News & Analysis as of

Appraisal Clauses

Agencies Announce Threshold for Smaller Loan Exemption From Appraisal Requirements for Higher-Priced Mortgage Loans

by Katten Muchin Rosenman LLP on

On November 25, the Consumer Financial Protection Bureau, Board of Governors for the Federal Reserve System and Office of the Comptroller of the Currency announced that the threshold for exempting loans from special appraisal...more

CFPB Makes No Change to Exemption Thresholds for Appraisal Requirement, Regs Z, M

by Ballard Spahr LLP on

The CFPB has published notices in the Federal Register announcing that it is making no change to three exemption thresholds that are subject to annual inflation adjustments. Effective January 1, 2016, through December 31,...more

Avoiding Gamesmanship in Appointing Appraisal Umpires

by Zelle LLP on

Appraisal has long been utilized as a tool for resolution of disputes over the amount of loss at issue in property insurance claims. Unfortunately, the appraisal process has devolved in recent years. What was once considered...more

Florida’s Third District Finds $120,000 Attorneys’ Fee Award Against Insurer To Be Excessive

In State Farm Fla. Ins. Co. v. Alvarez, 2015 Fla. App. LEXIS 13767 (Fla. Dist. Ct. App. 3d Dist. September 16, 2015), the Third District reversed a $120,000.00 award for attorneys’ fees entered in favor of Jose and Martha...more

Texas Court Addresses What Constitutes an “Itemized” Appraisal Decision

by Cozen O'Connor on

On Tuesday of this week, a unanimous panel of Texas’ intermediate level appellate court rejected arguments that an appraisal award that set forth lump sum replacement cost, depreciation, and actual cash value amounts for real...more

Watch the Glitch: Amendments to the Revised LLC Act

The Florida Legislature recently adopted amendments to chapter 605 of the Florida Revised Limited Liability Company Act (the “Act”) which will generally go into effect July 1, 2015. The amendments were passed to correct...more

A House of a Different Color: The Changing Role of Appraisal Panels

by Robins Kaplan LLP on

Minnesota’s severe weather season is here. With that season comes the possibility of hail, heavy rain, lightning, and other weather-related threats that can quickly result in serious property damage to residential and...more

6th Circuit Holds that Accountants Conducting Financial Arbitration Can Also Make Legal Determinations

A new case from the Sixth Circuit addresses whether accountants who are resolving a dispute about payments made under an agreement can also make legal determinations about the same agreement. In a 2-1 decision, the Sixth...more

What’s New in Delaware: Fee-Shifting and Forum Selection Bylaws, Appraisal Rights and Rapid Confidential Arbitration

by K&L Gates LLP on

The Corporation Law Section of the Delaware State Bar Association recently approved amendments to the General Corporation Law of the State of Delaware (the “Proposed DGCL Amendments”), which would prohibit Delaware stock...more

Florida Court Holds “Retained Rights” Provision Does Not Render an Appraisal Clause Unenforceable

by Cozen O'Connor on

In a pair of sinkhole cases, different panels of Florida’s intermediate level appellate court recently compelled appraisal, and the decisions are instructive because they address both challenges to the procedure and also the...more

Six Considerations for Rent Arbitration Clauses in Commercial Leases

by Bennett Jones LLP on

When a commercial tenant exercises an option to renew a lease it is imperative that the landlord and tenant have effective mechanisms in place to determine the rent for the renewal term. Ideally both parties will agree on the...more

Tale of the Texas Appraisal Provision

by Zelle LLP on

A long time ago in a land far, far away, property insurers and their insureds recognized that not every insurance dispute necessitated the expense and headache of a full-blown lawsuit. The result of this recognition was the...more

Texas Appellate Court Enforces Appraisal Provision

In a recent decision, the Court of Appeals of Texas for the Fourteenth District revisited the scope of the appraisal process in light of the prior holding in State Farm Lloyds v. Johnson, 290 S.W.3d 886 (Tex. 2009). ...more

The Growth of Appraisal Litigation in Delaware

Numerous commentators and academics have written about the growth of M&A litigation over the last several years. Less noticed, but perhaps more significant, has been the growing tendency of institutional and other large...more

Waiver of Right of Appraisal in Property Insurance Claims

by Nexsen Pruet, PLLC on

A frequent issue in first party property insurance claims is whether a party has waived the right to invoke the appraisal process in the adjustment of a property claim. Appraisal is the mechanism for determining the amount of...more

Financial Services Bulletin: Action at the FRB, CFPB and OCC

by Perkins Coie on

Agencies Propose Rule Exempting Certain Mortgages from Appraisal Requirements - On Wednesday, July 10, 2013, the Board of Governors of the Federal Reserve System (the “Fed”), Bureau of Consumer Financial Protection,...more

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