News & Notes
Current events and annoucements within our firm are posted to this section and updated periodically. We encourage you to revisit this page at your convenience for the latest updates.
During the recent financial downturn, revenues generated by commercial real estate developers shrank by almost half. During those difficult years, a number of tactics emerged, some old, and some new, that held out the promise of improving the business model by shoring up the bottom line. These tactics attempted to take advantage of the influential position held by developers in what will be the fundamental purchase in the lives of many, buying a home. What follows is a brief discussion of two methods by which developers have attempted to expand the influence afforded their role, and how those attempts have fared/may fare under the law.
Transfer Fee Covenants
A transfer fee covenant (“TFC”) (also known as a recovery fee, a re-conveyance fee or a resale fee) is a requirement included in a deed or a community or condominium declaration that requires the payment of a fee upon a conveyance of a home or unit. The amount of the fee can be a set amount, or can be based upon a percentage of the sale price. A common example of this kind of fee is a capital contribution paid to a homeowner’s association at a closing. Under North Carolina law, for such a covenant to be enforceable, both the benefit and the burden of the covenant must touch and concern the land. The above example satisfies this requirement, as the fee burdens the new owner (it is her requirement to pay), and the money benefits the homeowners’ association, funding common area maintenance, insurance, and other community expenses.
Schell Bray is pleased to announce that Amy H. Kincaid, a partner in the firm’s Trusts and Estates Practice Group, was recently elected as a Fellow in the American College of Trust and Estate Counsel (ACTEC). Ms. Kincaid’s practice focuses on a wide variety of estate and trust administration, estate planning, and tax issues, including simple and complex charitable giving techniques, multigenerational planning, formation and use of family limited liability companies, modification and termination of irrevocable trusts, asset protection planning, power of attorney matters, and estate and income taxation of estates and trusts.
The American College of Trust and Estate Counsel is a national organization of lawyers elected to membership by demonstrating the highest level of integrity, commitment to the profession, competence and experience as trust and estate counselors.
The Greensboro Bar Association recognized its 2013 Herb Falk Society Fellows at its September 18th member dinner at Starmount Forest Country Club. Schell Bray partners Barbara Christy and Jennifer Koenig were among those honored for having performed over 75 hours of pro bono service in 2013.
The Society honors the life and work of the late Herbert S. Falk, Jr., a former Greensboro Bar Association president who was deeply committed to pro bono service.
The firm applauds Barbara Christy and Jennifer Koenig on their exceptional commitment to the practice of law and to making their professional services available without charge for the public good..
Barbara R. Christy and Christina Freeman Pearsall, members of the Schell Bray Real Estate Practice Group, spoke on September 12, 2014 at the NC Bar Association’s live and webcast CLE program “2014 Advanced Topics in Real Property”. Their presentation was entitled “Advanced Commercial Leasing”.
Barbara Christy’s practice focuses on commercial real estate. She is a Board Certified Specialist in Real Property Law – Business, Commercial and Industrial Transactions by the North Carolina State Bar Board of Legal Specialization. Ms. Christy received her J.D. degree from the University of North Carolina at Chapel Hill School of Law.
Christina Pearsall’s practice focuses on commercial real estate. She received her J.D. degree, magna cum laude, from North Carolina Central University School of Law, and LL.M. (Tax) from Boston University School of Law.
Doris Bray has been chosen as Greensboro Lawyer of the Year in the area of Corporate Law. She has been named to the Best Lawyers listing since 1989 in the areas of Corporate Law, Leveraged Buyouts and Private Equity Law, Mergers and Acquisitions Law, Securities/Capital Markets Law and Securities Regulation.
After more than a quarter of a century in publication, Best Lawyers designates “Lawyers of the Year” in high-profile legal specialties in large legal communities. Only a single lawyer in each specialty in each community is being honored as the “Lawyer of the Year.”
The lawyers being honored as “Lawyers of the Year” have received particularly high rating in The Best Lawyers’ survey by earning a high level of respect among their peers for their abilities, professionalism, and integrity.
We are pleased that Schell Bray has had members of the firm listed in Best Lawyers© for more than twenty five years. Our listed attorneys this year are:
Michael R. Abel for Corporate Law, Employee Benefits (ERISA) Law and Tax Law
Holly H. Alderman for Real Estate Law
Doris R. Bray for Corporate Law, Leveraged Buyouts and Private Equity Law, Mergers & Acquisitions Law, Securities/Capital Markets Law and Securities Regulation
Barbara R. Christy for Real Estate Law
Michael H. Godwin for Trusts and Estates
Garland G. Graham for Corporate Law
Amy H. Kincaid for Trusts and Estates
J. Craig Kiser for Real Estate Law
Jennifer L.J. Koenig for Trusts and Estates
Paul H. Livingston, Jr. for Trusts and Estates
Thomas C. Watkins for Banking and Finance Law, and Corporate Law
Best Lawyers is one of the oldest and most respected peer-review publications in the legal profession. A listing in Best Lawyers is widely regarded by both clients and legal professionals as a significant honor, conferred on a lawyer by his or her peers.
North Carolina Lawyers Weekly will recognize Barbara R. Christy, a partner with Schell Bray, as a recipient of the 2014 Leaders in the Law. The award presentation will take place at the fourth annual Leaders in the Law awards event on Friday, September 19th in Raleigh.
Lawyers Weekly established the Leaders in the Law to honor legal professionals who go above and beyond in their profession and their community. The honorees represent the most influential individuals within our state’s legal community.
Barbara Christy’s practice focuses on commercial real estate transactions. She is a Board Certified Specialist in Real Property Law – Business, Commercial and Industrial Transactions by the North Carolina State Bar Board of Legal Specialization. Ms. Christy received her J.D. degree from the University of North Carolina at Chapel Hill School of Law.
Attorney Amy H. Kincaid has been appointed Vice Chair of the North Carolina Bar Association’s Estate Planning and Fiduciary Law Section for 2014-2015. She served as the Section’s Treasurer for 2013-2014.
The Estate Planning and Fiduciary Law Section has more than 1,200 members, sponsors CLE programs and services and provides members with a substantive newsletter. Ms. Kincaid regularly counsels clients on a wide variety of income tax, estate planning, estate administration, and charitable giving issues. She is a Board Certified Specialist in Estate Planning and Probate Law by the North Carolina State Bar Board of Legal Specialization.
Attorney Dori J. Wiggen has been appointed Vice Chair of the North Carolina Bar Association’s Elder & Special Needs Law Section for 2014-2015. In addition, Ms. Wiggen is scheduled to serve as Elder and Special Needs Law Section Chair in 2015-16. She served as the Section’s CLE Chair for 2013-14.
The Elder & Special Needs Law Section focuses on issues related to the elderly population of North Carolina i.e., Medicare and Medicaid. The section, currently with 550 members, sponsors CLE programs and services; provides members with a substantive newsletter, Gray Matters; and helps mold the association's legislative agenda for presentation to the N.C. General Assembly. Ms. Wiggen’s practice concentrates on elder law, special needs, and trusts and estates. She counsels clients on issues including special needs planning, guardianships, Medicaid, veterans benefits, wills, trusts, estate administration, probate, powers of attorney, healthcare powers of attorney, and living wills.
Amy H. Kincaid, a member of the Schell Bray Trusts and Estates Practice Group, was a panelist at the NC Bar Association’s 35th Annual Estate Planning & Fiduciary Law Program in Kiawah Island, SC on July 19, 2014. Ms. Kincaid’s topic was “Practical Portability Panel – Ins and Outs and Advising When a Client Dies”.
Amy Kincaid regularly counsels clients on a wide variety of estate planning and tax issues. Ms. Kincaid is a Board Certified Specialist in Estate Planning and Probate Law by the North Carolina State Bar Board of Legal Specialization. She received her J.D. degree with high honors and Order of the Coif from the University of North Carolina at Chapel Hill School of Law in 1998.
- Two Pitfalls of Leveraging Developer Influence: Transfer Fee Covenants and Tying Arrangements
- Partner Amy H. Kincaid honored as a Fellow in the American College of Trust and Estate Counsel
- Barbara R. Christy and Jennifer L.J. Koenig honored as Herb Falk Society Fellows
- Barbara R. Christy and Christina Freeman Pearsall speak at NC Bar Association Program
- Doris R. Bray and Barbara R. Christy named Lawyers of the Year in 2015 Best Lawyers in America©
- Eleven Schell Bray members named to the 2015 edition of Best Lawyers in America©
- Barbara R. Christy Named 2014 Leaders in the Law by North Carolina Lawyers Weekly
- Schell Bray’s Amy Kincaid Named NCBA Estate Planning and Fiduciary Law Section Vice Chair
- Schell Bray’s Dori Wiggen Named NCBA Elder and Special Needs Law Section Vice Chair
- Amy H. Kincaid panelist at the NC Bar Association Program