Residential

  • November 01, 2022

    Jury Mulls Fannie, Freddie Shareholder Profit Sweep Claims

    The Federal Housing Finance Agency warned a D.C. federal jury Tuesday against using hindsight to consider the reasonableness of its decision to amend Fannie Mae and Freddie Mac stock purchase agreements to let the U.S. Department of the Treasury sweep up the companies' net worths, encouraging the panel to step into officials' shoes during deliberations.

  • November 01, 2022

    Army Corps Wants Out Of SC Wetlands Housing Project Suit

    The Army Corps of Engineers told a federal court that environmental groups can't block a permit that the agency greenlighted for a housing development on wetlands in Charleston, South Carolina, simply because they don't agree with its findings.

  • November 01, 2022

    Texas Landowner's Public Info Law Dispute Partly Revived

    A Harris County landowner has another shot on a claim that the city of Galena Park broke the Texas Public Information Act in its handling of a records request tied to a denied building permit, the state's Fifth Court of Appeals has ruled.

  • November 01, 2022

    Caution Seen As NYC Luxury Sales Come In Under Asking

    When Gary Barnett's Extell Development Co. started planning a supertall luxury residential condo tower on Billionaire's Row in Manhattan, the Great Recession was still years in the making.

  • November 01, 2022

    Roomster Says FTC's Phony-Listings Suit Is A Shakedown

    Room-listing company Roomster Corp. urged a New York federal court to toss a suit filed by the Federal Trade Commission and six states over allegedly fake online room listings, arguing that the FTC based its claims on "a stale, superficial investigation" and just wants to net monetary damages.

  • November 01, 2022

    NJ Tax Court Upholds Exemption For Adult Support Home

    A New Jersey residential property that houses a person with intellectual and developmental disabilities is entitled to a tax exemption despite a township's claims that the property is not available to the public, the state's tax court ruled Tuesday.

  • November 01, 2022

    Atty's In-House Work For Housing Co. DQs Firm In Mold Suit

    The Georgia Court of Appeals has ruled that a Wakhisi-Douglas senior attorney's in-house experience with First Key Homes of Georgia LLC created a conflict of interest that disqualifies the firm from continuing to represent a man suing First Key over mold in a rented home.

  • November 01, 2022

    Real Estate Rumors: PA Hospitality, Brookfield, Jon Burton

    PA Hospitality has reportedly landed $37.4 million for a Houston hotel project, Brookfield is reportedly asking tenants to leave one of its Houston office towers, and Jon Burton is said to have dropped the asking price of a Malibu, California, mansion by $15 million.

  • November 01, 2022

    Real Estate Co. Says Racial Bias Suit Doesn't Stand

    Real estate company The RMR Group LLC wants a suit that was initiated by a former Black employee accusing the company of racial discrimination and unlawful termination tossed, arguing the employee signed an arbitration agreement and can't bring the issue to court. 

  • November 01, 2022

    Ex-US Bank, Duke Realty Real Estate Pros Join Faegre Drinker

    Faegre Drinker Biddle & Reath LLP has hired two new real estate practitioners from U.S. Bank National Association and Duke Realty Corp., respectively, one of whom worked at one of Faegre Drinker's predecessor firms over a decade ago, according to an announcement.

  • November 01, 2022

    Rent Control On Ballot In Orlando, California And Maine

    Rent control will be on the ballot next week in Orange County, Florida, three cities in California and in Portland, Maine, as a tool to address escalating housing costs.

  • October 31, 2022

    Wells Fargo Says SEC Probing Its Hiring Practices

    Wells Fargo revealed Monday that the U.S. Securities and Exchange Commission is investigating its hiring practices, just months after the U.S. Department of Justice opened its own investigation.

  • October 31, 2022

    NYC Housing Marketer Sued Over Refusals For Criminal Pasts

    A company screening applications under New York City's 421a affordable housing program enforces a blanket ban on all prospective tenants with criminal backgrounds, disproportionately harming Black and Latino renters, a nonprofit told a federal court.

  • October 31, 2022

    First Guaranty Mortgage Gets Green Light For Ch. 11 Plan

    The Chapter 11 bankruptcy plan of First Guaranty Mortgage Corp., a home loan originator and servicer, received approval Monday in Delaware after the debtor negotiated several last-minute agreements with parties to the case to resolve multiple objections.

  • October 31, 2022

    Feds Must Pay $450K For Texas Reservoirs Flooding Properties

    The U.S. Court of Federal Claims has ordered the federal government to pay more than $454,000 in damages to Texas property owners who were impacted by flooded federal reservoirs during Hurricane Harvey in 2017.

  • October 31, 2022

    Jury Hears Final Arguments Over Fannie, Freddie Profit Sweep

    A D.C. federal jury was told Monday the Federal Housing Finance Agency's decision to amend Fannie Mae and Freddie Mac stock purchase agreements and let the U.S. Treasury sweep up the companies' net worths made their stocks essentially worthless, dashing shareholders' hopes of receiving dividends.

  • October 31, 2022

    Miami Firm Leads $1B Mixed-Use Overhaul Of Michigan Mall

    Miami-based Lionheart Capital is working with the city of Sterling Heights, Michigan, to tear down its 1.5 million-square-foot Lakeside Mall and come up with a development plan that could span more than a decade and cost $1 billion.

  • October 31, 2022

    SC County Gets $81M In Votes On Panthers-Tied Ch. 11 Plan

    A Delaware bankruptcy judge said Monday she would let the South Carolina county that was the site of a failed Carolina Panthers training camp facility vote on the project developer's Chapter 11 plan based on the county's full $81 million claim against the company.

  • October 31, 2022

    Okla. Transportation Dept. Sues BIA For Highway Land

    The Oklahoma Department of Transportation has sued the U.S. Bureau of Indian Affairs in federal court, seeking compliance with the department's attempt to construct and maintain the state's transportation system in Kiowa County.

  • October 31, 2022

    Utah's $100K Atty Fee Bid Excessive, Construction Co. Says

    One of the federal contractors working on a Colorado gold mine when it ruptured in 2015 denies owing the state of Utah more than $100,000 in attorney fees for mishandling certain records, calling the request "unreasonable" because it avoided a harsher punishment for that infraction.

  • October 31, 2022

    Property Owner Wants Class Cert. In Lockheed Pollution Suit

    An Orlando-area property owner has asked a Florida federal judge to certify a proposed class of similarly situated property owners who say they face diminished property values because of alleged widespread contamination from a Lockheed Martin manufacturing facility.

  • October 31, 2022

    Real Estate Co. Wants Trial Redo After $29M Judgment

    A real estate group hit with a roughly $29 million judgment on claims it undertook a smear campaign targeting a competitor has urged a Florida federal court to give it a new trial, saying the jury was "overwhelmed by complexity" and the damages were excessive.

  • October 31, 2022

    Ga. Court OKs County Roads Tax On City Residents

    A Georgia county may tax a city's residents for the maintenance of roads outside city boundaries, a state appeals court said, agreeing with the county that the upkeep funding may depend on who uses the roads, not just the roads' location.

  • October 31, 2022

    NJ Law Firm Accused Of Malpractice In Mortgage Hacking

    A former Blairstown, New Jersey, homeowner is suing the attorneys who represented her in the sale of her house, alleging that they wired $250,000 of the proceeds to hackers who infiltrated their system rather than to the mortgage company it was supposed to go to.

  • October 31, 2022

    Jackson Walker Adds RE Pros In Austin, San Antonio

    Jackson Walker LLP is expanding its real estate practice by adding a DuBois, Bryant & Campbell LLP land use expert in Austin and a Golden Steves & Gordon LLP real estate pro in San Antonio.

Expert Analysis

  • Partial Repeal Could Resolve Biden's SALT Cap Dilemma

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    Lawmakers' calls to repeal the cap on federal deductions for state and local taxes are controversial because doing so could cost over $600 billion, but a partial repeal could be accomplished on a revenue-neutral basis, providing relief to some, if not most, affected taxpayers, says Joseph Mandarino at Smith Gambrell.

  • Why CFPB's Disposal Of Supervisory Tool Is Problematic

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    The Consumer Financial Protection Bureau’s recent elimination of supervisory recommendations that provide financial institutions feedback on compliance deficiencies is concerning and suggests the CFPB is clearing away obstacles to its discretion to invent, as well as enforce, the law, say Eric Mogilnicki and Jeremy Newell at Covington.

  • Florida Construction Defect Proposal Unfair To Homeowners

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    Proposed changes to Florida’s Chapter 558 notice process would require homeowners alleging construction defects to clear costly hurdles and sign perjury penalty acknowledgements, which would favor builders by discouraging suits seeking recovery, say Nick Vargo and Greg Demers at Ball Janik.

  • Cybersecurity Considerations After NY Lender's Data Breach

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    The New York Department of Financial Services’ recent enforcement action against Residential Mortgage Services for inadequately responding to a cybersecurity breach is instructive for financial institutions evaluating existing data security safeguards, refining their compliance programs and preparing for regulatory examinations, say attorneys at Arnold & Porter.

  • When Federal Courts Remand Eviction Actions Back To States

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    Bruce Falby and Paul Lewis at DLA Piper explore a recent trend of federal courts declining to adjudicate eviction cases removed from state court, even where there is diversity jurisdiction — and its implications for commercial tenants and landlords.

  • NY Rent Control Bill Would Hurt Residential Real Estate Sector

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    Legislation recently introduced in New York to effectively create rent control for virtually every residence would create problems for hotels, discourage the building of new housing projects and make it more difficult for landlords to evict occupants, says Stuart Saft at Holland & Knight.

  • Key Tax Concerns For Foreign Investors In US Private Equity

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    Paul D'Alessandro at Bilzin Sumberg examines important tax questions foreigners interested in U.S. private equity investments should ask in advance, including whether the investment will produce active or passive income, be subject to gains tax, and have U.S. estate tax consequences.

  • What CFPB Policy Shift Means For Scrutiny Of Abusive Acts

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    The Consumer Financial Protection Bureau's new plan to more aggressively deploy its rulemaking, supervisory and enforcement authority — coupled with its recent rescission of a policy calling for restraint in policing abusive acts and practices — could lead to more frequently cited abusiveness violations and expansion of the standard for identifying them, say attorneys at Paul Weiss.

  • 3 Arthrex-Adjacent High Court Cases Could Affect PTAB's Fate

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    As patent practitioners await a decision on the constitutionality of Patent Trial and Appeal Board judges in U.S. v. Arthrex, they should keep their eyes on three other pending U.S. Supreme Court cases that, while not IP-related, involve overlapping legal issues, including the severability doctrine, says William Milliken at Sterne Kessler.

  • Fla. Construction Defect Law Lacks Teeth, Despite Updates

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    Though a new bill updating Florida's alternative dispute resolution process governing construction defect claims will take effect in July, the law contains some significant shortcomings that remain unaddressed, says Adam Richards at Berger Singerman.

  • Offshore Wind Push Is Good News For NYC Building Owners

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    With a surge of federal and state support for offshore wind power in New York state, the projects now in development should greatly benefit New York City building owners seeking to comply with the city's Climate Mobilization Act, says Raymond Pomeroy at Stroock.

  • How Surveys Provide Insight For Consumer Finance Litigation

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    As consumer finance litigation and enforcement are expected to increase under President Joe Biden, surveys can play an important role by assessing consumers' decision making and understanding of financial disclosures, say analysts at Cornerstone Research.

  • OCC Rule Misaligned With Some Tax Equity Safe Harbors

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    The Office of the Comptroller of the Currency's recently finalized rule on national banks' participation in tax equity financings aligns with safe harbor guidance for renewable energy investments, but not with safe harbor structures for historic preservation and carbon capture tax credits, say attorneys at Nixon Peabody.