Condominiums

News & Analysis as of

Real Estate Joint Venture Tips

A recent New York Times article described the increased presence of New York developers in the South Florida condominium market. The fact is that Miami real estate market has always been a seductive one for out of state...more

Foreclosing Lender Forced to File a Separate Action on Association Assessments

Foreclosing mortgagees often wait until after a foreclosure judgment and certificate of title are issued to determine the extent of liability to a homeowners or condominium association for past due assessments. But what if...more

Oregon Court of Appeals Clarifies Application of Statute of Limitations and Statute of Repose in Connection with Construction...

In Riverview Condo, Ass’n v. Cypress Ventures, Inc., 266 Ore. App. 574 (Or. Ct. App. 2014), the Oregon Court of Appeals clarified application of the statute of repose and statute of limitations in the context of a suit...more

The Demise of the Economic Loss Rule in Construction Defect Litigation

The Massachusetts Supreme Court recently held in Wyman v. Ayer Properties, LLC, that the “economic loss rule is not applicable to the damage caused to the common areas of a condominium building as a result of the builder’s...more

Illinois Supreme Court Agrees to Decide Breadth of Condo Developer's Tort Duties

In the closing days of its November term, the Illinois Supreme Court agreed to review a decision from Division 5 of the First District with potentially significant implications for developers: Henderson Square Condominium...more

Minnesota Holds “Comparable Material and Quality” Requires Wholesale Replacement Where Undamaged Siding Is Faded

Matching issues are frequently problematic when storms damage only portions of an insured structure’s exterior and it proves impossible to replace the damaged sections with material that is an exact match for the rest of the...more

Oregon Court Denies HOA’s Effort to Proceed Against Subcontractors for Construction Defect

In Liberty Oaks Homeowner’s Ass’n v. Liberty Oaks, LLC, 2014 Ore. App. LEXIS 1696, the Liberty Oaks Homeowners’ Association (“HOA”) sued the developers of townhomes, alleging that they were responsible for construction...more

Amendment to the Interstate Land Sales Full Disclosure Act

Changes to the Interstate Land Sales Full Disclosure Act will be effective March 29, 2015. These changes will exempt condominium developers from the filing and registration requirements of the Interstate Land Sales Act. This...more

Condo hotels: Don’t forget the secret sauce!

Condo hotels are back in vogue as “securities” - Developers particularly like the “new model” where condo hotel investments are offered as a “securities” using the new SEC Rule 506(c) for private placements with public...more

Recent Developments in Arizona Construction Law

Notable 2014 Case Law: Bonds - In Ponderosa Fire District v. Coconino County, 235 Ariz. 597 (Ct. App. Ariz. 2014), the Court of Appeals considered whether the County had discretion to decide not to call...more

11th Circuit Holds Real Estate Developer Recognized Capital Gain on Sale of Contract Right

In reversing the Tax Court, the 11th Circuit in Long v. Comm’r allowed a real estate developer favorable capital gain treatment upon the sale of its rights to a land purchase contract for a condominium development, even...more

New Condominium Exemption To The Interstate Land Sales Full Disclosure Act

As we previously reported, a significant amendment to the Interstate Land Sales Full Disclosure Act (ILSA) becomes effective on March 26, 2015. HR2600 adds an exemption from registration for a “condominium unit.” This is a...more

Dispute Over Landscaping Repairs Results in Personal Penalties against Condo Directors and a Fascinating Governance War Story

Court decisions holding corporate directors personally liable for acting in bad faith tend to be few and far between in Canadian jurisprudence. The recent Ontario Court of Appeal decision in Boily et al v Carleton Condominium...more

Time Limit on Filing Certain Construction Lawsuits Extended

A recent Illinois Appellate Court decision extends the time period in which a certain type of legal claim can be made against a general contractor on a construction project. The decision, 15th Place Condominium Association v....more

“First” Deeds of Trust now Second in Line?

Never a dull moment. We at Crunched Credit are probably guilty of excess and perhaps myopic focus on our federal government and its regulatory apparatus; it is such a consistently reliable source of commentary and outrage. ...more

There is Still No Private Right of Condemnation (Generally)

Most people understand the basic concept of eminent domain: the government takes someone’s private property and pays the owner “just compensation” for the taking. Sometimes, however, the government “takes” (or “damages”)...more

Using condo hotels for financing new hotel development: The traditional condo hotel structures as “non-securities”

A properly structured deal is critical to success - Perhaps the greatest satisfaction of working in the real estate industry is that a single transaction can produce so many winners. Properly structured deals can offer...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

Condo hotel revolution and resurgence: Why developers are using “new breed” of condo hotels for financing - One “little” legal...

We are now at a pivotal point for condo hotels. We are witnessing the complete turnaround in the way developers will structure condo hotel deals — particularly for high-end and luxury properties. This 180 degree turnaround in...more

Nevada Supreme Court Clarifies Right to Construction Defect Remedies Involving Residential Units with Previously Occupied Spaces

In Oxbow Constr., LLC v. Eight Judicial Dist. Ct., 2014 Nev. LEXIS 109, 130 Nev. Adv. Rep. 86 (Nev. Oct. 16, 2014), the Nevada Supreme Court considered issues regarding class-action certification and the availability of...more

Vendees' Liens—Construction Lenders Beware!

A recent Arizona Court of Appeals decision highlights a lien priority risk for secured construction lenders when the financed project fails. The problem—known as a “vendee lien”—is most likely to arise when up-front deposits...more

Lakewood Passes Construction Defect Action Reform

On October 13, 2014, Lakewood’s City Council passed Ordinance O-2014-21, which reforms the process for handling construction defect claims on condominium projects in the City of Lakewood. The ordinance has three primary...more

City of Lakewood Adopts Ordinance to Encourage Condominium Construction and Reduce Construction Defect Litigation

On Monday, October 13, 2014, the City of Lakewood became the first Colorado municipality to adopt legislation intended to encourage construction of “for sale” multifamily projects by mitigating the risks to developers and...more

Condominium Law Alert: Condominium Units Now Exempt from ILSA Registration

On September 26, 2014, President Obama signed H.R. 2600, which amends the Interstate Land Sales Full Disclosure Act (“ILSA”) to exempt condominium pre-sales from the registration requirements of the ILSA. ...more

Implications of a homeowner association’s statutory priming lien

While representing an institutional lender in the making of a loan secured by real property located in Colorado, we came across an increasingly relevant issue regarding properties subject to a homeowner association or similar...more

162 Results
|
View per page
Page: of 7