News & Analysis as of

Real Estate Brokers

Free Parking, Yes, But No Stark Law Claim

by Ruder Ware on

A federal court recently dealt a victory to a health care provider over whistleblower allegations that free parking and valet service at a medical office building violated the Stark Law and the Anti-Kickback Statute....more

The Right to Seclusion of Personal Facts vs. Public Opinion

Unhappy with the valuation determination by Zillow’s Zestimates, a builder and related parties have initiated a class action suit against Zillow Inc. and Zillow Group, for class action complaint for (a) violation of the...more

CFPB Fines Real Estate Entities Over RESPA Violations

Targeting violations of the Real Estate Settlement Procedures Act (RESPA) by a mortgage lender, two real estate brokers, and a mortgage servicer, the Consumer Financial Protection Bureau (CFPB) announced almost $4 million in...more

Avoid Legal Pitfalls Selling Minnesota Multifamily Properties

by Hellmuth & Johnson PLLC on

Whether you are new to selling rental proper­ty or deal exclusively in rental property, this article offers two examples of state and local laws that apply dif­ferently to sellers depending on the number of rental units at...more

Appellate Court Notes

by Pullman & Comley, LLC on

Supreme Court Advance Release Opinions: SC19688 - State v. Lee - Appellate Court Advance Release Opinions: AC38222 - Robinson v. Robinson - Only alimony paid by a non-party / former spouse it taken into...more

Real Estate Broker Liens: Are They a Problem for Lenders?

by SmithAmundsen LLC on

Illinois law allows real estate brokers to record liens on commercial properties for commissions that they claim they are owed. When such liens are recorded, questions abound as to their validity and priority. Broker’s...more

Land Use and Environmental Pitfalls for Realtors- Includes Exclusive Power Point Presentation

by Farrell Fritz, P.C. on

On February 20, 2017, our colleagues blogged about Ader v. Guzman, 135 AD3d 668 [2d Dept. 2016] and a guidance letter subsequently issued by the NYS Department of State (NYSDOS). At issue was the responsibility of a real...more

RESPA Two-Step: CFPB Shows Continued Expansive Interpretation of Section 8

by Morrison & Foerster LLP on

On January 31, 2017, the Consumer Financial Protection Bureau (“CFPB”) announced a Consent Order (“Order”) with Prospect Mortgage LLC and certain of its affiliates (“Lender”). The CFPB alleged in the Order widespread...more

“Broker Beware” — Get Commission Agreements In Writing

All California real estate brokers should be well aware of the statute of frauds governing their work found in Civil Code section 1624(a)(4)....more

As Summer Approaches, Landlords And Brokers Must Beware Of Rental Permit Requirements

by Farrell Fritz, P.C. on

Municipalities on Long Island are struggling to control rental properties. In Southampton, rental properties are governed by Chapter 270 of the Southampton Town Code (the “Code”). Section 270-3 of the Code establishes that an...more

Applying The Statute Of Frauds Apply To “Et Al.”

by Allen Matkins on

Charles II, aka the “Merry Monarch”, was sitting on the English throne when the original Statute of Frauds was enacted in 1677. Therefore, one should be forgiven for the mistaken presumption that all questions involving the...more

Ohio Legislature Concludes 131st General Assembly in Marathon Session Lasting Until 3:30 AM Last Friday

by Roetzel & Andress on

After a whirlwind final week of the lame duck session, where the Legislature passed various, often times emotion-evoking measures (including gun rights, abortion, unemployment compensation fund changes, municipal minimum wage...more

California Supreme Court Weighs In On “Associate Licensee” Duties In Dual Agencies

Dual agencies — where a broker represents both the buyer and seller in a real estate transaction — raise plenty of thorny questions regarding the duties owed. These questions can become even more difficult when “associate...more

Managing Affordable Multifamily Rental Housing in Pennsylvania without a Broker’s License

May one manage an affordable multifamily rental housing development without a real estate broker's license in compliance with the Real Estate Licensing and Registration Act (63 P.S. § 455.101 et seq.) (RELRA)? While some...more

Court Confirms Interim Award Of Injunctive Relief But Refuses To Confirm Non-Final Opinion Of Arbitrator That Arbitration Was...

by Carlton Fields on

In a real estate broker commission dispute, the arbitrator had granted injunctive relief in favor of the plaintiff broker, ordering a percentage of the sale of certain real estate to be placed in an escrow account pending the...more

Text Messages Add New Layer of Risk to Deal-Making in the Modern Age

by Cozen O'Connor on

Texting is becoming ubiquitous in this era of 24/7 connectivity, but a recent court decision stands as a strong reminder that those quickly composed texts can be held up as a “writing” sufficient to seal a multi-million...more

Contractors Do It, PIs Do It; Why Not Real Estate Brokers?

by Allen Matkins on

Individuals and corporations, but not limited liability companies, may be licensed as real estate brokers under the California Real Estate Law. This is a result of a bargain reached when California’s enacted its first...more

Texts that Bind: Text Messages May Form Binding Real Property Contract

by Goulston & Storrs PC on

Last month, in St. John’s Holdings, LLC v. Two Electronics, LLC (No. 16 MISC 000090 (RBF)), a Massachusetts Land Court judge held that text messages exchanged between two real estate brokers may be sufficient to constitute...more

Competition Tribunal Finds Toronto Real Estate Board Engaged in Abuse of Dominance

Last week, the Competition Tribunal (Tribunal) issued a summary of its decision in the Commissioner of Competition’s (Commissioner) long-running abuse of dominance case against the Toronto Real Estate Board. This case...more

Statutory Elimination of the Real Estate Broker's Fiduciary Duty

by Hinshaw & Culbertson LLP on

Will the California Supreme Court’s anticipated decision in Hiroshiike v. Coldwell Banker Residential Brokerage Company, significantly impact real estate agency law and the fiduciary duty of real estate agents? 25 states have...more

Current Developments In Risk Management For Mortgage Brokers

by Buchalter on

Whether a mortgage broker is acting as the agent of a borrower in negotiating a loan from a wholesale lender, or arranging a loan by bringing together a proposed borrower and lender, or acting as a lender and originating the...more

Appellate Court Notes

by Pullman & Comley, LLC on

Supreme Court Advance Release Opinions: SC19474 - State v. Roman - Appellate Court Advance Release Opinions: AC37107 - NRT New England, LLC v. Jones - Plaintiff broker entered into an exclusive buyer’s...more

Senator Introduces Bill To Allow LLCs To Be Licensed As Real Estate Brokers

by Allen Matkins on

Section 17701.04(b) of the California Corporations Code provides: A limited liability company may have any lawful purpose, regardless of whether for profit, except the banking business, the business of issuing policies...more

Five Considerations Before Selling a Vineyard or Winery

Whether to sell a vineyard or winery is one of the most significant decisions an owner will make. There are financial, career, lifestyle, and other factors that go into the choice, and the calculation is different for each...more

CFPB Issues RESPA and Marketing Services Agreements Compliance Bulletin

by Stinson Leonard Street on

On October 8, 2015, the Consumer Financial Protection Bureau (CFPB) issued a compliance bulletin concerning marketing services agreements (MSAs) under the Real Estate Settlement Procedures Act (RESPA). RESPA - RESPA...more

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