Liens

Rogers Towers: Municipal Liens vs. Mortgages: Florida’s Supreme Court Rules on Superpriority Issue

by Douglas L. Waldorf, Jr. | Rogers Towers on 5/21/2013

In my April 18th post, I discussed the recent trend of municipalities enacting ordinances designed to give their code enforcement liens “superpriority” over prior-recorded mortgages. Basically, the municipalities have sought...more

What Factors Establish The Lien Priority Of A Refinanced Loan?

by Valerie Marciano | Jaburg Wilk on 5/17/2013

The legal doctrine of "equitable subrogation" has recently become familiar to lenders who refinanced or will be refinancing existing loans secured by real property....more

Legislation Roundup: Maryland General Assembly Mandates that Employers Provide "Light Duty" to Pregnant Disabled Women, Leave for...

by Joseph Harkins, Steven E. Kaplan | Littler on 5/17/2013

In May 2013, Governor Martin O'Malley signed three noteworthy statutes that will affect virtually every Maryland employer. Effective October 1, 2013, Maryland employers with 15 or more employees must provide their pregnant...more

MoFo New York Tax Insights - Volume 4, Issue 5 - May 2013

by Open Weaver Banks, Hollis L. Hyans, Kara M. Kraman, Irwin M. Slomka | Morrison & Foerster - State + Local Tax... on 5/14/2013

In This Issue: New York Enacts Significant Changes to Related Member Royalty Add-Back Law; Nuclear Power Plant That Produces Steam and Water to Generate Electricity Not Eligible for Investment Tax Credit; Appellate...more

The New Lien Waiver Form Prevents Subs And Suppliers From Being Strong Armed

by Joe Virene | Looper Reed & McGraw, P.C. on 5/14/2013

Historically, subcontractors and suppliers were compelled to sign onerous and overreaching lien waivers and releases in order to receive payment. In addition, many subcontracts contain lien waivers lurking in the boiler...more

Georgia Lien Law Revised In Favor of Contractors

by Jennifer Grippa | Miller & Martin PLLC on 5/10/2013

Legislation signed into law this week will have meaningful impacts on contractors asserting liens against property owners for non-payment. On Tuesday, May 7, 2013, Georgia Governor Nathan Deal signed into law House Bill 434,...more

Mortgagees: Don’t Lose Collateral — Take Action To Ensure You Receive Notice Of Pending Tax Deed Sales

by Christopher Linde | Burr & Forman on 5/9/2013

Summary: Mortgagees and other lienholders whose proper address does not appear in a recorded mortgage or lien may not receive notice of a pending tax deed sale and may therefore lose collateral. A recent Florida court held...more

Registration Of Condominium Liens - Time Is Of The Essence

by Barbara Holmes | Heenan Blaikie LLP on 5/8/2013

In a recent case, YCC No. 82 v. Bujold, the Court of Appeal considered the interpretation of Section 85 of the Condominium Act (the “Act”) and, in particular, the timing requirements under the Act relating to notice of the...more

The Top 7 Things To Consider Before Buying A Restaurant

by Matthew Sanderson | Looper Reed & McGraw, P.C. on 5/2/2013

There are so many things to consider when buying a restaurant that we decided to break that list down to just seven issues. If you only look at these issues, you should avoid most of the big hazards when you buy your next...more

"Post-Petition Restructuring Support Agreement Survives Challenge in Delaware"

by Mark Chehi, Van Durrer | Skadden, Arps, Slate, Meagher & Flom LLP on 4/30/2013

Background - The debtors in Indianapolis Downs operated a combined horse racing track and casino in Indiana. They had substantial secured indebtedness: more than $98 million of first lien (first priority), $375 million...more

An Update On North Carolina's New Lien Agent System

by Martin Flyke | Poyner Spruill LLP on 4/30/2013

On April 1, 2013, the changes to North Carolina’s construction lien laws enacted in July 2012 became effective. For a general overview of the pertinent changes, please review the articles written by Brian Corbett and Tom...more

Bankruptcy Courts In Georgia And Florida Show Obedience To Eleventh Circuit Court Of Appeals And Reluctantly Begin To Allow Lien...

by Bryan Glover | Burr & Forman on 4/24/2013

Three bankruptcy courts within the Eleventh Circuit have recently issued opinions in which they have reluctantly allowed the debtor to entirely strip off the interests held by junior lienholders when the value of the real...more

Municipal Liens vs. Mortgages: Which Has Priority?

by Douglas L. Waldorf, Jr. | Rogers Towers on 4/19/2013

I have recently encountered several situations in which local governments are claiming, under ordinances they have enacted, that their liens and fines have “superpriority” status over existing mortgages, regardless of when...more

State Law Update: Indiana Amends Lien Release Provisions

by BuckleySandler LLP on 4/18/2013

On April 1, Indiana enacted a bill to retroactively amend certain lien release provisions. The bill, HB 1079, provides that if the record of a mortgage or vendor’s lien was created before July 1, 2012 and does not show the...more

More Paper? CFPB Revamps Disclosure and Delivery Requirements for Valuations under ECOA

by Nanci Weissgold, Kathryn Williams | K&L Gates LLP on 4/4/2013

Come January 2014, creditors will be required to equip borrowers with more information on how the value of the borrower’s home is determined, even if the creditor doesn’t use that information in making its lending decision....more

Proceed with Caution when Considering the Acquisition of a Busted Deal

by Thompson Coburn LLP on 3/28/2013

Do not underestimate the importance of due diligence when evaluating the acquisition of a busted deal. In the world of land use and zoning, a busted deal is a planned real estate development that has failed, and the future of...more

Rogers Towers: Let the Stripping Begin: Lower Courts in the Eleventh Circuit Cautiously Embrace McNeal

by Scott St. Amand, J. Ellsworth Summers, Jr. | Rogers Towers on 3/28/2013

It was only a matter of time before judges in the lower courts of the Eleventh Circuit began to accept the appellate court’s decision in McNeal. Two such opinions have recently been published in the Middle Districts of...more

Burr Alert: Hop, Skip And Jump Through The Thorns Of Justice

by Joseph King | Burr & Forman on 3/27/2013

Every so often, we might not realize that, by our actions, we are doing exactly what the opposing party wants us to do. Perhaps we do not have an appropriate amount of time for each and every decision to consider ‘the forest’...more

Watch For Excess Proceeds Following A Trustee Sale

by Valerie Marciano | Jaburg Wilk on 3/27/2013

Believe it or not, Arizona land owners are seeing a change in the real estate landscape, perhaps only a slight change, but a change nonetheless. While Arizona law has not changed, marketplace improvement has triggered the...more

Mortgage Banking Update - March 21, 2013

by Richard J. Andreano, Jr., Stefanie Jackman, Bruce Johnson, Anthony Kaye, Barbara S. Mishkin, Allison Mollenhauer, Amy Mushahwar, Burt M. Rublin, Trevor Salter, Matthew Saunig, more +John D. Socknat, Mercedes Kelley Tunstall, Abran Vigil, Michael S. Waldron, Shane Jasmine Young | Ballard Spahr LLP on 3/21/2013

In This Issue: - Uniform State Test Implementation Nearing - Mortgage Servicer's Alleged Failure To Be Licensed Subjects Company to Claims under State and Federal Debt Collection Statutes - Sixth Circuit...more

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