General Business Residential Real Estate

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Merger Doctrine Does Not Prevent Deed of Trust Beneficiary From Extinguishing Junior Lien through Foreclosure, California Court...

The California Court of Appeal recently held that a foreclosure by the beneficiary under a first deed of trust extinguished a junior lien, even though the beneficiary acquired the property by way of a deed in lieu of...more

Southeast State & Local Tax: Important Developments - July Update

The Williams Mullen Southeast State and Local Tax (SESALT) team is pleased to provide you with a comprehensive recap of recent legislation around the U.S....more

“Your Work” Exclusion Bars Coverage for Tearing Down & Rebuilding Wall

The S.C. Court of Appeals recently applied the “your work” exclusion in a declaratory judgment action arising out of a construction defect suit to find the policy did not provide coverage. In Precision Walls v. Liberty Mutual...more

Court Grants in Part RBS Motion for Summary Judgment in Repurchase Action

On July 23, Judge William Conley of the Western District of Wisconsin granted in part and denied in part RBS Securities Inc.’s motion for summary judgment in a suit brought by CUNA Mutual Group seeking to rescind the purchase...more

GST and rental guarantees - A new ATO Determination (Australia)

The Australian Taxation Office (ATO) has today issued a new GST determination, GSTD 2014/3, relating to GST and rental guarantee arrangements. The new Determination replaces an earlier draft which had been released in April...more

Tax Talk -- Volume 7, No. 2 -- July 2014

In This Issue: - As FATCA Begins, IRS Rolls out Withholding Forms, Increases IGA Count - IRS Issues Final Circular 230 Rules Simplifying Written Tax Advice Requirements - Mortgage CCA Raises More...more

Changes Made to the Pennsylvania Mechanics’ Lien Law to Protect Holders of Open-End Mortgages and Residential Property Owners

Mechanics’ liens grant contractors and subcontractors an interest in improvements made to real property to secure the payment obligations of owners to contractors, and of contractors to subcontractors. While these liens...more

Rumsfeld, Morrison and the Discovery Rule in Texas

In August 1999, Brock and Tipton signed a Farm and Ranch Contract by which Tipton would acquire 519 acres in Montague County. (Lots of Brocks were parties to the contracts and the suit. I refer to them as one for...more

Court Grants in Part and Denies in Part Nomura’s Motion to Dismiss Trustee Repurchase Action

On July 18, Justice Marcy Friedman of the New York County Supreme Court, Commercial Division, granted in part and denied in part Nomura Credit & Capital Inc.’s motion to dismiss claims brought by HSBC, as Trustee for the NAAC...more

Sandy in the Courts

Hurricane Sandy (also known as Superstorm Sandy) struck the northeast coast of the United States in October 2012, causing an estimated $65 billion* in property damage, including wind damage, severe flooding and power outages....more

‘When Do I Get My Space?’ A Brief Tenant Improvements Guide for Tenants

You’ve had enough of building tours, negotiating lease terms, conference calls and your inbox filling up with PDFs of nearly final improvement specifications and space plans. You’ve finally signed a shiny new lease for space...more

Ninth Circuit Holds Plaintiffs Not Required To Plead Tender Or Ability To Tender To Support TILA Rescission Claim

On July 16, the U.S. Court of Appeals for the Ninth Circuit held that an allegation of tender or ability to tender is not required to support a TILA rescission claim. Merritt v. Countrywide Fin. Corp., No. 17678, 2014 WL...more

Connecticut Expands Energy Sub-Metering

Up until very recently, only campgrounds and marinas could sub-meter electricity usage. This meant that landlords were prohibited by law from sub-metering electricity to their tenants. As a result, any allocation of...more

Updating Community Association Documents

Sometimes we are asked to advise a community association about a matter relating to its documents which are two or three decades old. Such documents are frustrating to work with because they invariably contain provisions...more

Preserving The Right To Foreclose After Accepting A Deed In Lieu

When a lender seeks to foreclose under a deed of trust, often a borrower who does not have the resources or incentive to resist the foreclosure will offer the lender a deed in lieu of foreclosure. This can be an attractive...more

Ninth Circuit addresses TILA tender requirement and RESPA statute of limitations

Under the Truth in Lending Act (TILA), a borrower may seek to rescind a loan under certain circumstances. The rescission process under TILA is as follows: the borrower notifies his lender that he intends to rescind the loan;...more

Milliken v. Jacono: Home Seller not Required to Disclose Murder/Suicide

In a unanimous decision handed down July 21, 2014, the Pennsylvania Supreme Court ruled that psychological stigma is not a material defect of real estate which sellers must disclose to buyers. The Court held that the...more

Motions in Limine May be Used in Eminent Domain Proceedings to Determine Party's Interest in Property

"Motions in limine" are motions made shortly before trial, and they're typically filed in an attempt to limit the introduction of evidence to the jury. They are a powerful tool in eminent domain proceedings, and can be used...more

The Accommodation Doctrine Revisited: A Question of "Fairness to Both Parties"

As Texas holds tight to its position as the nation's number one oil and natural gas producing state, the Texas Supreme Court's decision to revisit the over forty-year-old accommodation doctrine, which requires oil and gas...more

Sixth Circuit Blurs Line Between Primary and Excess

The Sixth Circuit recently addressed the question of whether an excess insurer must provide a defense when the primary insurer fails to do so. In IMG Worldwide v. Westchester Fire Insurance Company, No. 3836 (6th Cir. July...more

Sixth Circuit Holds That Market Crash Cannot Be Considered in Determining ACV

In Whitehouse Condo. Group, LLC v. Cincinnati Ins. Co., 2014 U.S. App. LEXIS 11708 (6th Cir. June 17, 2014), the insured condominium building located in Flint, Michigan was destroyed by a fire. The parties disagreed over the...more

Massachusetts Regulators Cautions Lenders On Funding Of Mortgages, Third-Party Oversight

On July 2, the Massachusetts Division of Banks published an industry letter regarding mortgage lenders’ obligation to timely fund and disburse mortgage proceeds and oversee internal and third-party compliance with that...more

North Dakota Supreme Court Establishes Defense to “No Damage for Delay” Clause

In June 2014, the North Dakota Supreme Court issued its decision in C&C Plumbing & Heating, LLP v. Williams County et al, No. 20130297. The Court articulated a new defense to the application of a “no damage for delay” clause....more

Insurance Coverage – Duty to Defend – Construction Defects

Regional Steel Corporation v. Liberty Surplus Insurance Corporation - Court of Appeal, Second Appellate District (June 13, 2014) - There has been a split of decisions in California as to whether incorporation of...more

Insurers Say “Over My Dead Body” to Claims for Damage From Decomposition

Last April saw decisions handed down in Pennsylvania and Florida that addressed the ghoulish question of whether first-party policies cover property damage from a decomposing body, and the courts in both jurisdictions held...more

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