Below, you will find a general checklist that will help those considering acquiring, financing or developing a property on which exists or is built a qualified care facility. This checklist relates to the purchase of the interest on the royalty and not to the transfer of the underlying transactions. The ideal first step before acquiring real estate, including a health-related property, is to conduct an appropriate due diligence investigation. The results of a buyer`s investigation should draw the buyer`s attention to facts or key issues relevant to the use of the property as a qualified care facility or for any potential secondary use. As a general rule, a seller of commercial real estate will negotiate in such a way that his liability is limited to the insurance and guarantees expressly provided by the seller in the sales and sale contract signed between the seller and the buyer. As a result, the onus is on the buyer to exercise due diligence (i.e.: The consideration and determination of the appropriateness of facts or problematic questions regarding the purchase of the property. Even if the seller provides a contractual representation and/or guarantee on the state of affairs in the property, this should not replace the duty of vigilance, since such insurance or guarantee can offer the purchaser only a limited remedy or a challenge to the execution or enforcement of the forfeiture. The following non-exhaustive checklist is intended to provide the buyer with a general guide to conducting a due diligence investigation valid for a property that must be used as a qualified care facility. Keep in mind that this checklist has been drawn up from the buyer/borrower`s perspective and that the scope and centre of gravity of any due diligence investigation will depend on which part of the investigation will be conducted, as it will vary depending on the role of the party in the transaction. Similarly, factors such as the location of the property in question, the intended use of the property, whether it is profit-oriented or not, and other factors specific to the activity determine the additional due diligence to be carried out. “I find the articles in Lexology Newsfeed very relevant and current on a wide range of topics of interest to my areas of practice.
The authors are reliable and current on the subjects on which they speak. Even though several law firms write on the same subject, I can often read new perspectives and perspectives in different law firms. Titles are also useful because they describe the subject in a concomitant and precise way and allow me to quickly and efficiently decide what I can read in detail or not. THIS OPERATION TRANSFER AGREEMENT (this “agreement”) will be concluded and concluded on March 6, 2013 (effective date) between Cumberland and Ohio Co. of Texas, a Tennessee company (“receiver”), in its capacity as a court-appointed recipient pursuant to the Tennessee Code Annotated . 48-64-303 of SeniorTrust of Florida, Inc., a Tennessee non-profit company (“SeniorTrust”) that is the sole member of the owners on the attached schedule of Plan A-1 and who have been part of it (“Property Owners”). (Recipients, seniorTrust and Property Owners are collectively referred to as “owners” and the new operators listed in Schedule A-2 who were part of schedule A-2, or their agents (together “NEW OPERATORs”).
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