OREO Assets: Successfully Managing The Transition From Lender To Owner
8.5.09
Events
Jeffrey Masters and Adam Weissburg will participate as speakers in this two hour webinar.
Webinar Description: When acquiring troubled real estate assets and stepping into the role of owner, banks face heightened legal liability exposures and daunting practical issues. Successful management of OREO properties requires that banks implement strategies to minimize risks and to preserve and maximize value. We will offer best practices for acquiring and managing OREO properties, particularly residential and mixed use assets.
The webinar will provide a legal and practical roadmap for handling OREO assets, including:
- Asset due diligence review, including property condition assessment reports (PCARs), construction status, title, entitlements, environmental issues and Department of Real Estate approvals.
- Strategic decisionmaking in workouts, including the bank’s options and legal remedies.
- The bank’s legal liabilities as OREO owner
- Evaluating existing insurance coverages and restructuring or replacing the coverages
- Asset preservation strategies
- Using a receiver to manage and dispose of the asset
