As relations between the United States and Russia continue to deteriorate after the U.S. joined Germany in pledging battle tanks to Ukraine in early February 2023, many people are wondering if this will worsen the impact that sanctions have already had on Florida real estate. Here’s what to know.

Seller Due Diligence 

Commercial real estate owners and sellers should be on the watch for Russian oligarchs or their family members attempting to evade American sanctions by investing in multifamily homes and retail property. 

There are a few things you can look for that may indicate this:

• The client is on the OFAC list of Specially Designated Nationals and Blocked Persons.
• The client is based in or has significant operations in a sanctioned country.
• The client tries to structure their purchase through shell companies or other entities to conceal their identity.
• The client is particularly interested in purchasing property in cash.
• The client is reluctant to provide information about their financial history or sources of income.
• The party has been involved in activities that violate U.S. export control laws or International Emergency Economic Powers Act (IEEPA).

If you have any suspicion that your client may be violating Russian sanctions, you should consult with an attorney before proceeding with the transaction. Violating sanctions don’t just have penalties for Russians – you too can incur civil penalties of up to $356,579 or double the amount of the transaction, whichever happens to be greater.

Strategies For Florida Real Estate Sellers To Mitigate The Impact Of Russian Sanctions

There are many ways that Florida real estate sellers can help mitigate the impact of Russian sanctions on their client base and bottom line. First, diversifying your client base can help you establish new relationships in different markets, so you can continue to do business regardless of how strict the sanctions against Russia get. 

Another strategy that Florida real estate sellers can use to mitigate the impact of the sanctions is to seek out alternative financing solutions. This could involve partnering with developers who are willing to provide financing for projects or working with lenders who are not affected by the sanctions. 

Feinstein Real Estate Litigation & Business Law is an experienced South Florida law firm that is committed to helping property investors and developers succeed. Call now at 954-767-9662. Serving Fort Lauderdale and surrounding areas.

If you’re a Florida property owner, it’s important to understand the basics of an implied warranty of workmanship. This warranty is typically included in construction contracts and protects owners if their home is not constructed according to the agreed-upon plans or specifications. Here’s what you need to know and how to get help from a construction litigation attorney. 

Defining An Implied Warranty Of Workmanship 

An implied warranty of workmanship is a legal promise that a contractor’s or builder’s work will meet certain minimum standards. In Florida, these standards are outlined in the state’s Building Code. The implied warranty of workmanship is “implied” because it is not specifically stated in the contract between the property owner and the contractor but is instead a legal requirement imposed on contractors by the state.

What Does The Warranty Cover?

Workmanship warranties generally cover any defects that arise within the course of construction, including both defects that arise from problems with materials to those that are the result of poor labor practices. For example, if a contractor uses subpar materials that result in damage to the property, the property may be able to file a claim under the warranty of workmanship.

Exceptions To The Warranty Of Workmanship

The warranty of workmanship does not cover every possible problem that could arise with a construction project. For example, problems that are caused by neither the contractor’s work nor the materials they selected are unlikely to be compensable under a workmanship warranty. 

Contractors may also not be liable for issues caused by developers whom they permit to proceed after a problem has been identified, or for problems that arise after construction has been completed that aren’t directly related to development. 

How A Real Estate Litigation Firm Can Assist You 

An experienced Florida real estate litigation firm can help you identify the causes of construction defects, who may be responsible, and offer sound legal advice on how to move forward. 

They can also assist with filing the necessary paperwork and negotiating with the contractor to ensure that you are given a fair resolution. Your attorney can assist with gathering evidence to support your claims, including photographs and statements, and can negotiate for a settlement in your favor. 

Contact Feinstein Real Estate Litigation & Business Law for a consultation to learn more by dialing 954-767-9662 or filling out our short contact form below.