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Real Property, Financial Services & Title Insurance Update: Weeks Ending May 15, 2015

REAL PROPERTY UPDATE - State-Created Entity/First-Party Bad Faith: immunity of Citizens, as provided in Section 627.351(6)(s), Florida Statutes, shields it from statutory first-party bad faith claims under Section...more

Real Property, Financial Services & Title Insurance Update: Weeks Ending May 1 & 8, 2015

Foreclosure: trial court abused its discretion in dismissing foreclosure action with prejudice, cancelling substantial debt, and denying lender ability to refile a foreclosure action without making finding of facts as...more

Borrowers Cannot Challenge Mortgage Assignments, Says Nebraska Joining Other States

Attacking sufficiency, accuracy, or validity of assignments of mortgages and deeds of trust has been among the most common strategies employed by borrowers to challenge foreclosures. Allegations regarding the status of MERS,...more

Garnishing Non-Cash Proceeds from Sale of a Homestead

Cash proceeds obtained from the sale of a homestead property receive protection from creditors’ claims, provided the funds are not commingled with other assets and are intended in good faith to be reinvested in a new...more

Real Property, Financial Services & Title Insurance Update: Week Ending February 20, 2015

REAL PROPERTY UPDATE - Sinkhole/Appraisal: reversing non-final order compelling appraisal of sinkhole claim because one is not appropriate under section 631.54(3)(c), Florida Statutes – Fla. Ins. Guar. Ass’n, Inc. v....more

Recent Developments in Colorado Construction Law

Hot Button Issues in Colorado Construction - Liability for owners, developers, contractors and design professionals - A construction defects measure, which was introduced to the state legislature in the 2014...more

Construction Law Alert: Appellate Court Rules General Contractors Can Contractually Subordinate Mechanics Lien Rights

In Moorefield Construction, Inc. v. Intervest-Mortgage Investment Co., 230 Cal. App. 4th 146 (4th Dist. 2014), a California appellate court upheld an agreement executed by a general contractor which subordinated its...more

Blog: HOA Liens Reign Supreme Under Nevada’s Interpretation of the Uniform Common Interest Ownership Act

Nevada is one of many states that adopted some iteration of the Uniform Common Interest Ownership Act, an act designed in part to aid homeowners’ associations (“HOAs”) in recovering delinquent fees from their members. As...more

Real Property, Financial Services & Title Insurance Update: Weeks Ending October 10 & October 17, 2014

REAL PROPERTY CASES - - Sinkhole Loss/Statute of Limitations: homeowners’ lawsuit was barred by the one-year statute of limitations, even though lawsuit was filed promptly after FIGA processed the claim and made a...more

New York State Court Rules That Darwin Has Duty to Defend but AIG Does Not, for Same Risk, Based on Differing Policy Language

New York state court Judge Shirley Werner Kornreich recently ruled that American International Group, Inc. (“AIG”) didn’t have to pay certain defense costs for various suits brought against QBE Holdings, Inc. and its...more

Southeast State & Local Tax: Important Developments - August 2014

The Williams Mullen Southeast State and Local Tax (SESALT) team is pleased to provide you with a comprehensive recap of important tax developments around the Southeast....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

Directors’ Alleged Breach Of Fiduciary Duty Not Subject To Anti-SLAPP Statute

A SLAPP is a strategic lawsuit against public participation. California enacted Code of Civil Procedure Section 425.16 as an antidote to SLAPP suits. In general, a SLAPP is subject to a special motion to strike unless the...more

The Nevada U.S. District Court Narrowly Interprets Sandpointe Apartments when Ruling in Favor of Entity that Acquired Loan Before...

On June 10, 2011, Nevada enacted Assembly Bill 273 (AB 273). As codified at NRS 40.459(1)(c), AB 273 limits the ability of a loan purchaser to collect a deficiency on the note and guarantees by basing the deficiency...more

Minnesota Supreme Court Recognizes New Private Right Of Action Against Residential Mortgage Loan Servicers

On April 2, 2014, the Minnesota Supreme Court in Gretsch v. Vantium Capital, Inc. recognized a new private right of action against residential mortgage loan servicers who breach their servicer participation agreements with...more

Texas Reverse Mortgage Constitutional Amendment Takes Effect

On November 22, an amendment to the Texas constitution took effect to permit the use of a reverse mortgage for the purchase of a homestead property. The amendment was approved by Texas voters on November 5. ...more

Standing qua Mortgagee: Challenging the Assignment of a Mortgage in Federal Court

Mortgages are big business. When mortgages are assigned, however, the mortgagor often is a non-party to the assignment. Thus, within certain jurisdictions, mortgagors have historically lacked the requisite standing to...more

Creditors’ Deficiency Rights Impacted by Recent Nevada Supreme Court Opinion in Sandpointe Apartments, LLC v. Eighth Judicial...

On November 14, 2013, in Sandpointe Apartments, LLC v. Eighth Judicial District Court, 129 Nev. Adv. Op. 87 (Nov. 14, 2013), and in Branch Banking and Trust Co. v. Neilson, (Nov. 14, 2013) (unpublished), the Nevada Supreme...more

CC&Rs Remain Subject to Statutory Modification

Future legislation may impact current CC&R obligations. In an important decision for all communities, homeowner associations, builders, and developers, the Arizona Court of Appeals recently held that new laws may apply...more

First Circuit Rules Constitution's Appropriations Clause Quashes Flood Policy Claim Lacking Proof-Of-Loss

You know it is not going well when the court cites the Constitution at you in a breach of contract case. But so it went in DeCosta v. Allstate Insurance Co., where the First Circuit last Friday reversed the trial court and...more

Mortgage Banking Industry Fights Use of Eminent Domain To Seize Underwater Mortgage Loans

In the aftermath of the foreclosure crisis, a number of local governments are weighing whether to use the power of eminent domain to assist homeowners struggling with underwater mortgages held by lenders who have issued...more

California City Votes To Pursue Eminent Domain Plan, Legal Challenge Found Not Ripe For Injunction

On September 11, the California city of Richmond reportedly voted to proceed with a plan to employ its eminent domain authority to seize certain mortgages. As previously described, the city recently demanded that owners and...more

Showdown in the Richmond: The City of Richmond Threatens Eminent Domain on Underwater Loans

BREAKING NEWS: In a contentious 4-3 decision and amid more than 300 community members on both sides of the issue, the City Council for the City of Richmond voted to continue pursuing its eminent domain plan in the early...more

New Filings Reinforce the Need to Stop Eminent Domain Mortgage Seizure Scheme in Richmond, CA

Materials illustrate the damage the scheme would inflict on millions of savers and retirees and the Richmond and U.S. housing markets - San Francisco, CA – Important new documents were filed today in the lawsuit to...more

City attempting to seize underwater mortgages via eminent domain: constitutional objections, potential investor losses

The City of Richmond, California has commenced the process for taking by eminent domain hundreds of notes secured by mortgages on underwater residential properties owned by investors through residential mortgage backed...more

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