This episode of Inside R&E, moderated by Dave Lorenzo, Founder of Exit Success Lab, features Richard Y. Im, a Member in R&E’s Litigation Department, and Jason C. Bergman, Vice President & Senior Underwriting Counsel at Benchmark Title Agency LLC. The attorneys share valuable insights on Deed-in-Lieu and its pros and cons for borrowers as well as lenders. They also discuss the various risks and considerations associated with Deeds-in-Lieu.

During the conversation, Richard and Jason talk to Dave about what a Deed in Lieu of Foreclosure is, how the process is initiated and elaborate on its benefits as well as drawbacks to both borrowers and lenders. Additionally, Richard and Jason also provide useful pointers on transfer taxes associated with a Deed in Lieu transaction, the risks associated with it for the title industry, and the resulting title requirements to guard against such risks. They also share their perspectives on why it is important to consult with an attorney when considering proceeding with a Deed in Lieu.

Richard Y. Im concentrates his practice on complex commercial litigation, with a particular focus on creditors' rights and real estate disputes. He has extensive experience in all aspects of real estate litigation including commercial foreclosures, lender liability claims, title issues, priority disputes, mechanic's liens, contract and joint venture disputes, construction claims, access agreements, brokerage matters and other issues. He also represents lenders, borrowers and investors in loan workouts, restructurings and modifications and the purchase and sale of distressed debt.

Jason C. Bergman has nearly two decades of experience in the real estate/title insurance industry. He has extensive experience in assessing and mitigating risk in complex transactions and ambiguous situations, and is recognized as an industry leader in insuring foreclosures and distressed assets. He is a A fellow of the American College of Mortgage Attorneys (ACMA) and was also awarded the CRE® credential by the Counselors of Real Estate.

For any questions related to this episode, contact Richard Y. Im at rim@rosenbergestis.com or (212) 551-8435. Jason C. Bergman can be reached at jbergman@benchmarkta.com or (516) 426-5670.

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