Family Owned Real Estate: Legal Challenges & Opportunities
Once Removed Episode 21: Passing Down the “Family Cottage” or Other Legacy Property
Law School Toolbox Podcast Episode 392: Listen and Learn -- Recording Statutes (Real Property)
In Charles v. Est. of Kornbacher, the estate sued a defendant regarding the ownership of real property. No. 01-23-00125-CV, 2024 Tex. App. LEXIS 2947 (Tex. App.—Houston [1st Dist.] April 30, 2024, no pet. history)....more
Every divorce matter in Massachusetts subjects both parties to Probate and Family Court Supplemental Rule 411, entitled “Automatic Restraining Order.” Rule 411 provides that neither party “shall sell, transfer, encumber,...more
In Koch v. David Fam. Oil & Gas Ints. P’Ship, the Court of Appeals of New Mexico held that the grantee in a deed of distribution executed by the foreign personal representative of an estate can be a bona fide purchaser in the...more
In May 2023, Florida became among the first states to limit select persons from "foreign countries of concern" from directly or indirectly owning, having a controlling interest in or acquiring an interest in Florida real...more
Have you received an offer to buy your company? Congratulations! But there is work ahead. The first step is to understand the specific deal structure, be it an asset sale, equity sale or merger. The owners should also work...more
On July 31, 2024, the New Jersey Appellate Division issued its ruling in New Jersey REALTORS® v. Township of Berkeley, upholding a trial court’s decision invalidating a municipal ordinance requiring that the owners of units...more
Tonkon Torp business attorney Mick Harris moderates a conversation between Tonkon Torp real estate attorney David Petersen and special guest Jackson Lewis of Northwest Trustee & Management Services. The conversation focuses...more
School districts in Ohio own real property for a variety of reasons including proximity to or for use as school facilities. Useful real estate for school districts does not always come with substitutes. ...more
A new Minnesota law comes into effect on August 1, 2024, which flags the importance of addressing insurance coverage within your estate plan, especially if your plan utilizes transfer on death deeds. A transfer on death deed...more
In In re Estate of Martinez, a son appealed an order finding that his mother’s holographic will devised certain property to his daughter. No. 04-22-00708-CV, 2024 Tex. App. LEXIS 1258 (Tex. App.—San Antonio February 21, 2024,...more
The farmland of North Carolina cradles not only agricultural abundance but also a significant legal challenge: heirs property (also commonly known as "heirs' property" or "heir property"). This designation arises when land...more
Imagine for a moment that you’re a shareholder in a closely held corporation. In most jurisdictions, that status as a shareholder obligates you to a heightened fiduciary duty to your fellow shareholders. Now imagine that your...more
As we have discussed on this podcast, legacy planning is not just about transferring money. It’s also about transferring values and relationships. And often the transfer of specific property goes hand-in-hand with the...more
"This Court accepts that it is very harsh for an owner of land to be forcibly compelled to sell land that they have no desire or wish to sell—this amounts to a private expropriation. This Court also accepts that it is very...more
Early in this writer’s career lawyers used to have to be careful about possible capital gains tax on the sale of a personal residence. Before 1997 the exclusion was $125,000 per spouse and $250,000 if the taxpayers filed...more
Acreage dedications in midstream oil and gas contracts have been subject to considerable scrutiny and legal debate in recent years. This article provides an overview of the current state of acreage dedications, examining key...more
Generally, tribal lands held in trust by the federal government are exempt from state and local taxation under Section 5 of the Indian Reorganization Act of 1934 (the Act). However, when non-Indians are involved in ownership...more
There are some fascinating topics related to divorce swimming out there in the electronic world. And one we just saw is a new phenomenon where couples are deciding it’s over in every sense except the official one called...more
On February 7, 2024, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (“FinCEN”) issued a Notice of Proposed Rulemaking (the “Proposed Rule”) designed to combat and deter money laundering in the U.S....more
Since the early 1900’s, your family has owned a 105 acre farm in Greene County, Pennsylvania. In 2024, you and your siblings sign an oil and gas lease with XYZ Drilling Company. The language in the lease states that it...more
Common Entity Types - Legal persons (such as corporations) and natural persons can generally hold rights over real property in Canada. Investment in real estate can be made through direct ownership by an individual or...more
KEY FACTS OF REAL ESTATE ACQUISITIONS UNDER UKRAINIAN LAW - І. Types and specifics of real estate in Ukraine - The main types of real estate in Ukraine are the following: • plots of land; • other objects...more
KEY FACTS OF REAL ESTATE ACQUISITIONS UNDER BRITISH LAW - 1. Introduction - Historically, there has been significant investment by overseas individuals and corporations in real estate in England and Wales and in...more
A postnuptial agreement can provide similar benefits to a prenuptial agreement. When possible, we always recommend couples enter into a premarital agreement before the wedding rather than waiting to enter into a postnuptial...more
The Pennsylvania Statute of Repose for Improvements to Real Property, 42 Pa. C.S. § 5536 (PA Statute of Repose) is a powerful tool that provides protections to persons lawfully performing or furnishing the design, planning,...more