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When and How Can a Chapter 7 Bankruptcy Trustee Liquidate Your Collateral?

So you are chugging along with a foreclosure action (either on real and/or personal property) only to be stopped in your tracks by the borrower filing a voluntary Chapter 7 bankruptcy petition. The usual, immediate thought...more

Another Case Addressing a Potential Trap for Real Estate Investors: Dedication of Private Property to the Public

In a prior post, Implied Dedication of Private Property to the Public: the Law is Unsettled, we saw that California courts have struggled with the interpretation of Civil Code section 1009, which generally makes it more...more

South Carolina Department of Revenue Audits

The South Carolina Department of Revenue (SCDOR) administers the state’s tax laws. Like the IRS, SCDOR audits tax returns, but only certain returns subject to South Carolina tax, such as South Carolina income tax returns,...more

Recipe for a Project Bankruptcy: The Owner in Bankruptcy Through The Lens of the Construction Manager

Industry leaders agree that the economy has turned the corner and private construction projects are on the uptick.  Banks have eased lending requirements and there is more private equity money on the streets.  Inexperienced...more

Vendor Landmines

Q: Our condominium has more than 2 million square feet of unused common space. It seems like a no brainer to invite a food-and-drink vendor to use the space and charge rent based on a percentage of gross sales. Do we need to...more

Are Private Development Projects Covered by Prevailing Wage Laws?

When a governmental entity contracts with a general contractor to build a community center on government-owned land, the question of whether prevailing wages are required for workers on that project is easily answered. If...more

Getting into a fix over landlord's fixtures and fittings

The recent Court of Appeal decision in South Essex Partnership University NHS Foundation Trust v. Laindon Holdings Ltd [2016] EWCA Civ 377 is a useful reminder that landlords should consider the interplay between the...more

Are long-term leases that are not in registrable form in breach of the Planning Act (cap 232)? - A case study of Golden Village...

Under the Planning Act (Cap 232), leases of certain tenure (taking into consideration their renewal terms, if any) may constitute a subdivision for which subdivision permission is required. This issue was considered and...more

IRS Reverses Position on “Bad Boy” Guarantees

Earlier this year, the IRS issued Chief Counsel Advice 201606027 (February 5, 2016) concluding that, for purposes of the basis and at-risk limitations, an LLC member’s guarantee of entity-level nonrecourse debt conditioned...more

A Trifecta of Legal Victories for Lenders in Florida

Deutsche Bank Trust Co. v. Beauvais, Case No.: 3D14-575 (Fla 3rd DCA April 13, 2016) - Based on Beauvais, lenders should take a look at their loan documents, paying particular attention to any non-waiver and...more

Statutory Elimination of the Real Estate Broker's Fiduciary Duty

Will the California Supreme Court’s anticipated decision in Hiroshiike v. Coldwell Banker Residential Brokerage Company, significantly impact real estate agency law and the fiduciary duty of real estate agents? 25 states have...more

Pennsylvania Title Insurance Notice

Effective May 1, 2016, title insurance premiums and endorsement costs, as recommended by the Title Insurance Rating Bureau of Pennsylvania, will increase by 12% across the board. This increase applies to both the sale and...more

Non-Performing Loans and Securitisation in Europe

Considerable attention has centered in the recent past on the issue of non-performing loans (NPLs) in the European banking system. The focus has been less on securitisation as a viable alternative resolution model and more on...more

Country Survey Taking Security Over CIS Real Estate

As you know, secured loans often include real estate as a key element of the security package, whether the loans are granted for general corporate purposes, specific projects (e.g., commercial real estate and infrastructure)...more

Stamp duty land tax reforms

Stamp duty land tax – Reform of charging provisions for non-residential property - In his Budget 2016 speech, the Chancellor announced changes to the rules for calculating the stamp duty land tax (SDLT) charged on...more

My Compliments to DTE

DTE acts quickly and reasonably to settle Milford bypass case. Since I previously wondered whether DTE was engaging in chicanery by providing a construction document that identified the proposed location of the easement...more

Buyer Beware – Know Before You Wire: FTC and NAR Warn Home Buyers on Closing Costs Wire Transfer Phishing Scams

In a recent blog post on the Federal Trade Commission (FTC) Consumer Information blog, the FTC warned home buyers of an e-mail and wire transfer phishing scam in which hackers pose as real estate professionals or title...more

European Commission Adopts Regulation on Classes of Arrangements to be Protected in a Partial Property Transfer

The European Commission adopted a Delegated Regulation on the classes of arrangements to be protected in a partial property transfer or where a contract is forcibly modified by a resolution authority. The EU Bank Recovery and...more

California Supreme Court Dismisses Review of McDonald Case (Addressing Deficiency Recovery in Multi-Borrower Context)

As noted in my prior post, Money and Dirt: Reviewing 2015; Previewing 2016, one of the expected developments for 2016 was the California Supreme Court’s decision on whether to proceed with review of the Fifth District Court...more

Recent Arizona Case Law and Legislative Developments Affecting Real Estate Lending

The following information accompany a presentation Mike gave to members of the Arizona Commercial Mortgage Lenders Association (ACMLA) on March 8, 2016. A summary of legislative amendments enacted during the most recent...more

Private Flood Insurance Plans One Step Closer to Hitting the Market

Legislation to allow privatized flood insurance on the market surged unanimously through a House Financial Services Committee mark up. Voting 53-0 on March 2nd, the Committee approved the idea of enabling private flood...more

EB-5 financing accelerates in 2016 and favors (1) Hotels, (2) Mixed-Use and (3) Multifamily as top 3 targets for EB-5 funding.

Hotel Lawyer in Los Angeles at the latest EB-5 Summit - If you have been thinking about tapping into EB-5 financing for your development project, this is the time to make your decision and act quickly. If you need...more

Illinois Supreme Court Expands Who Can Seek TILA Rescission

A recent Illinois Supreme Court opinion may expose banks to a flood of TILA rescission claims by anyone who claims an ownership interest in mortgaged property. The state supreme court ruled that the right to rescind includes...more

California Supreme Court Opens Door For Wrongful Foreclosure Lawsuits and Challenges to Transfers of Mortgages: Practical...

In Yvanova v. New Century Mortgage Corporation et al, the Supreme Court of California reversed the Court of Appeal’s ruling, and held that a borrower plaintiff who has been subject to a nonjudicial foreclosure has standing to...more

Real Estate Gazette - Issue 23: Special Issue: DLA Piper's 1st European Real Estate Summit

We would like to welcome all our readers to this special issue of DLA Piper’s Real Estate Gazette, which presents material tied to the specialized topics under discussion at our first European Real Estate Summit, to be held...more

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