Modern Real Estate Transactions - CLE, Continuing Legal Education - ALI
Modern Real Estate Transactions
  • 45th Annual Advanced ALI CLE Course of Study and Live Video Webcast
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Available Online: | Coursebook

Why You Should Attend

This is THE course for commercial real estate attorneys who need solid, practical advice from experts to navigate the challenging real estate market. Take this course and learn useful strategies to apply to your practice immediately!


This comprehensive annual program has been specially tailored to address the needs of real estate practitioners. Comprising more than 18 hours of instruction (including one hour of ethics and professionalism), the course offers the unique opportunity to join top practitioners and faculty from across the country in an in-depth pragmatic study of commercial real estate transactions in today’s market.


All registrants receive ALI CLE's Course of Study Materials: Modern Real Estate Transactions. These substantial course materials are published specifically for this course and include analyses, checklists, and forms that serve as the basis for comments made by the faculty. The forms published in the course materials are the products of actual real estate transactions drawn from the faculty members’ diverse practices. The speakers analyze the concepts underlying the forms and discuss alternative provisions in a panel discussion format.


Time is reserved throughout the program to respond to registrants’ written questions. A reception for registrants and faculty at the conclusion of the Wednesday program provides additional networking opportunities.

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What You Will Learn

In addition to maintaining its traditional scope of modern commercial real estate practice — acquisition, due diligence, construction, financing, joint ventures, leases, title insurance, management, and disposition — this course offers cutting-edge analysis of the most vexing issues confronting practitioners today. In particular, the program’s expert faculty will:

dissect the key provisions in commercial leases, in options, in ground leases, and in opinion letters

explore the current world of financing and strategies to structure the best deal for your client

analyze purchase contracts from letters of intent through closing

pay special attention to bankruptcy and insolvency issues

review ownership structures, including joint ventures and LLCs, and their tax consequences

consider the real world value of traditional default remedies

discuss tax planning and consequences of various real estate transactions

examine the ethical considerations (and dilemmas) arising in real estate practice with reference to the most current Rules of Professional Conduct

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Who Should Attend

This course emphasizes the pragmatic rather than the theoretical, so it is for lawyers representing owners, developers, lenders, investors, landlords, and tenants.

However, the program and the course materials are useful to all lawyers in commercial real estate practices and to all real estate brokers, asset managers, and facilities managers. The course provides:

for experienced real estate practitioners, an overview and update

for newer attorneys entering into a real property specialty, a bridge-the-gap transition

for general practitioners occasionally involved in real estate transactions, a comprehensive reference

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Planning Chairs

John D. Hastie, Phillips Murrah P.C., Norman, Oklahoma (Chair Emeritus)

Kathryn Cochrane Murphy, Krokidas & Bluestein LLP, Boston

Mark A. Senn, Senn Visciano Canges P.C., Denver

Philip D. Weller, DLA Piper LLP (US), Dallas

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Peter Aitelli, Shartsis Friese LLP, San Francisco

John G. Cameron, Jr., Dickinson Wright PLLC, Grand Rapids, Michigan

Richard R. Goldberg, Ballard Spahr LLP, Philadelphia

Michael D. Hamilton, DLA Piper LLP (US), Los Angeles

Thomas F. Kaufman, Goulston & Storrs, P.C., Washington, D.C.

David R. Kuney, Sidley Austin LLP, Washington, D.C.

Stefan F. Tucker, Venable LLP, Washington, D.C.

Everett S. Ward, Quarles & Brady LLP, Chicago

Thomas M. Hennessey, ALI CLE Program Attorney, Content Production

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Program Schedule


7:30 a.m. Registration and Continental Breakfast

8:25 a.m. Administrative Remarks - ALI CLE Staff
Video Webcast Segment A

8:30 a.m. Introduction and Overview

8:40 a.m. Purchase Contracts from Letters of Intent through Due Diligence, including Survey and Title Review

10:30 a.m. Networking and Refreshment Break

10:45 a.m. Purchase Contracts from Due Diligence to Closing

12:00 p.m. Income Tax Consequences of Purchases and Sales, including Like-Kind Exchanges

12:30 p.m. Lunch Break
Video Webcast Segment B

2:00 p.m. Joint Ventures, Partnerships, LLCs, Series LLCs, and Other Entities: The Arrangements, including Capitalization, Waterfalls, Defaults, and Exit Strategies

3:30 p.m. Networking and Refreshment Break

3:45 p.m. Joint Ventures, Partnerships, LLCs, Series LLCs, and Other Entities: The Tax Consequences

4:30 p.m. Management and Brokerage Contracts

5:00 p.m. Adjournment for the Day
Networking Reception for Registrants and Faculty


8:00 a.m. Networking Session and Continental Breakfast
Video Webcast Segment C

8:30 a.m. Essential Lease Provisions: Premises, Term, and Rent

9:15 a.m. Essential Lease Provisions: Workletters, Operating Expenses, CAM, and Insurance

10:15 a.m. Networking and Refreshment Break

10:30 a.m. Federal Income Taxation of Tenant Improvements

10:45 a.m. Assignment and Subletting

11:15 a.m. Options: Expansion, Contraction, Purchase, Rights of First Refusal, and First Offer

11:45 a.m. Ground Leases

12:30 p.m. Lunch Break
Video Webcast Segment D

2:00 p.m. The Current Lending Market and the "New" Notions of Recourse

2:45 p.m. Construction Contracts

3:30 p.m. Networking and Refreshment Break

3:45 p.m. Letters: Opinion, Engagement, and "Others," including Email

5:00 p.m. Adjournment for the Day


8:00 a.m. Networking Session and Continental Breakfast
Video Webcast Segment E

8:30 a.m. A Primer on Real Estate in Bankruptcy

9:30 a.m. Bankruptcy of a Tenant or a Landlord

10:30 a.m. Dollars and Cents of Real Estate

11:00 a.m. Ethics and Professional Conduct

12:00 p.m. Adjournment

Total 60-minute hours of instruction: 16.25 hours, including one hour of ethics and professionalism

Suggested Prerequisite: Limited experience in legal practice in subject matter or completion of Basic CLE Course in subject matter

Educational Objective: Acquisition of knowledge and skills to develop proficiency as a practitioner; maintenance of professional competence as a practitioner; provision of information on recent legal developments; development of proficiency in performance of intricate and complex legal tasks within a narrow area

Level of Instruction: Advanced

Click Here for MCLE Credit Information

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Here's what registrants have said about this course:
The ALI CLE’s are consistently the best CLE’s available. The speakers are always excellent, as are the materials. This year’s Modern Real Estate Transaction’s was no exception.
This was all excellent CLE. Faculty was knowledgeable and presented well. Remarkably good. Thanks.
The faculty participants have real life expertise and are available and approachable, which I believe is a great benefit to attendees.
I have attended probably 25 of the last 30 meetings of this class…. I hope that you continue this course for many years to come. Thanks.
The materials are excellent. The panel played well off each other. I especially liked the true fact situations.
The give and take by the panel members is the best part at the course. The geographic diversity of the panel adds value. Each member of the panel provided good insights and a great feel of the dynamics of their real estate practice.
Fantastic! Thanks very much for putting this together!
I enjoy the format—it keeps my attention for a full day session. The speakers are very knowledgeable and enjoy their topics. I remain impressed by the fact that high dollar attorneys would spend so much non-billable time to hold this panel discussion.
I think this is one of the best CLEs I’ve ever attended, which I why I keep coming back. The panel is extremely knowledgeable and the material is always current. Great job!
Excellent program, speakers knowledgeable and presented well. The fact that they know each other and seem to get along made the program better because it encouraged dialogue among panel members, which enhanced the depth of presentation.
This is not my first time at this course. The materials, the presenters, the presentations are all of superior quality. The course is always full of discourse on present problems, not simply a reprise of course materials. It is practical and speaks to the current state of matters which each of us deal with in the practice of our profession.
I really enjoyed the lively discussions between panelists, it made the course more interesting.
I am a CPA, also an attorney. I practice as a CPA, many of my clients are in construction/real estate. This was very helpful for my general knowledge as I participate with my clients’ advisors. I really like the panel discussion format.
I have been attending this program for about 30 years. I have always found it to be excellent. Hope to see you again next year.
Very good course, delivered a lot of material in a short amount of time.

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