Real Estate & Construction Updates

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Court dodges "Drone Slayer"

A recent decision in the infamous "Drone Slayer" case answers some questions relating to the role federal courts will play as individuals seek to vindicate their property and privacy rights against UAS operators. But at the...more

Bankruptcy Beat: New York Bankruptcy Court Prohibits Stripping of Mortgage Lien Against Debtor's Multi-Family Residential Real...

In both Chapter 13 consumer bankruptcy cases and individual Chapter 11 cases, a debtor is prohibited from modifying a claim that is “secured only by a security interest in real property that is the debtor’s principal...more

A Bankruptcy Discharge Makes a Face-to-Face Meeting an Act in Futility

Just last fall, we wrote about the Eleventh Circuit’s decision in In re Failla, Case No., in our article, “The Eleventh Circuit has spoken: Debtors who surrender property must get out of the creditor’s way.” Now, it appears...more

Real Property & Title Insurance Update: Week Ending March 24, 2017

REAL PROPERTY UPDATE - Foreclosure/Condition Precedent: servicer did not meet its burden of proving it satisfied condition precedent of giving notice of acceleration by failing to provide evidence that notice letter had...more

Tackling GST 'Leakage' is Key to Housing Supply, Affordability

Originally published in Australian Financial Review - March 28th, 2017. If the solution to housing affordability is increased supply, the GST rules for develop-to-rent (D2R) projects is a part of the problem. "New...more

Landlords Win San Francisco Legal Battle

Who is responsible for the housing crisis in San Francisco, and what can government do to solve it? As property values have climbed in San Francisco and surrounding areas, that problem has increasingly vexed elected...more

Solving the Problem of the Unchecked Rise of Short-Term Rentals

The Internet has created innovative inroads into traditional vacation lodging. Websites like Airbnb, VRBO and Flipkey provide vacationers with affordable lodging in prime locations, furnished with all the comforts of a home....more

House of Delegates Passes Legislation Requiring Periodic Reserve Studies

By a vote of 135-1, the Maryland House of Delegates has passed House Bill 651, which would require condominiums and homeowner associations to conduct reserve studies of the common elements and common areas. As discussed in...more

SDNY Grants Trustees’ Motion to Dismiss Triaxx CDOs’ RMBS Claims for Lack of Standing

On March 21, 2017, Judge Naomi Reice Buchwald of the United States District Court for the Southern District of New York issued a Memorandum and Order granting defendants’ motion to dismiss plaintiffs’ First Amended Complaint...more

Mortgage Insurance and the Federal Homeowners Protection Act: HAMP Modification Is Not Like Refinancing

A recent Third Circuit decision offers a cautionary tale for mortgage lenders who provide loan modifications subject to the Homeowners Protection Act. In Fried v. JP Morgan Chase & Co., No. 16-3069 (3d Cir. March 9, 2017),...more

California Residential Leases: Ten Things to Know (Part 1)

Renting a house or apartment in California presents many potential legal pitfalls for tenants and landlords alike. This article is Part 1 of a two-part series listing ten important rights and responsibilities every...more

Important Decision Regarding Pre-Existing Nonconforming Structures

In a recent decision, the Land Court clarified that Massachusetts state law does not require local zoning boards to make detailed factual findings when approving an extension or alteration to a pre-existing nonconforming...more

HUD Publishes Final HECM Rule

Last year, the Federal Housing Administration (FHA) released a set of proposed rules affecting Home Equity Conversion Mortgages (HECMs) for notice and comment. After receiving 83 comments and responses, the Department of...more

House of Delegates Passes Bill to Reduce the Votes Required to Amend Bylaws

By a vote of 135-0, the Maryland House of Delegates has passed legislation that would reduce the percentage of affirmative votes required to amend condominium bylaws. Under Section 11-104(e) of the Maryland Condominium Act,...more

Tax Reform – Proposed Legislation Protecting Affordable Housing

After legislation to repeal the Affordable Care Act was pulled from the House floor last Friday, news headlines across the country began reporting that tax reform is next on the Trump Administration’s agenda. As noted in our...more

Appellate Court Rejects CEQA Claims on Project Modifications Made After Final EIR Published

California's Fourth District Court of Appeal has provided useful guidance on processing requirements for environmental review documents prepared under the California Environmental Quality Act (CEQA) when project modifications...more

OTA & Travel Distribution Update - March 17th, 2017

With my bracket totally blown by Villanova’s loss this afternoon, there is no time like the present to prepare this week’s OTA & Travel Distribution Update. This week’s Update features stories for everyone. Discounted...more

House Bill 89: Does It Grant or Just Tweak The Power to Abolish a Public Housing Authority?

Since 1969, Chapter 157 of the North Carolina General Statutes (the "Housing Authority Law") has allowed municipalities and counties to create and abolish Public Housing Authorities. Over the years, the General Assembly has...more

Victorian Purchaser Update: Changes to Stamp Duty and First Home Owner Grant and Introduction of New Vacant Residential Property...

The Victorian Government has announced a number of significant housing related duty and tax initiatives to be introduced later this year, including: - changes to the off-the-plan stamp duty concession - abolition of...more

House of Delegates Passes Registration Requirement for Condos, HOAs and Coops

The Maryland House of Delegates, by a vote of 99- 39, has passed House Bill 41, which would require residential condominiums, homeowner associations and cooperative housing corporations to register annually with the Maryland...more

City of L.A. Accepting Comments on Guidelines for Transit-Oriented Communities Incentive Program

The Los Angeles Department of City Planning is accepting comments on draft guidelines for a new transit-based affordable housing incentive program. The new program is required by Measure JJJ (adopted by voters in November...more

Orrick's Financial Industry Week In Review

Financial Industry Developments - OCC Provides Additional Details to Evaluate Charter Applications From Fintech Companies - On March 15, 2017, the Office of the Comptroller of the Currency ("OCC") issued a "Draft...more

Three Common Pitfalls in Tax Sale Purchases

By and large, South Carolina provides an excellent opportunity for those looking to buy property at tax sales. As South Carolina is not a tax lien state, buyers purchase an interest in land, rather than a lien. Investors...more

CFPB previews 5-year review of mortgage rules

Dovetailing with President Trump’s recent Executive Order requiring a reduction in regulatory burden, on March 21, 2017, a CFPB official remarked at the American Bankers Association Government Relations Summit that the CFPB...more

HUD Inspector General Issues Alert on Appraiser Identity Theft

The Office of the Inspector General (OIG) of the U.S. Department of Housing and Urban Development has issued an alert on appraiser identity theft. The alert details cases in three states where identity thieves illegally used...more

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