Experienced legal guidance for corporations, community associations, local governments and individuals

 

Nuts & Bolts of Real Estate Acquisitions by Municipalities and County Governments

 

Pre-Acquisition Requirements

  • Authority to Negotiate/Acquire
  • Option Contract or Purchase Contract
  • Indemnification Issues
  • Gratuity Issues
  • Statutory Considerations

Due Diligence/Inspection Period

  • Survey
  • Title/Tax Reports
  • Environmental Report
  • Appraisal
  • Flood Determination
  • Development Easements/Construction Related Issues
  • Engineering/Inspection/Environmental Reports for Existing Facilities
  • Zoning Considerations

Closing Process

  • Exercise of Option/Notice to Seller of Closing Date
  • Timing and Place of Closing
  • Funding of Acquisition
  • Authority to Execute Documents
  • Nature and Type of Transaction
    • Exchange
    • Donation
    • Sale (O.C.G.A. § 36-9-3)
    • Purchase
  • Deed Restrictions/Title/Survey Issues

Documents to Close

  • Prepare Complete Checklist of All Documents

Post Closing Obligations

  • Lease
  • Escrow Items
  • Post Closing Occupancy
  • Attorney Due Diligence Summary Letter
  • Owners Title Insurance

Alternatives to Purchase

  • Donation/Tax Considerations
  • Conservation Easements

 

Atlanta Law Firm
2987 Clairmont Road, Suite 350
Atlanta, Georgia 30329
Tel (770) 457-7000
Fax (770) 455-3555

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Perry Law Firm
107 Constance Court
Perry, Georgia 31069
Tel (404) 924-4843