Residential

  • June 13, 2024

    Mich. Bill Seeks Income Tax Credit For Home Down Payments

    Michigan would create an income tax credit for homebuyers who purchase a single-family residence that would equal a portion of the down payment amount as part of a bill introduced in the state House of Representatives.

  • June 13, 2024

    Fla. Developer Inks $50M Capital Stack for Affordable Complex

    Developer and construction company Pinnacle announced that it has secured $49.9 million in financing from various sources, which will allow the company to begin construction on a 120-unit expansion of an affordable housing community in unincorporated Miami-Dade County.

  • June 13, 2024

    Blackstone's $10B AIR Buy Gets Nod From Top 2 Proxy Firms

    Denver-based Apartment Income REIT Corp.'s shareholders have recommendations from the two leading proxy advisory firms to approve an agreement to sell off the real estate investment trust to private equity giant Blackstone for $10 billion, the company announced June 13. 

  • June 13, 2024

    Thompson Thrift Closes $250M Multifamily Development Fund

    Thompson Thrift announced that the national real estate firm raised more than $250 million for its latest multifamily development fund, which will enable work on seven housing communities in suburban markets across the nation.

  • June 13, 2024

    Ohio Senate OKs Requiring Tax Payments For Property Splits

    Ohio would require delinquent property taxes to be paid before a real parcel was subdivided or transferred and would prohibit tax-delinquent property owners from buying tax-foreclosed property under a bill passed by the state Senate.

  • June 13, 2024

    NYC Real Estate Week In Review

    Willkie, Latham and Milbank were among the law firms that handled the largest New York City real estate deals that hit public records last week, a period that saw three deals north of $100 million hit records.

  • June 12, 2024

    NY Court Axes Landlords' Challenge To Rent Law Tweak

    A New York federal judge dismissed landlords' suit challenging a December law that raised the stakes for property owners that fail to cooperate with municipalities attempting to enact rent stabilization, finding again that their Fourth and Fourteenth Amendment claims fall short.

  • June 12, 2024

    Oversupply Drags On Sun Belt Multifamily Sector

    More than a fifth of multifamily collateralized loan obligations were categorized as concerning in April, with markets in the West and Southwest seeing the most concern, according to a recent report from KBRA Analytics.

  • June 12, 2024

    The Loan Discrimination Suits Notching Through Fed. Courts

    Lawsuits over loan discrimination and the fallout faced by minority borrowers are being litigated in federal courts across the country, with banks, developers and the federal government facing claims.

  • June 12, 2024

    Calif. Pension System Invests $100M In Nuveen Housing Fund

    The California Public Employees' Retirement System has provided $100 million for global investment manager Nuveen's affordable housing fund, Nuveen announced Wednesday.

  • June 12, 2024

    NYC Broker Bill Roils Agents, Who Say Landlords Won't Help

    Scores of brokers rallied Wednesday on the steps of New York City Hall to oppose a bill before the New York City Council that would put the onus on landlords, rather than tenants, to pay broker fees.

  • June 12, 2024

    Mass. Tax Board Says No To Decrease In Parcel Values

    The owner of a pair of Massachusetts land parcels failed to show they were overvalued by local assessors, a state tax board ruled in a decision released Wednesday, saying the owner sought relief beyond the board's authority on several issues.

  • June 12, 2024

    NJ Judicial Privacy Law Hit With Constitutional Challenge

    Companies accused of violating Daniel's Law hit back in New Jersey federal court this week, calling the judicial data privacy protection measure unconstitutionally vague, harsh and riddled with loopholes, and arguing it is being "cynically" misused by the plaintiff, a data privacy company.

  • June 12, 2024

    Saul Ewing, Atty Allowed 'Unconscionable' Lease, Suit Says

    A former Saul Ewing LLP client who is considered a vulnerable adult is suing the firm and one of its partners, claiming the lawyer failed to negotiate the "unconscionable terms" of a lease that required the client to take out a $400,000 loan and allowed his stepbrother tenant to pay rent one-seventieth the property's market value.

  • June 12, 2024

    Ore. Tax Court Affirms No Retroactive Fix To Home Value

    The tax valuation of an Oregon residence erroneously assessed at a larger square footage cannot be retroactively reduced, the Oregon Tax Court said, upholding the state tax department's rejection of the request.

  • June 12, 2024

    First 'Survivor' Winner Wants $3M Tax Case Tossed

    The winner of the first season of the TV series "Survivor" asked a Rhode Island federal court to toss the government's case against him seeking nearly $3.3 million in unpaid taxes, saying the liabilities stem from his flawed criminal conviction for tax evasion nearly 20 years ago.

  • June 11, 2024

    2nd Circ. Cites Macquarie In Booting Suit Over Go-Private Deal

    The Second Circuit refused to revive a proposed class action accusing a real estate services provider of artificially depressing share prices, applying apparently for the first time the U.S. Supreme Court's Macquarie decision on alleged failures to disclose certain information.

  • June 11, 2024

    Listing Co. Urges Court To Ignore DOJ's Broker Deal Issues

    A multiple listing service that has struck a $3 million settlement over broker commission rules told a Massachusetts federal court the changes proposed by the U.S. Department of Justice go far beyond what's required and would create an antitrust problem in the real estate industry.

  • June 11, 2024

    Conn. Man's Land Not Used For Farming, Appeals Court Finds

    A tax assessor in Connecticut properly declassified a property owner's land as farmland, the state's appellate court ruled in an opinion released Tuesday, affirming a trial court's finding that the property was no longer used for farming.

  • June 11, 2024

    San Diego Hit With Class Action Over Homeless Camp Sweeps

    Homeless residents in San Diego County filed a proposed class action against the county, two cities and state agencies in federal court, alleging they effectively criminalized homelessness amid an affordable housing shortage in order to drive unhoused citizens elsewhere.

  • June 11, 2024

    Ga. Justices Say 1-Year Lawsuit Window Stands In Death Case

    The Supreme Court of Georgia won't hold liable a home inspector sued by the family of a man who was killed when his home's retaining wall collapsed, ruling Tuesday that the inspector's one-year statute of limitations doesn't violate a state ban on hold harmless provisions in construction contracts.

  • June 11, 2024

    4th Circ. Sides With Baltimore Couple In Eviction Row

    A married Baltimore couple's constitutional rights were violated due to a local ordinance that caused them to lose their belongings after being evicted from their home by their landlord earlier than they expected, the Fourth Circuit ruled in a published opinion.

  • June 11, 2024

    Gawthrop Greenwood Grows Community Association Practice

    A real estate attorney specializing in homeowners and condominium associations has moved his practice to Gawthrop Greenwood PC's office in the Philadelphia suburbs after more than 21 years with M. Lyons Law Group LLC.

  • June 11, 2024

    Vt. Short-Term Rental Tax Proposal Vetoed

    A Vermont bill that would have imposed a 3% surcharge on short-term rentals was vetoed by the governor.

  • June 10, 2024

    Home Flooding Was Unavoidable, Agency Tells Appeals Court

    A Texas river management agency has told a state appeals court that a group of Houston residents' properties would have flooded regardless of its actions to mitigate Hurricane Harvey's effects, urging the appellate court to overturn a trial court order denying its bid for release from the residents' suit.

Expert Analysis

  • Conn. Banking Brief: The Notable Compliance Updates In Q3

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    The most notable legal changes affecting Connecticut financial institutions in the third quarter of 2023 included increased regulatory protections for consumers, an expansion of state financial assistance for underserved communities, and a panoply of tweaks to existing laws, says Brian Rich at Barclay Damon.

  • Mass. Banking Brief: The Notable Compliance Updates In Q3

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    Among the most significant developments in the financial services space in the third quarter of the year, the Massachusetts Supreme Judicial Court handed down a stunning endorsement of the state's fiduciary duty rule, and banking regulators continued their multiyear crackdown on unregistered entities, say attorneys at Mintz.

  • Insurance Rulings Continue Expansion Of Appraisal's Ambit

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    Two recent Illinois insurance cases allowing property damage appraisers to determine causation — Wysoczan v. Cambridge in federal court and Shelter v. Morrow in state appellate court — perpetuate a judicial trend that will result in a slower, more expensive and cumbersome appraisal process that resembles litigation, says Matthew Fortin at BatesCarey.

  • In The CFPB Playbook: The Bureau In The Courts

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    From defending the constitutionality of its funding and the scope of its rulemaking authority in the courts to releasing more nonbinding guidance, the Consumer Financial Protection Bureau had a busy summer. Orrick's John Coleman discusses all this and more in the second installment of quarterly bureau activity recaps by former CFPB personnel.

  • Fintech Cos. Should Consider Asset-Based Financing For RE

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    Fintech companies that own or plan to acquire real property may be able to utilize asset-based financings to access more efficient and cost-effective forms of capital beyond traditional venture capital sources, say attorneys at Mayer Brown.

  • What To Consider When Converting Calif. Offices To Housing

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    In light of California legislators' recent efforts to expedite the process for converting offices into residential buildings, developers should evaluate both the societal upsides, and the significant economic and legal hurdles, of such conversions, says Steven Otto at Crosbie Gliner.

  • How New Lawyers Can Leverage Feedback For Growth

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    Embracing constructive criticism as a tool for success can help new lawyers accelerate their professional growth and law firms build a culture of continuous improvement, says Katie Aldrich at Fringe Professional Development.

  • 9 Consumer Finance Issues To Note From CFPB Report

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    A recent report from the Consumer Financial Protection Bureau highlights abusive consumer finance tactics that the agency uncovered during supervisory examinations over the last year — among the most significant issues identified: deceptive practices in automotive loan servicing, and consumer reporting and debt collection compliance failures, say attorneys at Troutman Pepper.

  • Twitter Legal Fees Suit Offers Crash Course In Billing Ethics

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    X Corp.'s suit alleging that Wachtell grossly inflated its fees in the final days of Elon Musk’s Twitter acquisition provides a case study in how firms should protect their reputations by hewing to ethical billing practices and the high standards for professional conduct that govern attorney-client relationships, says Lourdes Fuentes at Karta Legal.

  • Transaction Risks In Residential Mortgage M&A Due Diligence

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    As the residential mortgage market continues to consolidate due to interest rate increases and low housing volume, buyers and sellers should pay attention to a number of compliance considerations ranging from fair lending laws to employee classification, say attorneys at Mayer Brown.

  • Ore. Warranty Ruling Complicates Insurance Classification

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    The Oregon Court of Appeals' recent TruNorth v. Department of Consumer and Business Services holding that a service contract — commonly referred to as an extended warranty — covering commercial property is subject to the state's consumer service contract laws raises regulatory questions for contract obligors, sellers and administrators, say attorneys at Locke Lord.

  • ABA's Money-Laundering Resolution Is A Balancing Act

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    While the American Bar Association’s recently passed resolution recognizes a lawyer's duty to discontinue representation that could facilitate money laundering and other fraudulent activity, it preserves, at least for now, the delicate balance of judicial, state-based regulation of the legal profession and the sanctity of the attorney-client relationship, say attorneys at Ballard Spahr.

  • FCRA Legislation To Watch For The Remainder Of 2023

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    If enacted, pending federal and state legislation may result in significant changes for the Fair Credit Reporting Act landscape and thus require regulated entities and practitioners to pivot their compliance strategies, say attorneys at Troutman Pepper.