Residential

  • February 07, 2023

    LA-Area Developer Cops To $7M Tax, Bankruptcy Fraud

    An Agoura Hills, California-based real estate developer has owned up to federal charges alleging he did not disclose on a bankruptcy petition that he'd earned almost $2.3 million and failed to report $6.9 million on his tax returns.

  • February 07, 2023

    Real Estate Rumors: John Buck, Progressive Real Estate, TDZ

    John Buck has reportedly dropped $39.5 million on a Miami development site, Progressive Real Estate Partners is said to have sold a California retail property for $12 million, and a TDZ Capital entity is said to have landed $20 million in financing for a Florida hotel project.

  • February 07, 2023

    Mapping Project Aims To Demystify American Zoning

    A database of tens of thousands of zoning codes across the United States collected as part of the National Zoning Atlas could be an invaluable resource for land use attorneys, developers and planners, said Sara Bronin, executive director of the project.

  • February 07, 2023

    Arizona Bill Would Slap Investor Home Buys With 100% Tax

    Institutional investors would be on the hook for a 100% real estate transfer tax on single-family home purchases in Arizona if a new bill becomes law, a sweeping change for a state that currently assesses a $2 transfer fee.

  • February 07, 2023

    Russian Oligarch's Associate Charged In Sanctions Case

    A fugitive associate of Russian billionaire Viktor Vekselberg has been indicted in Manhattan for allegedly helping the oligarch maintain property in the U.S. after he was added to a list of people sanctioned by the U.S. government.

  • February 07, 2023

    Home Depot Can't Slip Race Bias Suit Over Unfinished Reno

    A New York federal judge rejected Home Depot's motion to dismiss a race and disability discrimination suit filed by a married Black disabled couple who said the retailer had abandoned their home renovation, ruling that the couple sufficiently alleged Home Depot employees told them the renovation work had to stop in order to prioritize work for white, Hasidic Jewish residents.

  • February 07, 2023

    Related Gets $385M Financing For Santa Monica Project

    Related California secured $385M in construction financing from Bank of America for a mixed-use development in Santa Monica that is set to feature 280 residential units, a supermarket and retail space, according to a statement from Related.

  • February 07, 2023

    Fannie, Freddie Profit Sweep Retrial Set For Late July

    A D.C. federal judge on Tuesday scheduled for late July the retrial of a lawsuit brought by shareholders of Fannie Mae and Freddie Mac who accuse the Federal Housing Finance Agency of improperly amending stock purchase agreements, allowing for the U.S. Treasury Department to sweep up the companies' net worths.

  • February 07, 2023

    Mont. House OKs Income, Property, Biz Equipment Tax Breaks

    The Montana House of Representatives approved three bills that would provide savings on income, property and business equipment taxes for eligible taxpayers.

  • February 07, 2023

    UK Online Auctioneer Buys Estate Sales Website For $40M

    Auction Technology Group PLC said on Tuesday that it has bought Vintage Software LLC for $40 million from the family owner of the second-hand goods seller as it seeks a share of the U.S. market for estate sales listings.

  • February 06, 2023

    Long Island Diocese Creditors Seek $321M Ch. 11 Abuse Fund

    The unsecured creditors of the Roman Catholic Diocese of Rockville Centre have submitted a Chapter 11 plan that calls for the diocese and its affiliates to pay $321 million into a fund for sexual abuse victims, tens of millions more than the diocese proposed.

  • February 06, 2023

    Sign Co. Sues Georgia City, Claiming Free Speech Violation

    A sign company has filed suit against the city of Newnan, Georgia, alleging that its free speech rights were violated when the city rejected its applications for signs the company hoped to place on unzoned railroad property.

  • February 06, 2023

    NY State Atty Can Stay On Case Against Eviction Firm

    A New York state judge ruled that a state attorney can continue working on a case involving a law firm's questionable debt collection practices, finding no evidence the attorney had a "vendetta" against one of the firm's counsel.

  • February 06, 2023

    Ranch, Feds Say Full Settlement Likely In Border Wall Fight

    An Arizona ranch and the U.S. government told a Washington, D.C., federal judge Monday that they are making progress toward settling the ranch's suit over the Trump administration's construction of border wall segments next to its property.

  • February 06, 2023

    Insurer Blames Design Defects For Wyo. Property Damage

    An insurer for a property owner argued in Wyoming federal court that it should not have to pay $750,000 for a heavy snow damage claim because the damage to the insured building was caused by design defects.

  • February 06, 2023

    In Vogue Vacancy Taxes Show Modest Returns

    San Francisco's newly approved residential vacancy tax may have a muted effect on housing supply, if the experience of cities such as nearby Oakland and Vancouver in British Columbia is any guide.

  • February 06, 2023

    Bank Group Tells 4th Circ. To Back PNC Over Withdrawal Suit

    A banking trade group told the Fourth Circuit to side with PNC Bank against an appeal over a customer's suit claiming the bank violated the Truth In Lending Act by withdrawing funds from a deposit account to pay off the customer's home equity line of credit, arguing that a HELOC can't be considered a credit card plan regulated under TILA.

  • February 06, 2023

    Judge Clears Oakland To Take Down Homeless Encampment

    A federal judge dissolved a temporary restraining order protecting an Oakland homeless encampment, saying city officials can dismantle the encampment because the city has found shelter for its residents and plans to build affordable housing at the site.

  • February 06, 2023

    Insurer Says Landlord's Coverage Dispute Doesn't Fit NC Law

    The insurer for a North Carolina real estate firm told the Fourth Circuit it should uphold a lower court's decision that the insurer has no defense obligations to the firm in an underlying class action because the firm's argument relies on defense standards rejected by the state's Supreme Court.

  • February 06, 2023

    Texas Joins Kansas, Okla. In Prairie Chicken Rules Challenge

    Texas Attorney General Ken Paxton announced Monday he plans to side with Oklahoma and Kansas in suing the Biden administration over its decision to list the lesser-prairie chicken as endangered or threatened in parts of Texas, calling the move a burden to the state's property owners.

  • February 06, 2023

    Real Estate Lawyers On The Move

    Nossaman, Hinshaw & Culbertson and McDonald Hopkins are among the law firms that have made recent real estate or construction hires.

  • February 06, 2023

    Shutts & Bowen Adds Land Use Partner From Jones Foster

    Florida's Shutts & Bowen LLP announced Monday that it has picked up a new partner from Jones Foster for its land use and zoning group.

  • February 06, 2023

    Wells Fargo Deal Would Prolong FLSA Notice Issue In 3rd Circ.

    A potential settlement between Wells Fargo and home mortgage consultants who say it shorted them on overtime would forestall an answer from the Third Circuit about whether workers covered by arbitration agreements are entitled to receive court-authorized notice of wage and hour collective actions, experts told Law360.

  • February 06, 2023

    Mass. Court Rules Condo Must Pay Tax On Parking Easement

    A parking easement in a condominium development may be assessed and taxed as property independent of the owner's condo unit, a Massachusetts court said Monday, rejecting the owner's argument that she was effectively being taxed twice.

  • February 06, 2023

    2nd Circ. Affirms Constitutionality Of Rent Stabilization In NY

    The Second Circuit on Monday affirmed a consolidated 2020 New York federal court opinion upholding the constitutionality of the state's rent stabilization law as amended in 2019, finding that the law does not amount to a taking of landlords' property.

Expert Analysis

  • What New Corporate Disclosures Mean For Real Estate

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    The recently passed Corporate Transparency Act's requirement that companies report their beneficial ownership and control parties will dramatically change the disclosure regime for all parties involved in real estate capital formation and investment, even as they await further clarification on the law's many ambiguities, say attorneys at Pillsbury.

  • Raising Capital For Real Estate Deals During The Pandemic

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    Real estate sponsors looking to invest in the current environment should consider the various advantages and risks of forming a commingled real estate investment fund versus raising capital on a deal-by-deal basis, says Matt Ertman at Allen Matkins.

  • Preparing The Securitization Market For Libor Transition

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    Matthew Cucolo at Factor analyzes the unique legal and structural challenges the securitization market faces as Libor's cessation approaches, including the task of amending transaction documents to introduce a new risk-free rate.

  • NY Ruling Offers Mortgage Lenders Foreclosure Alternative

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    CitiMortgage v. Ramirez, a recent decision from a New York appeals court, may give lenders precluded from foreclosing a mortgage the opportunity to seek enforcement of a promissory note against the same borrower, says Christopher Gorman at Abrams Fensterman.

  • Revival Of Earmarks Will Streamline Legislative Process

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    Congress' ban on earmarks through the last decade has contributed to uncertainty about when funding for each new fiscal year will be enacted, but recent developments suggest that legislators may soon reform or eliminate the ban, easing the gridlock, say Kathleen Hatfield and Paul Moorehead at Powers Pyles.

  • 10 State And Local Tax Predictions For 2021

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    Chuck Jones, Lori Stolly and Patrick Skeehan at Grant Thornton forecast the biggest state and local tax issues for 2021 as jurisdictions continue to deal with the economic fallout of the COVID-19 pandemic.

  • CFPB Order Offers Insight Into Pandemic Mortgage Servicing

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    The U.S. Consumer Financial Protection Bureau's recent consent order over Seterus' mishandling of loss mitigation applications during the pandemic highlights issues mortgage servicers should keep in mind as they work through the backlog of loans awaiting foreclosure once federal and state moratoria end, say Jeffrey Naimon and Joshua Kotin at Buckley.

  • As Superfund Turns 40, Courts Are Still Puzzling Over It

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    The Comprehensive Environmental Response, Compensation and Liability Act just turned 40, but a review of several Superfund cases from 2020 demonstrates that courts are still regularly confronted with novel questions and issues related to the law, says Peter Keays at Hangley Aronchick.

  • How To Reliably Value Income-Producing Real Estate

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    Amid the pandemic-fueled surge in tax appeals and loan workouts, using the income approach to calculate the present worth of a property's future income provides the most reliable indication of value and does not rely on subjective adjustments, say Mark Dunec at FTI Consulting and Anthony DellaPelle at McKirdy Riskin.

  • CFPB's Busy 2020 May Foretell Regulatory Uptick Ahead

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    The last year stood out for its marked resurgence in Consumer Financial Protection Bureau activity, suggesting 2021 will usher in even more vigorous enforcement, enhanced fair lending regulation, and renewed assaults on consumer arbitration and payday lending, says Richard Gottlieb at Manatt.

  • 2 Cases Highlight Superpriority Lien Risks For Lenders

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    Two recent decisions from a New York state court and a Nevada federal court reaffirm the importance of lenders paying off superpriority liens, which may extinguish their mortgages or deeds of trust if not swiftly addressed, say Michael O'Donnell and Michael Crowley at Riker Danzig.

  • Lenders' Role Will Be Key In NYC Green Building Loans

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    New York City's Climate Mobilization Act, which will soon restrict large buildings' carbon emissions, provides for a loan program to help owners finance energy-efficient improvements — but the program's success will depend on mortgage lenders' participation, says Jason Rozes at Dechert.

  • 2 Calif. Rulings Offer Lessons As Foreclosure Crisis Looms

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    A pair of recent California state court decisions tied to homeowner protection laws foreshadow the kinds of litigation the mortgage industry may face if the pandemic leads to a wave of foreclosures, say Yakov Wiegmann and Matthew Lee at Riley Safer.