Real Estate Provisions of the 2021 Appropriations Act: Emergency Rental Assistance and Extended Eviction Moratorium

Grants for Shuttered Venue Operators, Depreciation of Certain Residential Rental Property, Housing Cooperatives

Recording of a 90-minute premium CLE video webinar with Q&A


Conducted on Tuesday, March 30, 2021

Recorded event now available

or call 1-800-926-7926
Course Materials

This CLE course will provide real estate counsel with advice and guidance on the $2.3 trillion Consolidated Appropriations Act 2021 (CAA) provisions that relate directly to real estate. The panel will address the provisions that provide rental assistance and the extent and restrictions on the current eviction moratorium. Real estate counsel will be advised on the types of grants available for commercial property owners of closed venues and the new tax depreciation for residential rental properties.

Description

The 2021 CAA includes several provisions related to real estate, particularly leasing, that counsel should be familiar with as clients continue to seek legal assistance during this time of economic uncertainty.

Congress has extended both the eviction moratorium and rental assistance program. The regulations for applying for this assistance and qualifications are limited, and tenants should not presume any provision of the 2021 CAA will apply to them. Counsel must prepare to assist tenants in securing properties and current landlords in understanding its impact. On the consumer side, the current CAA provides several provisions that extend depreciation to residential rental properties.

Additionally, the 2021 CAA provides limited grants for closed commercial venues to access federal funds and extend the real estate provisions to housing cooperatives. Real estate counsel will need to be aware of the grant requirements to assist clients seeking funds to remain on a property while closed.

Listen as our authoritative panel discusses the recently approved 2021 CAA as it relates to real estate provisions. The panel will address landlord and tenant concerns related to how appropriations can assist clients in remaining in properties while seeking federal funds.

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Outline

  1. Federal relief -- Consolidated Appropriations Act 2021
    1. Rental assistance
    2. Eviction moratorium
    3. Grants for closed venues
    4. Depreciation of residential rental property
    5. Housing cooperatives

Benefits

The panel will review these and other important issues:

  • How has the CAA extended the eviction moratorium, and what are the restrictions?
  • What type of rental assistance is available under the CAA, and what are the qualifications for receipt?
  • What grants are available for closed venues, and what is the process for application?
  • How has the CAA extended the depreciation of certain residential rental properties?
  • How has the extension of CAA benefits impacted housing cooperatives?

Faculty

Katkov, Steven
Steven P. Katkov

Partner
Cozen O’Connor

Mr. Katkov represents and counsels clients in a broad range of commercial real estate transactions, including...  |  Read More

Mattingly, Paul
Paul P. Mattingly

Partner, National Chair of the Real Estate Department
Seyfarth Shaw

During Mr. Mattingly’s tenure as Chair, the firm’s Real Estate Department has grown to be one of the five...  |  Read More

Michaelides, Thomas
Thomas Michaelides

Attorney
Seyfarth Shaw

Mr. Michaelides focuses his practice on commercial real estate transactions. He has experience representing clients in...  |  Read More

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