Real Estate & Construction Updates

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Law Amends Property Assessed Clean Energy (PACE) Programs in Virginia

On March 25, 2015, Virginia Governor Terry McAuliffe signed into law Chapter 389 of the 2015 Acts of Assembly (the Amendments). The Amendments modify Virginia's existing laws regarding property assessed clean energy (PACE)....more

Real Property, Financial Services & Title Insurance Update: Week Ending March 27, 2015

REAL PROPERTY UPDATE - Marketable Record Title Act: right-of-way held by Florida Department of Transportation qualifies for right of way exception under MRTA and remainder of property held in fee by Florida Department...more

Broad-Based Expansion for the Construction Industry Expected in 2015 - Construction Practice Newsletter

According to USA Today, construction hiring is surging and is at a nine-year high. And if you look around, the evidence of that seems to be in abundance, as billboards advertising idyllic residential communities seem to be...more

Bankruptcy Beat: Public Tax Sale to Pay Unpaid Real Estate Taxes Held to Constitute “Reasonably Equivalent Value” for Fraudulent...

A voluntary or involuntary transfer of property by a debtor for less than “reasonably equivalent value” at a time when the debtor is insolvent may be avoided as a fraudulent transfer 11 USC § 548, irrespective of the debtor’s...more

Anatomy of an Indemnity Provision - Construction Practice Newsletter

Indemnity clauses are one of the most negotiated (and litigated) provisions in a construction contract. - They’re also one of the least understood. - But we’re here to dissect it for you, so to speak. ...more

Fed and OCC Assert Bank Examination Privilege in Mortgage-Backed Securities Class Action

On March 23, the Federal Reserve and the Office of the Comptroller of the Currency – both non-parties in the suit – filed briefs requesting that a district court reject a motion to compel discovery of over 30,000 documents...more

Banking & Financial Services E -Note - March 2015

In This issue: - 6 Things You Need to Know Before Filing Chapter 11 Bankruptcy - Don’t Get Left in the Dark: Pre-eviction Noticing Requirements Following Sunset on the Protecting Tenants at Foreclosure...more

Another step forward for the Housing Production Trust Fund

Last week, ?the Federal Housing Finance Agency (FHFA), the regulator for Fannie Mae and Freddie Mac (the GSEs), issued a final rule on the allocation of resources to the National Housing Production Trust Fund and the Capital...more

Declarant Rights: Are Developers Leaving Money on the Table?

When a residential subdivision is developed, it is common for the developer to record a Declaration of Covenants, Conditions, Easements and Restrictions along with the subdivision plat. This Declaration addresses use...more

Bad Faith Sentinel - March 2015

In This Issue: - District of Colorado Sinks Insurer’s Motion for Summary Judgment on Bad Faith Claim Where Insurer Allegedly Failed To Timely Investigate Available Coverage for Boating Accident - Eastern...more

UDAAP Council Weekly UDAAP Standards Report - 3/25/2015

Every week, courts around the United States issue decisions addressing aspects of civil UDAAP claims. In an effort to illuminate the UDAAP standards, below is a sampling of some of this week’s UDAAP decisions on the meaning...more

Director Cordray Appears Before House Financial Services Committee

CFPB Director Richard Cordray recently appeared before the House Financial Services Committee to answer questions regarding the Bureau’s Semi-Annual Report to Congress and the President, which it published on December 4,...more

Texas Supreme Court Opinion and Orders - 3/15

The Court issued its opinion in No. 13-0337, PlainsCapital Bank v. Martin. In an opinion by Justice Johnson (joined by Chief Justice Hecht, and Justices Green, Willett, Lehrmann, Devine, and Brown) the Court again addressed...more

New Jersey Trial Court Holds Storm Surge Not Subject to Flood Sublimit Where Policy Expressly Includes “Ensuing Storm Surge” in...

In recent years, many courts have held that storm surge is a species of excluded flood loss; we reported on a New York example in July. This week, in Public Serv. Enter. Group, v. ACE Amer. Ins. Co., 2015 N.J. Super. Unpub....more

Direct vs. Indirect Probate Court Jurisdiction Over Foreign Realty

A state probate court generally does not have jurisdiction over real property situated in another state or country that was owned by the decedent. Generally, such property must be administered in those local jurisdictions,...more

Nevada Supreme Court Clarifies Notice Requirements For Trustee’s Sale

In JED Property, LLC v. Coastline RE Holdings NV Corp., 131 Nev. Adv. Op. 11 (Mar. 5, 2015) the Nevada Supreme Court was presented with an appeal from an order granting summary judgment in favor of Coastline. Coastline held a...more

Bankruptcy Beat: The Automatic Stay Does Not Preclude A Foreclosure Committee From Seeking Fees From A Non-Debtor Party In A...

On January 5, 2015, the Honorable Albert S. Dabrowski issued a decision concerning the applicability of the automatic stay of Bankruptcy Code Section 362(a) (the “Automatic Stay”), which decision highlights and clarifies...more

Indiana Court Dismisses Bad Faith Allegations and Praises Insurer for Timely Claims-Handling

A recent federal District Court decision from Indiana, Autumn Glen Homeowners Ass’n. v. Travelers Ind. Co. of America, 2015 WL 1256391, 2015 U.S. Dist. LEXIS 33317 (S.D. Ind., Mar. 18, 2015) provides insight into both...more

Stemming the Blight: New Jersey Supreme Court Affirms Eminent Domain Powers

The New Jersey Constitution provides for taking of blighted property for the purposes of development, redevelopment or to clear such property of blight. ...more

A Beacon for Homeowners and HOAs. Not So Much for Design Professionals - Construction Practice Newsletter

Earlier we wrote about a case that made architects none too happy – Beacon Residential Community Association v. Skidmore, Owings & Merrill LLP, Case No. A134542 (December 13, 2012) – in which the California Court of Appeals...more

Condominium unit ILSA sales exemption now effective

Effective March 25, 2015, the sale of condominium units are no longer subject to the registration requirements of the Interstate Land Sales Full Disclosure Act (ILSA) under a new exemption. This new exemption applies only to...more

A “Magnificently Convoluted and Contentious” Plat

Plats continue to be a source of frustration, uncertainty and expense for owners of waterfront property. In Sims Township v. Arenac County Drain Commissioner, the Michigan Court of Appeals described a "magnificently...more

Don’t Get Left in the Dark: Pre-eviction Noticing Requirements Following Sunset on the Protecting Tenants at Foreclosure Act

For the past five years, foreclosing lenders have been bound by a federal law that made it much more difficult to evict non-borrower tenants and occupants of the subject property following a foreclosure sale where the lender...more

Supreme Court Provides TILA Home Loan Rescission Guidance

In a recent unanimous decision, the United States Supreme Court held that a borrower exercising her right to rescind a mortgage loan under the Truth in Lending Act (“TILA”) merely had to provide written notice of rescission...more

Implied Easements and Lessons for Landowners

On Jan. 28, 2015, in Richardson v. Franc, 14 C.D.O.S 941 (2015), the California Court of Appeal for the First Appellate District ruled in favor of an easement holder by granting an irrevocable license permitting additional...more

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