Real Estate & Construction Updates

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Alabama Homestead and Personal Property Exemptions Increased

On June 11, 2016, Governor Bentley (Alabama) signed into law ACT No. 2015-484 which became effective that same day. The law increases the personal property exemption available to individual debtors and surviving spouses to...more

Second Circuit Revives Fair Housing Disability Bias Suit

In a very significant move, earlier this week the U.S. Court of Appeals for the Second Circuit (the “Second Circuit”) reinstated a Fair Housing Act (“FHA”) lawsuit and held that there was sufficient evidence to defeat summary...more

New Tennessee Business Related Laws Go Into Effect

Hundreds of new Tennessee laws went into effect on July 1, 2015. The following is a summary and link to several new laws which can affect Tennessee businesses. SB 1058 – Wrongful discharge for firearms and...more

FDIC revises examination procedures to incorporate TILA/RESPA integrated disclosures

The FDIC has revised its interagency examination procedures to reflect the requirements of the TILA/RESPA integrated disclosures (TRID) rule. The CFPB has issued a proposal to postpone the TRID rule’s effective date from...more

Appellate Court Notes

- Supreme Court Advance Release Opinions: - SC19305 - State v. Francis - SC19305 Dissent - State v. Francis - Appellate Court Advance Release Opinions: - AC36500 - Castro V. Mortgage Lenders...more

Nevada Amends Mortgage Lending, Servicing Provisions; Creates Servicer License

Nevada Governor Brian Sandoval signed into law AB 480, which amends provisions concerning mortgage lending, escrow agents, escrow agencies, mortgage brokers, mortgage agents, and mortgage bankers. Among the modifications to...more

California Supreme Court Grants Review in San Buenaventura Groundwater Pumping Fees Case

Appellate Court Decision Held that the Pumping Fee is Subject to Prop. 26 and is not a Property-Related Fee Subject to Prop. 218 - Two California Appellate Court decisions handed down in March addressed whether or not...more

Lending Industry Take Note: Federal Fair Housing Act Provides For Disparate-Impact Liability

The status quo stands, to a degree. By a 5-4 vote, the United States Supreme Court has concluded that the federal Fair Housing Act (“FHA”) authorizes lawsuits not just for intentional discrimination, but for conduct taken...more

In Overhead and Profit Class Actions, The Third Trade’s No Longer The Charm

When repairs to a damaged home reach a certain level of complexity, they call for supervision by a general contractor, who receives a percentage of the actual repair costs as “general contractor’s overhead and profit” or...more

Under the Dome: Inside the Maine State House

Thank you for your readership. The First Regular Session of the 127th Legislature is nearing its end. For now, the Legislature has adjourned but plans to reconvene on July 16. As the pace of legislative developments is now...more

RLUIPA Suit Looms After Controversial Connecticut Church Denial

The Danbury Zoning Board of Appeals denied a church’s application for variances to develop an 18-acre parcel with a house of worship and priest residence. Now, Danbury could join the list of Connecticut municipalities that...more

Tender Not Required for a “Dual Tracking” Claim

Many claims based on flawed foreclosure sales never get out of the starting gates because the borrower fails to allege a pre-lawsuit “tender” of all amounts due on the loan....more

Court Reaffirms Viability of Disparate Impact Theory in Discrimination Cases

Last week, the Supreme Court issued its highly anticipated ruling in Texas Department of Housing and Community Affairs v. Inclusive Communities Project, Inc. (Inclusive Communities). For the first time, the Court interpreted...more

CFPB Report Addresses Need for a Compliance Management System

The CFPB's Supervisory Report Provides Important Insight into the CFPB's Supervision and Enforcement Priorities and Desired Business Practices. HIGHLIGHTS: - The Consumer Financial Protection Bureau (CFPB)...more

The U.S. Supreme Court’s Decision in Texas Department of Housing & Community Affairs v. Inclusive Communities Project, Inc.

In Texas Department of Housing & Community Affairs v. Inclusive Communities Project, Inc., 576 U.S. ___, 2015 WL 2473449 (Jun. 25, 2015), the U.S. Supreme Court, in a 5-4 decision, held that disparate impact discrimination...more

Banks’ Motion to Dismiss Commerzbank RMBS Fraud Claims Granted

On June 18, 2015, Justice Marcy Friedman of the New York Supreme Court dismissed RMBS fraud claims brought by Commerzbank AG London Branch (“Commerzbank”) against UBS, Nomura Holdings Inc., Barclays Bank PLC, Citigroup and...more

New York Court of Appeals Provides Guidance on Deficiency Judgments

The level of proof that a lender must submit to obtain a deficiency judgment following a mortgage foreclosure was recently clarified by the New York Court of Appeals. Under RPAPL § 1371, a lender may seek a deficiency...more

Missouri Court: “Equivalent” Requires that Replacement Siding be Both Equal in Value and Virtually Identical

In December, we published a post about a Minnesota Supreme Court case that held that under a replacement cost policy, the phrase “comparable material and quality” meant that all of the siding on 20 buildings had to be...more

Deadlines for Pennsylvania Real Property Tax Appeals

In view of market conditions, now is a good time to review your company’s real estate portfolio to consider assessment appeals for tax year 2016. Deadlines for appeal in certain Pennsylvania counties follow:...more

Stripping Off Junior Mortgages Now Barred in Chapter 7 Bankruptcy Cases

The Supreme Court has unanimously decided that debtors are prohibited from stripping off junior mortgage liens in Chapter 7 bankruptcy cases. Lien stripping is where a bankruptcy court relieves a debtor of his second mortgage...more

Divided U.S. Supreme Court Holds Disparate Impact Claims Cognizable Under FHA, but Subject to Safeguards Against Abusive Disparate...

A sharply divided U.S. Supreme Court announced its decision in Texas Department of Housing and Community Affairs v. The Inclusive Communities Project, Inc., on June 25, 2015, holding that disparate impact claims are...more

Developers: Beware of Disparate Impact After Supreme Court Ruling

Following the Supreme Court’s decision in Texas Dept. of Housing and Community Affairs v. Inclusive Communities Project, state agencies and real estate developers should carefully consider the effects of their low-income...more

NY State Estate Tax of Nonresident's LLC Determined by Entity Classification

The New York State Department of Taxation and Finance (the department) recently opined that a membership interest in a single-member LLC (SMLLC) owning a New York condominium is real property subject to New York State "estate...more

U.S. Supreme Court Finds Disparate Impact Claims Cognizable Under FHA

This case arose from a dispute regarding where housing for low-income persons should be constructed in Dallas, Texas—that is, whether low-income housing projects that received government tax credits should be built in the...more

An Air of Cooperation: The Residential Zero Net Energy Action Plan and its Implications for Local Governments and Agencies

The California Energy Efficiency Strategic Plan, first published by the California Public Utilities Commission in 2008 and updated in 2011, outlines California’s strategic goals to increase energy efficiency across myriad...more

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