Blogs

Real Estate

Proposed Amendment to Virginia’s Constitution Could Limit Government’s Use of Eminent Domain

Virginia lawmakers moved in 2012 to amend the state constitution to further restrict the use of eminent domain in response to concerns raised by the U.S. Supreme Court’s decision in Kelo v. City of New London. In this Bean, Kinney & Korman article published in the BKK Construction & Land Use Newsletter, the analysis explains that the proposed amendment would limit eminent domain to strict public uses and make clear that economic development alone would no longer qualify as a sufficient…

March 1, 2012

Business and Financial Services

Tax Law: Engaging Appraisers for Closely-Held Business Interests

Valuing a closely held business can become critical in tax planning, litigation, financing, succession planning, and the sale of a business. In this Bean, Kinney & Korman article published in the BKK Business Law Newsletter, the analysis explains that qualified appraisers can help determine the value of closely held business interests by evaluating factors such as net worth, earning power, dividend-paying capacity, marketability, and minority ownership discounts. The article notes that…

March 1, 2012

Estate Planning

Safeguarding Frozen Embryos Through Estate Planning

Frozen embryos can create complex estate planning issues because state laws vary widely on whether embryos are treated as property, human life, or a special category in between. In this Bean, Kinney & Korman article published in the BKK Wills, Trusts and Estates Newsletter, the analysis explains that individuals undergoing in vitro fertilization should think carefully about what should happen to unused embryos in the event of death, incapacity, divorce, or failure to continue storage payments.…

February 1, 2012

Construction

A Landlord’s Duty to Mitigate. Part II.

We will discuss the commercial landlord’s duty to mitigate damages after a default by tenant in Washington, D.C., Virginia and Maryland. First, Washington, D.C. is as follows.

January 30, 2012

Construction

A Landlord’s Duty to Mitigate. Part I.

A Landlord’s Duty to Mitigate in Washington, D.C., Maryland and Virginia Under common law, a landlord had no duty to accept or procure a new tenant in order to mitigate damages (i.e., take reasonable action to avoid additional injury or loss) resulting from a tenant’s breach of a lease, including with respect to an abandonment…

January 10, 2012

Business and Financial Services

Fairfax Circuit Court Expands Jurisdiction in Conspiracy Cases

Virginia courts may exercise jurisdiction over out-of-state defendants when those defendants have sufficient contacts with the Commonwealth, even if they never physically lived or worked in Virginia. In this Bean, Kinney & Korman article published in the BKK Business Law Newsletter, James V. Irving explains that the Fairfax Circuit Court found jurisdiction existed over nonresident defendants in a business conspiracy case involving employees of a pharmaceutical company because they had directed…

January 1, 2012

Business and Financial Services

Finality of Orders in Reston Homeowners Association v. Ramirez

Under Virginia Supreme Court Rule 1:1, a court generally loses jurisdiction over a final order after 21 days unless the order has been suspended, modified, or vacated within that time. In this Bean, Kinney & Korman article published in the BKK Business Law Newsletter, James V. Irving explains that Reston Homeowners Association v. Ramirez illustrates how courts determine whether an order is truly final. The case involved a homeowners association seeking corrective action against a property…

January 1, 2012

Business and Financial Services

Virginia Supreme Court Limits Transfers of LLC Membership Interest

Virginia law distinguishes between a member’s “control interest” in an LLC and the member’s “financial interest,” and those two rights may not transfer together automatically. In this Bean, Kinney & Korman article published in the BKK Business Law Newsletter, James V. Irving explains that the Virginia Supreme Court’s decision in Ott v. Monroe held that an LLC member’s control rights may terminate upon death even when the member’s financial interest passes through a will or estate. The article…

January 1, 2012

Business and Financial Services

Virginia Narrows Employer Non-Competition Protections

Virginia employers received another warning in late 2011 that broad non-competition agreements were becoming increasingly difficult to enforce. In this Bean, Kinney & Korman article published in the BKK Construction & Land Use Newsletter, James V. Irving explains that the Home Paramount Pest Control Companies v. Shafer decision invalidated a non-compete provision that prohibited a former employee from working in nearly any capacity within the pest control industry. The court found the…

December 1, 2011

Business and Financial Services

Details Matter: Family Limited Liability Companies and 1031 Exchanges

Family limited liability companies and Section 1031 exchanges can offer important tax and estate planning benefits, but only if taxpayers follow the technical requirements precisely. In this Bean, Kinney & Korman article published in the BKK Wills, Trusts and Estates Newsletter, Jonathan C. Kinney explains that the IRS and the Tax Court have increasingly challenged family LLCs, family limited partnerships, and 1031 exchanges when taxpayers fail to satisfy even basic procedural requirements.…

November 1, 2011