Real Estate Market

News & Analysis as of

U.S. Treasury Department to Scrutinize Certain All Cash Real Estate Transactions in New York City and Miami-Dade County

On January 13, 2016, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued two temporary Geographic Targeting Orders (the Orders) that will require title insurance companies to identify...more

Changes to Minimum Standard Detail Requirements for Land Title Surveys Coming in February

The American Land Title Association (ALTA) and National Society of Professional Surveyors (NSPS) have announced changes to the standards for the minimum standard detail requirements for land title surveys of real property....more

West Coast Real Estate Update: Feb. 2016 #2

New Legislation Limits Tax Sharing Agreements - California Senate Bill (SB) 533, which was signed into law in October 2015, went into effect on Jan. 1, 2016, and limits local government from executing tax-sharing...more

Withholding Tax Set to Increase

The Foreign Investment in Real Property Tax Act (FIRPTA) subjects foreign sellers to U.S. tax when they sell their interest in real property located in the U.S., including interests in companies that predominately hold real...more

Eminent Domain: Be Careful What You Ask For

The condemnation of property for public works may not always be as clean and easy as the government would like. Although local governments are often critical players in the cleanup and redevelopment of contaminated...more

Big Picture—What Could We See in 2016?

The other shoe finally dropped last month when the Federal Reserve announced the first interest rate hike in seven years. Now in its 37th edition, "Emerging Trends in Real Estate 2016," the highly regarded annual report...more

In Trulia, Chancery Court Continues Crack Down on Disclosure-Only Settlements

It's a familiar story in M&A transactions. A merger is announced and, within days, the plaintiffs' bar scrambles to file suits on behalf of the selling company's stockholders, alleging that the seller's board agreed to an...more

M&A Litigation Update: Delaware Chancery Court Delivers Devastating Blow to Disclosure Settlements

A new decision makes clear that parties should no longer expect the Delaware Court of Chancery to approve broad settlements of M&A class actions based on supplemental proxy disclosures. Chancellor Andre Bouchard issued a...more

Real Property, Financial Services & Title Insurance Update: Week Ending January 15, 2016 (and bonus opinion from January 20)

REAL PROPERTY UPDATE - Amendment to Foreclosure Rules and Forms: Florida Supreme Court amended Florida Rule of Civil Procedure 1.115 and Forms 1.944 and 1.996 to conform with § 702.015, Fla. Stat. (2015) and “expedite...more

FinCEN Targets High-Value Real Estate Transactions in New York and Miami

On January 13, 2016, the Financial Crimes Enforcement Network (“FinCEN”) announced that it had issued a Geographic Targeting Order (“GTO”) which will temporarily require certain title insurance companies to report the...more

FinCEN Issues Geographic Targeting Orders Requiring Identification of High-End Cash Buyers of Real Estate in Manhattan and Miami

On January 13, 2016, the Financial Crimes Enforcement Network (FinCEN) issued Geographic Targeting Orders (GTOs) that will require, temporarily, certain title insurance companies to identify the natural persons behind...more

Real Property, Financial Services & Title Insurance Update: Weeks Ending January 1 & 8, 2016

REAL PROPERTY UPDATE - Statutory Easement/Attorney’s Fees: appellants that were granted a statutory easement by way of necessity were not entitled to attorney’s fees pursuant to Florida Statutes, Section 704.04 because...more

FinCEN Cracks Down on Real Estate Secrecy in Manhattan and Miami

In yet another indication of its aggressive efforts to fight money laundering, the Treasury Department’s Financial Crimes Enforcement Network (FinCEN) today issued another Geographic Targeting Order (GTO), this time targeting...more

Take Seyfarth's 2016 Real Estate Market Sentiment Survey

As we begin the new year, Seyfarth Shaw’s Real Estate department seeks the top concerns facing the market in 2016 and invites industry executives to take our short three-minute survey. In Seyfarth’s 2016 Real Estate Market...more

Mechanics’ Lien Standard Exception in Owner’s Policies

As you, the buyer, pour over the voluminous stack of documents, disclosures and notices provided to you by the title company in connection with the impending closing of your real estate transaction, you will invariably come...more

Redlining Cases In 2015 And A New Discrimination Standard

Limited access to mortgage credit for credit-impaired and low- and moderate-income (and, therefore, disproportionately minority) borrowers has become a significant public policy challenge in the post-financial crisis era....more

PATH Act Presents Opportunities for Tax-Efficient Non-U.S. Investment in U.S. Real Estate

On December 18, 2015, President Obama signed into law the Protecting Americans from Tax Hikes Act of 2015 (the “PATH Act”). Among its numerous revisions to federal tax law, the PATH Act significantly amended various...more

Consolidated Appropriations Act Impacts REITs, FIRPTA Requirements and Depreciation

The recently enacted Consolidated Appropriations Act, 2016 makes some significant changes that affect real estate investment trusts, Foreign Investment in Real Property Tax Act reporting and withholding requirements, and...more

FIRPTA Withholding Rate Bumped Up To 15%

The Protecting Americans from Tax Hikes Act of 2015 was recently signed into law. Section 324 of the Act modifies Code Section 1445 to increase the required withholding amount on dispositions by nonresident aliens and foreign...more

PATH Act Brings Important Tax Changes for REITs

Last Friday, President Obama signed into law the Protecting Americans from Tax Hikes Act of 2015 ("PATH Act"), a permanent extenders package. Several provisions of the PATH Act are of particular importance to REITs. The...more

"New FIRPTA Reform: The Long-Awaited Game Changer for US Real Estate"

On December 18, 2015, President Obama signed into law a bill that will significantly reform the Foreign Investment in Real Property Tax Act of 1980 (FIRPTA). The Protecting Americans from Tax Hikes Act of 2015 (the Bill) will...more

After the Dust Settles: Implications of Continued Development in South Florida

To say South Florida’s real estate market is “booming” would be an understatement. The massive interest in development throughout Miami and its surrounding cities continues to increase. To quantify just how large this...more

House Passes Massive Extenders Package – Moves to Senate

Yesterday the House passed the much talked about “Extenders” legislation and it now moves to the Senate with momentum. The bill makes many of the annual extenders permanent (or for a period of multiple years) and covers a...more

Draft Your Purchase and Sale Agreements Carefully — Integration and Indemnity Clauses are Not Simple “Boilerplate”

Almost all real estate purchase and sale agreements contain provisions relating to integration and indemnity. In the “boilerplate” worldview, these provisions are standard, generic, and basically all the same —...more

A Couple Of Points About Receiverships

There's a lot to wonder about receiverships. Like, how is the Receiver's compensation calculated? And does it make a difference to compensation if a corporate shareholder says the receivership was unnecessary, and that it...more

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