Finance & Banking, Residential Real Estate, Construction Law

CFPB Takes Action Against Real Estate Kickbacks Under RESPA

by Stephen M. Quinlivan | Leonard, Street and Deinard - Employee... on 5/21/2013

The CFPB has ordered a Texas homebuilder, Paul Taylor, to surrender more than $100,000 he received in kickbacks for referring mortgage origination business to Benchmark Bank and to Willow Bend Mortgage Company....more

Insolvency in the Building and Construction Industry: Proposed Amendments to the Building and Construction Industry Security of...

by Marcel Marquardt, Sandra Steele | K&L Gates LLP on 4/29/2013

The Industry and Current Legislation - The NSW building and construction industry (the Industry) is plagued by a high level of insolvencies. In the 2012 financial year, almost 25% of the external administrations...more

Illinois House Considers Bill to Allow “Bonding Off” of Mechanics Liens

by Timothy Patenode, Jennifer Ryan | Katten Muchin Rosenman LLP on 4/12/2013

Lenders in Illinois might want to take note of pending Illinois House Bill 2804. The bill would amend the Mechanics Lien Act, so as to allow “bonding off” of mechanic liens for the first time in Illinois. Nearly every state...more

Court Invalidates Mechanic's Lien for Seeking Excessive Amount

by Ryan Klein | Sherman & Howard L.L.C. on 4/5/2013

A mechanic's lien is a very powerful tool for prime contractors, subcontractors, suppliers, and laborers to seek compensation for work provided on construction projects. This tool, however, becomes excessive, invalid, and...more

Changes to North Carolina's Mechanics' Lien Statue

by Brian Evans, Samuel Reaves | K&L Gates LLP on 3/29/2013

There are significant changes to North Carolina’s mechanics’ lien statute that take effect on Monday, April 1, 2013. These changes impose new duties on property owners regarding the designation of a private lien agent on...more

Simplifying the Mechanic's Lien Agent Process: N.C.'s New Online Clearinghouse

by Bryan G. Scott | Spilman Thomas & Battle, PLLC on 3/29/2013

As I have discussed in the past, North Carolina’s General Assembly recently introduced the concept of Mechanic’s Lien Agent (MLA) into our state’s lien laws to address so-called “hidden liens” that have long been a thorn in...more

A Breach Of A Fiduciary Duty Claim May Be Waived

by Schecter Law on 3/25/2013

A dispute arose between Band and Libby regarding the development and construction of a luxury condominium. Band, the managing general partner of the development and an attorney, contacted Libby to invite him to become an...more

Changes Taking Effect to North Carolina Lien and Bond Laws

by John Mabe | Nexsen Pruet, PLLC on 3/14/2013

The rules are changing when it comes to North Carolina lien and bond laws. And, the new provisions are substantially altering the way in which all parties involved in lien rights – from owners, buyers, and sellers to general...more

IRS Releases Audit Memorandum on Another HTC Transaction

by David Cohen, Mark Limardo | Katten Muchin Rosenman LLP on 3/14/2013

The Internal Revenue Service recently released Field Attorney Advice 20124002F, revealing another attempt on audit to invalidate an allocation of historic tax credits (HTCs) to an HTC equity investor. Although only just made...more

International Interest Grows in Florida Real Estate Development: Currencies, Culture Work Together to Grow Foreign Interest in...

by Rosa Eckstein Schechter on 3/14/2013

Currency devaluations in other nations are a big factor, but not the only factor, in growing international interest in South Florida real estate development. Consider these recent monetary events...more

Drafting A Takeover Agreement

by Patricia Thompson | Carlton Fields on 2/13/2013

This article discusses the issues an owner, lender, completion contractor, and surety should consider when drafting a takeover agreement. Although each of these four main parties may share the basic goal of seeing the project...more

Condominium Purchaser’s Cancellation Rights Under Florida Statute Section 718.503

by Neha Dagley | Schecter Law on 1/11/2013

Florida Statute section 718.503(1)(a)1. states, in relevant part, that a contract for the sale of a residential unit must...more

How is Florida's 2nd Largest Land Owner Doing? Revisiting The St. Joe Company as a Predictor for Florida Commercial Real Market in...

by Rosa Eckstein Schechter on 12/26/2012

Floridians recognized the name "St. Joe" and with good reason: this Jacksonville company is the second largest land owner in the State of Florida, owning approximately 567,000 acres as of a tally last month....more

Construction E-Note - December 2012

by Burr & Forman on 12/20/2012

In This Issue: - Florida Close to Approving Miami-Orlando Airport Train - Beltline Development Along Atlanta's Eastside Soaring - Plans for New Atlanta Falcons Stadium Move Forward - Tampa Gets First Glimpse of...more

Contracts For Future Residential Construction Fuel Florida Rebound

by Jay M. Sakalo, Stacia A. Wells | Bilzin Sumberg Baena Price & Axelrod LLP on 12/19/2012

The total dollar value of contracts for future residential construction in Florida has risen more than 45 percent for the year to date, which translates into approximately $1.2 billion of new construction work in a state that...more

Antitrust "Tying" Claims Dismissed Against Homebuilders

by Joseph E. Gallo, Michael Rosensaft | Katten Muchin Rosenman LLP on 12/18/2012

The US District Court for the Eastern District of California recently ruled on the type of activity that constitutes a claim of impermissible “tying” under federal antitrust law, holding that the alleged misconduct of a group...more

Officer Liability for Bank Losses: The Jury Speaks

by John F. Libby, Harold P. Reichwald | Manatt, Phelps & Phillips, LLP on 12/12/2012

Last week, a jury in Los Angeles federal court in a case entitled FDIC v. Van Dellen, et al. found three former officers of the failed IndyMac Bank liable for $168 million in losses in construction loans suffered by the...more

What are the time limits for filing a construction lien?

by Lianne J. Armstrong | Lerners LLP on 11/20/2012

Contractors, sub-contractors and suppliers all need to know how long they have to register their construction lien(s). The time limits to register a construction lien under the Ontario Construction Lien Act are as...more

Developers take advantage of low income housing development tax credits, but recent Third Circuit decision stirs controversy

by Alexandra R. Tilghman | Thompson Coburn LLP on 11/15/2012

Developers of multi-family apartment complexes geared to low- to moderate-income tenants are increasingly taking advantage of federal low-income housing tax credits (LIHTC) and, where available, their state counterparts, to...more