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September 13, 2018

The New San Francisco Gross Receipts Ordinance: Taxing Commercial Property Owners to Fund Early Child Care And Education

On June 5, 2018, San Francisco voters passed Proposition C, which imposes a new gross receipts tax of 1 percent on revenues a business receives from leasing warehouse space in San Francisco and 3.5 percent on revenues a business receives from leasing certain qualifying commercial spaces in San Francisco. Proposition C becomes operative on January 1, 2019. The proceeds of these taxes will fund quality early care and education for young children and other public purposes.

July 16, 2018

Got Privity? Understanding Privity Of Estate And Privity Of Contract In California Real Property Leases

Parties to real estate contracts often change over time, whether as the result of an assignment, financing, or otherwise. Relatedly, additional parties (beyond those named in the underlying contract) may claim a property interest in the subject of such a contract, perhaps in connection with a security interest in the underlying fee in the form of a mortgage or a deed of trust, or a security interest in a leasehold estate by way of a leasehold mortgage.

May 1, 2018

Do You Feel Lucky, Banker? The Shaky Prospects For Financial Transactions With Marijuana-Related Businesses

Federal law prohibits the manufacture, possession, or use of marijuana for any purpose, including medical purposes. This prohibition notwithstanding, as of January of 2018, 29 states plus the District of Columbia have legalized marijuana for medical purposes, six states have legalized marijuana for recreational use, and Maine and Massachusetts have approved legalization measures that have not yet taken effect.