supreme Court: “[a]n option is but an offer, strict compliance with the terms of which is required; acceptance must be in compliance with the terms proposed by the option both as to the exact thing offered and within the time specified; otherwise the right is lost.” Le Baron Homes v. Pontiac House Fund, 319 Mich 310, 313; 29 NW2d 704 (1947).

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HUD Charges Developer, Architects with Discrimination under FHA

By Sarah R. Karl, Makower Abbate Guerra Wegner Vollmer PLLC

The U.S. Department of Housing & Urban Development (HUD) recently charged the developers and architects of a Brooklyn, New York, condominium with discrimination when the construction of the six-story, 40-unit building failed to meet the requirements of the Fair Housing Act (FHA) for multifamily housing.

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Legislative Report

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Interested in writing an article for the e-Newsletter? Contact co-editors Glen Zatz gzatz@bodmanlaw.com, Samuel Kilberg at SKilberg@dykema.com, or Pat Paruch pat.paruch50@gmail.com.

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The views and opinions expressed in these articles are those of the authors, and they do not reflect in any way the positions of the State Bar of Michigan or the Real Property Law Section. These columns are meant for informational purposes only and should not be construed as legal advice. IRS Circular 230 Disclosure: To ensure compliance with requirements imposed by the Internal Revenue Service, we inform you that any U.S. federal tax advice contained in this communication (including any attachments) was not intended or written to be used, and cannot be used, by any person for the purpose of (i) avoiding tax-related penalties or (ii) promoting, marketing, or recommending to another person any transaction or matter addressed in this communication.