As discussed in Ballard Spahr’s previous alert sent on September 24, 2014, effective March 25, 2015, the sale of condominium units will no longer be subject to the registration requirements of the Interstate Land Sales Full...more
The case of Terrace Hill (Berkeley) Ltd provides a further insight into the distinction between trading and investment.
Originally published in Tax Journal, Page 6 , on March 13, 2015....more
In the area of family law, there are many different types of proceedings that occur. However, when one of the proceedings is a record hearing, if an objection is not made to a particular issue, it is waived on appeal....more
Simple but Frequently Over-Looked Advice!
We have all signed contracts we did not thoroughly review. If we are being honest, we have probably all signed contracts we didn’t even read! While this is never a smart...more
Effective January 1, 2015, California law requires real estate brokers and agents to provide their clients and prospective clients with specific new disclosures, including an initial disclosure form regarding the nature of...more
Beginning on October 6, 2015, the United States Environmental Protection Agency (EPA) will require prospective purchasers of real estate to use the new ASTM E1527-13 Phase I Environmental Assessment (Phase I) standard (2013...more
Last week the Wisconsin Supreme Court issued its decision in Bank of New York v. Carson, 2015 WI 15. The case is significant for its potential lasting effects on mortgage foreclosures in Wisconsin. The Carson case involves...more
In re Carroll, 520 B.R. 491 (Bankr. M.D. La. 2014) – A chapter 7 trustee sought to substantively consolidate the bankruptcy estates of individual chapter 7 debtors with the separate bankruptcy estate of their wholly owned...more
The Court of Appeal recently clarified when a party can recover attorney's fees under a real estate purchase contract that is ruled to be illegal. California courts have previously enforced attorney's fees provisions in a...more
Foreclosure: trial court violated purchaser’s procedural due process rights in setting aside judicial sale of property without giving notice to purchaser. Further, trial court abused its discretion in setting aside judicial...more
Buyer beware is an old warning. A recent title insurance case reminds us just how wary a buyer must be, even in 2015. In the case of IQ Holdings, Inc. v. Stewart Title Guaranty Co., 2014 WL 6601148, the buyer thought it...more
In City of Spokane v. Fed. Nat. Mortgage Ass'n (December 30, 2014, No. 13–35655) ____ F.3d.___, the Ninth Circuit Court of Appeal recently affirmed that federal mortgage programs and administering entities, such as Fannie Mae...more
I. Introduction -
It is difficult to imagine a substantial real estate transaction which does not have title insurance coverage and an escrow agent, although one can occur at times. Unfortunately, many of the beliefs...more
After negotiations, execution of the purchase agreement, completion of due diligence and satisfaction of all contingencies, the parties to a real estate transaction are ready to close the deal. All that remains is to sign the...more
In re Trackwell, 520 B.R. 788 (Bankr. W.D. Mo. 2014) – The successful bidder at a bankruptcy auction of a ranch claimed that a cattle chute was included in the sold assets. The debtors disagreed. Resolution of the dispute...more
When multiple people inherit an interest in real property, each is responsible for their share of the ad valorem taxes of the property. What happens if one party fails to meet its tax obligations? What recourse is available...more
While it is true that you most often cannot tell much about a book by its title, the same does not hold true when it comes to real estate, as how title is held to real estate, does tell you a lot. The question faced by a...more
Recently, in Marco Crane & Rigging Co. v. Masaryk, 703 Ariz. Adv. Rep. 29 (Dec. 30, 2014), the Arizona Court of Appeals established that a subcontractor on a residential project has no lien rights against an owner-occupant,...more
After negotiation, execution of the real estate purchase agreement, completion of due diligence and satisfaction of all contingencies, the parties are ready to close the deal. All that remains is to sign the standard closing...more
What can you do when the IRS is misbehaving and it directly affects you?
You will have to fight them, but the law allows you to recover your litigation costs if you win.
As many know, the IRS has had a very...more
As previously reported, AB 1103 is California's energy benchmarking and disclosure law (codified in California Code of Regulations, title 20, sections 1680-1684), that requires owners of non-residential buildings to provide a...more
If you own properties, you should be aware that there are several different rules for reporting rental income, deductible expenses, and gains and losses from the sale of the property, depending on how it is classified. ...more
1. Should Mom and Dad give us the house as a gift now so that they don’t have to “give it to the government” later?
This is a common question that involves technical medical assistance rules. Generally, the best way to...more
When buyers encounter problems with a recently purchased house, understanding the rights and obligations imposed by Pennsylvania’s Real Estate Sellers Disclosure Law (“Disclosure Law”) can be critical. The Disclosure Law...more
Estate planning attorneys regularly advise their clients about the tax and other advantages of transferring real property to irrevocable trusts or similar estate planning vehicles. But they may not consider the potentially...more
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