Residential

  • May 09, 2024

    Va. Builder's Sand Purchases Found Subject To Sales Tax

    A Virginia homebuilder that purchased dirt and sand must pay sales tax on those purchases because both are tangible personal property, the state's tax commissioner ruled.

  • May 08, 2024

    Fla. Condo Terminations Could Spread, But Won't Be Easy

    A reckoning is approaching for aging condominium buildings across Florida, with state structural inspections and reserve studies mandated after the deadly 2021 Surfside building collapse due at year's end. But although this could present much needed redevelopment opportunities, the path looks as difficult to navigate as ever, experts said at a real estate conference this week in Miami.

  • May 08, 2024

    Execs Weigh In On Housing Trends At DLA Piper Panel

    Why is it so hard to build housing? Blame high interest rates, spiking insurance rates and maybe even some sort of elderberry beetle — according to a group of housing development executives gathered in Chicago this week for DLA Piper's annual real estate conference.

  • May 08, 2024

    Upstate NY Cities Aim To Join Rent-Regulated Ranks

    After a 2019 tweak to state law allowed localities beyond New York City and its surrounding counties to opt into rent stabilization for the first time since the original legislation was passed in 1974, a smattering of upstate cities have attempted to do just that, to varying degrees of success.

  • May 08, 2024

    Brokers Lean On Other Business With Transactions Flat In Q1

    Commercial real estate's big four brokers are still waiting for inflation to cool down so capital markets can rebound, despite signs in the first quarter that a recovery was underway.

  • May 08, 2024

    Norfolk Southern Class Counsel Talks Settlement, Legacy

    With residents of East Palestine, Ohio, on the verge of a $600 million payout for the 2023 Norfolk Southern train derailment, plaintiffs' co-lead counsel Jayne Conroy shared some thoughts about the role property values played in the proposed settlement and what ripple effect their arguments might have in similar cases.

  • May 08, 2024

    Coldwell Banker's Lockboxes Draw BIPA Suit

    Coldwell Banker has been sued in Illinois state court by a proposed class of employees who claim it violated Illinois' biometric privacy law by failing to get their informed consent before requiring them to scan their fingerprints to access biometric lockboxes that store keys for rental units shown to potential customers.

  • May 08, 2024

    NAR Magazine Subscribers Drop Data-Selling Claims

    A proposed class has mediated and permanently dismissed claims in Michigan federal court accusing the National Association of Realtors of illegally selling, exchanging and renting the personal data of subscribers to the NAR's Realtor magazine.

  • May 08, 2024

    Homebuyers Can't Stop NAR's $418M Settlement Hearing

    An Illinois federal judge said Wednesday she won't derail a final settlement hearing for the National Association of Realtors' $418 million deal with home sellers, despite a class of homebuyers' claims that the deal interferes with their separate case, saying they will have a chance to voice concerns at the hearing.  

  • May 08, 2024

    Nixon Peabody Closes Green Retrofit Deal For Mass. Housing

    Nixon Peabody LLP has wrapped up a deal that will allow older adults in Quincy, Massachusetts, to use U.S. Department of Housing and Development funds and a federally insured loan to build a new HVAC system that's energy efficient and to make their housing more accessible, the firm announced Wednesday.

  • May 08, 2024

    Colo. Lawmakers OK Historic Structure Tax Credit Extension

    Colorado's tax credit for rehabilitation of historic structures would be extended and apply to structures as young as 30 years old under legislation approved by the Senate and headed to the governor.

  • May 07, 2024

    LA Sued For Landmarking House Marilyn Monroe Died In

    Owners of a Los Angeles home where Marilyn Monroe died sued the city in California state court saying it orchestrating an illegal, rigged process to designate it as a historical landmark, arguing Monday nothing in the home shows the actress spent a single day in it.

  • May 07, 2024

    Real Estate Co. Says Privilege, Immunity Don't Protect Trustee

    A real estate company says a Chapter 7 trustee overseeing a Connecticut woman's personal bankruptcy cannot invoke the doctrine of qualified immunity or assert a litigation privilege to avoid being countersued for trying to stop a home sale the trustee considered fraudulent.

  • May 07, 2024

    Property Co. Gets $365M In Loans Modified For Biz Growth

    Property owner and manager The GSH Group wrapped up the modification of $365 million in multifamily senior loans for its properties with lender Arbor Realty, it announced Tuesday.

  • May 07, 2024

    Real Estate Co. Settles Homeowner's Telemarketing Suit

    A potential class settled its Telephone Consumer Protection Act suit against a New York real estate company that buys and sells homes, according to a New York federal judge's order.

  • May 07, 2024

    New Missouri Law Forces Landfills Further From Cities

    A new Missouri law will increase the radius for approvals needed from nearby municipalities for several types of landfills to one mile from half a mile, in what the governor called a "win for property rights."

  • May 07, 2024

    HUD Unveils $5.5B In Housing Grants, New Voucher Reforms

    The U.S. Department of Housing and Urban Development announced Tuesday that it will send over 2,400 housing grants worth $5.5 billion to 1,200 American communities, with the agency also detailing reforms to its housing voucher programs.

  • May 07, 2024

    Contract's 1-Year Limit Doesn't Block NC Mold Claims

    A North Carolina appeals court on Tuesday reinstated a couple's suit against a contractor they say failed to remediate water and mold damage in their house, saying the trial court was wrong to find that the contract's one-year limitation on claims applied to the state's Unfair and Deceptive Trade Practices Act.

  • May 07, 2024

    Ore. Tax Court Drops Values Of Residential Parcels

    The Oregon Tax Court ruled that the real market values of two parcels teed up for a residential subdivision should be lowered after agreeing with the owner's comparable sales study and development cost analysis.

  • May 07, 2024

    Colo. House OKs Conservation Easement Tax Break Extension

    Colorado would extend its conservation easement tax credit through 2031 and raise its statewide annual cap on available credits under legislation approved Tuesday by the state House of Representatives.

  • May 07, 2024

    NY State, Cities Urge Tossing Challenge To Rent Law Tweak

    Two upstate municipalities separately urged a New York federal court to dismiss a suit challenging a December amendment to the rent stabilization laws, arguing the particulars of their recent attempts to adopt rent stabilization undermine the landlords' claims. 

  • May 07, 2024

    Colo. Senate Approves Property Tax Cuts

    Colorado would extend temporary property tax rate reductions into 2024 and set lower rates for future years under bipartisan legislation passed Tuesday by the state Senate that is forecast to save property owners nearly $1 billion in its first year if enacted.

  • May 07, 2024

    DLA Piper Pads Real Estate Group With New Chicago Partner

    DLA Piper has added a partner to the firm's real estate practice group who will join from Katten Muchin Rosenman LLP, saying the new hire's expertise spans asset classes and deal types.

  • May 06, 2024

    Housing Nonprofits Sue Over Fla. Land-Buying Law

    Florida's S.B. 246 violates the Fair Housing Act and the state's constitution by restricting the land purchases of Chinese citizens and others, according to a suit filed Monday by multiple fair housing nonprofits, a group representing real estate professionals and a Florida real estate brokerage.

  • May 06, 2024

    NJ Subdivision Assessment Spike Should Remain, Court Says

    The property value of a city block bought and developed in New Jersey increased correctly based on the subdivision, the state Tax Court ruled, rejecting the property owner's argument that the assessment was wrong because the city forgot to set the new property lines.

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.