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Product ID: 388695EAU
Credit & Course Provided by:

Post-Closing Obligations in Complex Real Estate Transactions

OnDemand Webinar (89 minutes)

There is no doubting the adrenaline rush occasioned by the closing of a transaction, as clients and attorneys collaborate to bring a deal over the goal line. However, in most real estate finance transactions, closing represents only the beginning of a continuing relationship between deal parties. This OnDemand Webinar will explore common issues and obligations of parties to real estate transactions after the deal has closed.

Learning Objectives:

  • You will be able to review the importance of developing workable time frames.
  • You will be able to describe reallocation of mortgage and mezzanine debt.
  • You will be able to define custodial deliveries.
  • You will be able to discuss post closing transfers, defeasances and other common consent requests.


Matthew T. Clark, Dechert LLP
Jason S. Rozes, Dechert LLP


The Post Closing Letter

• Appropriate Uses of Post-Closing Letters - When Is It 'Ok' to Take Something Post Closing?

• Common Subjects of Post Closing Letters

- Final Surveys/Title Policies

- Recorded Documents

- Filed UCCs


- Tenant Estoppels

- Refinancing Lender Lien Releases

- Hedging Arrangements/Rate Caps

• Time Frames for Delivery

• Remedies

- Default

- Fees or Other Monetary Penalties

Common Borrower Post-Closing Tasks

• Tenant Direction Letters

• Notices To:

- Ground Lessors

- Condominium Boards

- Hotel Managers/Franchisors

- REA Parties


• Other Common Items

Special Considerations for Securitized Loans

• Delivery of Loan File to Custodian

• Servicing Agreement

• MLPA Rep Exceptions

• Loan Summaries/Rating Agency Review

• Assignment Documents in Blank

Other Common Considerations

• Further Assurance Clauses and Scriveners' Errors

• To Slip Page or Amend?

• Responsibility for Post-Closing Transactional Costs

• Reallocation of Debt Between Mortgage and Mezzanine Debt

• 'Commercially Reasonable Efforts' Versus 'Best Efforts' Standard

• Common Borrower Consent Requests:

- Transfers

- Defeasance

- Leases