Steve Lieske Steve Lieske is a partner at Allen Matkins.

LOS ANGELES—Real estate lawyer Kathleen Smalley, a partner at Locke Lord LLP recently addressed the need for more uniformity in real estate finance law in a UCLA Economic letter. While there isn’t currently a widespread movement to achieve uniformity across state lines, Smalley made an argument that there is increasing need, especially during times of economic downturn. However, not all real estate lawyers agree that uniformity is necessary or achievable. Steve Lieske, a partner at Allen Matkins, believes that the inherently local nature of real estate relieves the need for cross-boarder uniformity of law.

“I think that while this is a worthy goal, uniformity of laws may be somewhat unattainable,” Lieske tells GlobeSt.com. “People of course may have said that about the uniform commercial code as well, and I like Kathleen Smalley’s analogy. The difference I see is that with UCC-type issues, there are cross-board transactions and there is more of a need for uniformity. With respect to real property law is by nature local, and it always will be local because the dirt and the buildings that sit on that dirt are located in a specific state, and that state has a vested interest in protecting its citizens and making sure the real estate is administered in accordance with what the local folks think is important.”

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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