Residential

  • March 18, 2024

    Philly Nonprofit Execs Lived Large On Co. Money, Jury Told

    Jurors should not believe arguments from two nonprofit executives who are former associates of City Councilman Kenyatta Johnson who said they simply made bookkeeping mistakes and didn't concoct an alleged scheme to spend company money on things like huge bonuses, lavish vacations and bribing a Milwaukee school official, federal prosecutors said Monday. 

  • March 18, 2024

    New York Allots $260M To Create, Preserve Affordable Homes

    New York Gov. Kathy Hochul announced Monday that the state has allocated $260 million in low-income housing tax credits and subsidies to create and preserve 1,852 affordable homes across every region of the state.

  • March 18, 2024

    Colo. HOA Not Covered In Travelers Repair Payment Row

    A Colorado federal judge ruled a Travelers unit doesn't have a duty to defend or indemnify a Denver homeowners association seeking coverage for a dispute with a different Travelers unit that alleged it overpaid for a hailstorm property damage claim.

  • March 18, 2024

    Battle Over Mass. Rezoning Law Headed To High Court In Fall

    The Massachusetts attorney general's lawsuit to force a Boston suburb to comply with an ambitious housing law was fast-tracked Monday to the state's high court later this year, as more than a hundred towns around Boston watch how the dispute plays out.

  • March 18, 2024

    Ore. Tax Court Rejects Valuation Corrections By County

    The Oregon Tax Court agreed with a residential property owner that a county assessor's corrections of a valuation due to errors were not valid, restoring the valuation to the property's real market value before the corrections.

  • March 18, 2024

    4 Times Federal Courts Confronted NY Split On Pay Frequency

    New York federal courts are confronting a choice of whether to greenlight lawsuits alleging workers haven't been paid weekly, as state law requires for those who perform manual work, now that a split regarding such cases' viability has arisen in state appeals courts. Here, Law360 explores four cases where federal courts have picked a side amid the split in authority.

  • March 18, 2024

    Mass. Condo Owners Didn't Prove Property Was Overvalued

    Two Massachusetts property owners failed to prove their condominium was overvalued in the 2022 tax year because they didn't account for differences in the comparable properties they offered, the state tax board said in a decision released Monday.

  • March 18, 2024

    Walker & Dunlop Closes $109M Loan For Multifamily Project

    Walker & Dunlop lined up $109 million in construction financing for a 247-unit, 17-story, Class A multifamily development project in Brooklyn, New York, the commercial real estate finance services firm announced Monday.

  • March 18, 2024

    NYC Real Estate Week In Review

    Blaivas & Associates and Kriss & Feurstein were among the law firms that helped with the largest New York City real estate deals that hit public records last week, with a pair of $70 million-plus transactions in Queens and Brooklyn leading the way.

  • March 15, 2024

    Hagens Berman Defends Bid To Lead Yardi Price-Fixing Suit

    A putative class on Friday continued to push for the appointment of Hagens Berman Sobol Shapiro LLP as interim lead counsel for a rent price-fixing class action in Washington federal court after property management software company Yardi Systems Inc. and multiple landlords opposed the bid.

  • March 15, 2024

    Fla. Appeals Court Ruling Could Upend Condo Terminations

    A decision by a Florida state appeals court has thrown a wrench into a common strategy employed by developers to acquire and terminate existing condominiums to replace them with new buildings, potentially upending an expected wave of such transactions in the coming years.

  • March 15, 2024

    Paxton Joins Feds In Fraud Suit Against Houston Developer

    The Texas Office of the Attorney General sued a Houston-area real estate developer for deceptive trade, fraud in real estate transactions and other offenses, joining previously announced federal litigation accusing the company and its affiliates of widespread predatory practices.

  • March 15, 2024

    NYC Settles Its Challenge Of 'Right-To-Shelter' Mandate

    New York City and the Legal Aid Society have settled the city's legal challenge of the "right-to-shelter" mandate that requires shelter to be provided to any homeless person in the city, according to a stipulation filed Friday in New York state court.

  • March 15, 2024

    Manufactured Housing Renters Defend Price-Fixing Claims

    A proposed class of manufactured housing renters has asked an Illinois federal court not to let a mobile homes data company and several manufactured housing companies escape its price-fixing claims.

  • March 15, 2024

    Mich. Judge Wrong To Toss Weather Expert From Icy Fall Suit

    A trial court judge erred by finding that a weather expert's testimony wouldn't be relevant in a caretaker's suit alleging she slipped on black ice at her employer's property, a Michigan appellate panel has said, holding that the weather leading up to and during her fall is directly related to her claims.

  • March 15, 2024

    Ariz. Rep. Urges FTC Investigation Of RealPage Software

    Rep. Ruben Gallego, D-Ariz., has urged the Federal Trade Commission to investigate alleged anti-competitive practices by RealPage Inc., whose rent-pricing algorithm is the subject of multidistrict antitrust litigation.

  • March 15, 2024

    NC Landowner Sues Feds, Alleging Overreach In New Water Rule

    A North Carolina landowner seeking to develop property in wetlands areas has sued the federal government over its recently amended Waters of The United States Rule, saying the rule, which includes provisions on "adjacent wetlands," directly contravenes the Supreme Court's ruling in Sackett v. EPA.

  • March 15, 2024

    Realtors Cut $418M Deal, Agree To Make Broker Fee Changes

    The National Association of Realtors said Friday that it has reached a settlement to end claims that its broker commission rules caused home sellers across the country to pay inflated fees, agreeing to pay $418 million over four years and to implement changes to its rules.

  • March 14, 2024

    Lehman Brothers Can't Undo Trial Loss Over Crisis-Era CDS

    A New York appeals court on Thursday affirmed a bench trial loss Lehman Brothers' bankrupt European unit suffered last year in a suit attempting to claw back nearly half a billion dollars from Assured Guaranty over losses on credit default swaps tied to the 2008 financial crisis.

  • March 14, 2024

    Lawmakers Secure $1.3B For Native American Housing

    A record $1.34 billion will go toward Native American housing programs as part of an appropriations package passed by Congress, a $324 million increase over last year's funding.

  • March 14, 2024

    NYC Developer Lands $150M For Sears Building Renovation

    Clipper Equity LLC secured nearly $150 million in financing from Slate Property Group's debt financing arm for the renovation of a historically landmarked former Sears location, in a deal guided by Seyfarth Shaw LLP.

  • March 14, 2024

    11th Circ. Says Vet Homelessness Grant Suit Is Moot

    The Eleventh Circuit ruled that claims brought by a Florida nonprofit when the U.S. Department of Veterans Affairs terminated five grants to reduce veteran homelessness after a financial audit were mooted by later agency actions.

  • March 13, 2024

    Developer Must Arbitrate Defamation Case, Court Hears

    A California man who's been accused of publicly badmouthing a Mexican developer of luxury homes in Baja California Sur to put off prospective buyers is urging a New York court to toss the developer's defamation suit against him or send the claims to an ongoing arbitration in Mexico.

  • March 13, 2024

    NJ Justices Craft Framework For Support Pet Accommodation

    The New Jersey Supreme Court on Wednesday outlined how courts should assess accommodation requests for emotional support animals, reviving condo owners' claims that they were entitled to keep a dog more than double the weight limit allowed under the condominium association's policy.

  • March 13, 2024

    Mich. Justices Open To Counties' Foreclosure Liability Fears

    Two members of the Michigan Supreme Court seemed sympathetic to Michigan counties urging the court to limit their liability for holding onto surplus tax foreclosure proceeds, highlighting during oral arguments that counties were following state law in a practice that was later deemed unconstitutional.

Expert Analysis

  • How FinCEN Proposal Expands RE Transaction Obligations

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    Against a regulatory backdrop foreshadowing anti-money laundering efforts in the real estate sector, the Financial Crimes Enforcement Network's proposed rule significantly expands reporting requirements for certain nonfinanced residential real estate transfers and necessitates careful review, say attorneys at Fried Frank.

  • How Calif. Video Recording Ruling May Affect Insured Exams

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    A recent California appellate decision, Myasnyankin v. Nationwide, allowing policyholders to video record all parties to an insurance examination under oath, has changed the rules of the road for EUOs and potentially opened Pandora's box for future disputes, say John Edson and Preston Bennett at Sheppard Mullin.

  • Unpacking FinCEN's Proposed Real Estate Transaction Rule

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    Phil Jelsma and Ulrick Matsunaga at Crosbie Gliner take a close look at the Financial Crimes Enforcement Network's recently proposed rulemaking — which mandates new disclosures for professionals involved in all-cash real estate deals — and discuss best next steps for the broad range of businesses that could be affected.

  • Texas Insurance Ruling Could Restore Finality To Appraisal

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    The Texas Supreme Court's decision in Rodriguez v. Safeco, determining that full payment of an appraisal award precludes recovery of attorney fees, indicates a potential return to an era in which timely payment undoubtedly disposes of all possible policyholder claims, says Karl Schulz at Cozen O'Connor.

  • Contractors Need Protection From NJ Homeowner Protections

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    A recently passed New Jersey law, combined with the state's Consumer Fraud Act, is intended to protect innocent homeowners, but legislative action must be taken to prevent homeowners from abusing the law to avoid paying hardworking contractors, say Gary Strong and Madison Calkins at Gfeller Laurie.

  • NY Shouldn't Pair 421-a Restoration And Good Cause Eviction

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    The good cause eviction system of rent control should not be imposed in New York, nor should its legislation be tied to renewal of the 421-a tax abatement program, which New York City desperately needs, says Alexander Lycoyannis at Holland & Knight.

  • Setting The Stage For High Court BofA Escrow Interest Case

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    Dori Bailey and Curtis Johnson at Bond Schoeneck examine relevant legislation and case law dating back 200 years ahead of oral arguments at the U.S. Supreme Court on Tuesday in Cantero v. Bank of America, the outcome of which will determine whether state laws governing mortgage escrow accounts can be enforced against national banks.

  • DC's Housing Tax Break Proposal: What's In It, What's Missing

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    Proposed Washington, D.C., rules implementing the Housing in Downtown Tax Abatement program — for commercial property owners who convert properties into residential housing — thoroughly explain the process for submitting an application, but do not provide sufficient detail regarding the actual dollar value of the abatements, says Daniel Miktus at Akerman.

  • Assessing The Future Of Colorado's Economic Loss Rule

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    The Colorado Supreme Court's decision to review a state appellate court's ruling in Mid-Century Insurance Co. v. HIVE Construction will significantly influence the future of Colorado's economic loss rule, with high stakes for the cost of doing business in the state, says David Holman at Crisham & Holman.

  • How Recent Laws Affect Foreign Purchase Of US Real Estate

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    Early diligence is imperative for U.S. real estate transactions involving foreign actors, including analysis of federal and state foreign investment laws implicated by the transaction, depending on the property's nature and location, the parties' citizenship, and the transaction's structure, say Massimo D’Angelo and Anthony Rapa at Blank Rome.

  • What Shareholder Approval Rule Changes Mean For Cos.

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    The U.S. Securities and Exchange Commission recently approved proposed rule changes to shareholder requirements by the New York Stock Exchange, an approval that will benefit listed companies in many ways, including by making it easier to raise capital from passive investors, say attorneys at Baker Botts.

  • High Court Case Could Reshape Local Development Fees

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    If last month's oral arguments are any indication of how the U.S. Supreme Court will rule in Sheetz v. County of El Dorado, it's unlikely the justices will hold that the essential nexus and rough proportionality tests under the cases of Nollan, Dolan and Koontz apply to legislative exactions, but a sweeping decision would still be the natural progression in the line of cases giving property owners takings claims, says Phillip Babich at Reed Smith.

  • White Collar Plea Deals Are Rarely 'Knowing' And 'Voluntary'

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    Because prosecutors are not required to disclose exculpatory evidence during plea negotiations, white collar defendants often enter into plea deals that don’t meet the U.S. Supreme Court’s “knowing” and “voluntary” standard for trials — but individual courts and solutions judges could rectify the issue, says Sara Kropf at Kropf Moseley.