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Showing posts from May, 2020

Importance of lease abstraction in identifying critical dates

Going through voluminous books and records of a lease agreement is indeed very hectic, which is easily eradicated through lease abstraction.  Lease abstraction  is a process of reproduction of the quintessential and useful information, buried in hundreds and hundreds of pages of the agreement. This document or lease abstract can be easily customized as per the request of both the parties, containing whatever information they deem important such as rental terms, notice periods or even critical dates. What are the critical dates? In layman’s tone, those dates which are of high importance to either of the parties can be termed as critical dates. They include any commencement date, renewal date, termination date, or even a rent payment date. Failing to take respective actions on these dates may result in the imposition of heavy penalty and even legal suits. Hence, they are termed as critical dates. Types of critical dates: For a very efficient and effective real estate, ...

Benefits of L1 visa

What is L1 Visa? Many employers/professionals in the USA require highly skilled professionals to come to the US and escalate the growth of their business.  To aid in this aspect the concept of L1 Visa was introduced by the US govt. This visa is a kind of non-immigrant visa that allows foreign companies to transfer employees. The employees who are granted this kind of visa are generally the ones having specialized knowledge in their respective fields. Classification of the L1 Visa: The L1 visa is broadly classified into two types: L1A type: This type of visa is granted to the mangers and executive people of the company. Business owners also avail of the benefits of this visa program. The tenure of this visa is initially up to three years which can be extended up to seven years. In case of a new US entry, the L1 visa is issued for 1 year. L1B type: This type of visa is issued to the employees possessing special knowledge in their respective fields. The tenure of this visa...