On March 31, South Dakota enacted SB 68, becoming the 30th jurisdiction to adopt the Uniform Real Property Electronic Recording Act (URPERA) with the enactment. URPERA, promulgated by the Uniform Law Commission in 2004, gives...more
KMTG continues our series of updates on new legislation signed by Governor Brown. All laws became effective January 1, 2014, unless otherwise stated.
School Facilities: Sale of Surplus Real Property; Return of State...more
Act 52 of 2013 amended many provisions of Pennsylvania state taxes, including some relatively minor changes to the realty transfer tax that took effect on January 1, 2014. The most significant change to the realty transfer...more
If you are purchasing a new condominium unit in Ontario and you are ready to move in, you should be aware that just because you may be moving in, this does not mean the builder (or declarant) is ready to transfer ownership to...more
In Phillips v. Parmelee, 2013 WI 105 (December 27, 2013), the Wisconsin Supreme Court rejected the argument that a broad asbestos exclusion in a business insurance policy was ambiguous. A unanimous court ruled that a real...more
The German Tax Authorities’ interpretation of the recently introduced Sec. 1 para 3a RETTA goes beyond just preventing RETT-blockers.
Within the framework of the Act on the implementation of the Directive on...more
For the first time, the Pennsylvania Supreme Court has addressed the important issue of whether, and to what extent, Pennsylvania's Loan Interest and Protection Law (Act 6) may be used as the basis for claims that do not...more
On November 14, the IRS contacted many firms to let them know that the so-called REIT working group has completed its task. The IRS’s temporary hold on issuing rulings on what constitutes real property for REIT purposes is...more
I am pleased to present to you DLA Piper’s “Doing Business in Japan” Guide.
Japan is the world’s third largest economy and remains cutting-edge in business. In 2012, 68 Global 500 Companies were headquartered in...more
The Virginia legislature recently passed the Uniform Real Property Transfer on Death Act. The Uniform Real Property Transfer on Death Act allows real property to be treated in a similar fashion as bank accounts, stock...more
Real estate and legal professionals each play a role in a commercial lease transaction. While Real estate agents create the framework for the transaction, lawyers are responsible for filling in the details. The assignment...more
In This Issue:
- When You Thought It Was Safe to Go Back in the Water - Estate Tax Revisions
- Basic Information About Durable Powers of Attorney
- Uniform Real Property Transfer on Death Act
- Per Stirpes Means...more
The Arizona Supreme Court issued an opinion last month in Thomas v. Montelucia Villas, LLC, 2013 Ariz. LEXIS 152 (June 14, 2013) that adds a few wrinkles to efforts by sellers in real estate transactions to retain “earnest...more
In This Issue: New tax treaty boosts Netherlands for inbound Chinese investment; Germany: far-reaching compromise proposed re Tax Act 2013; and, Italy clarifies tax laws re air carriers. ...more
On May 20, the U.S. Court of Appeals for the Sixth Circuit overturned a district court decision and held that Fannie Mae and Freddie Mac are exempt from state and local real estate transfer taxes. ...more
In County of Oakland v. Federal Housing Finance Agency, the Sixth Circuit published an opinion clarifying that Fannie Mae, Freddie Mac, and the Federal Housing & Finance Agency ("FHFA") are exempt from all taxation, which...more
In This Issue:
- Fiscal cliff deal brings some certainty to estate planning
- Strong governance enhances a family business’s value
- Should you donate life insurance to charity?
- Estate Planning Pitfall -...more
Many people mistakenly believe they can transfer their home to their children while retaining the right to continue living in it for the rest of their life, and remove a substantial portion of the home’s value from their...more
Originally published in Law360, February 22, 2013.
As real estate markets continue to rebound, owners of single asset real estate properties are increasingly incentivized to devise bankruptcy strategies that allow them...more
For straightforward real estate transactions involving a deed for consideration, the Pennsylvania realty transfer tax is based on the purchase price....more
Documentary Stamp Tax: Pursuant to §201.02, Florida Statutes, subject only to a few specifically enumerated exceptions beyond the scope of this article, documentary stamp tax is due on instruments conveying an interest in...more
On December 14, 2012, House Bill 4753 was ordered enrolled by the Michigan legislature. As discussed in our earlier blog, "Proposed Legislation to Prevent Cottage Uncapping - A Benefit to Cottage Owners? Or a Curse in...more
Back to Top