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Business Succession for Real Estate Companies

Planning for a business succession – sale or transition of a business to new owners – is as important as planning for business formation or business operations. In our experience, however, planning for business succession is...more

Crossing the line? Obtaining Building Permits for Decks in CIC’s

by Hellmuth & Johnson PLLC on

As summer gets into full swing, Minnesotans spend more time outdoors, and some community association members make plans to build or replace decks attached to their homes. In many cases, such decks extend beyond the unit...more

Vallagio Ruling Favorable for Condominium and Planned Community Developers

On June 5, 2017, the Colorado Supreme Court issued its eagerly anticipated ruling in Vallagio at Inverness Residential Condominium Association, Inc. v. Metropolitan Homes, Inc., et.al. (217 CO 69) (“Vallagio”). In its 5-2...more

IRS Announces Disagreement with Ninth Circuit’s Holding on Completed Contract Method of Accounting

by Miles & Stockbridge P.C. on

The IRS recently announced its disagreement with the Ninth Circuit’s ruling that, with respect to planned communities, the 95% test under the completed contract method of accounting applies on a development-wide basis rather...more

Reaction to Uncertainty in Affordable Housing Industry Brought on by Trump Election

The 2016 Election has created more questions than answers for the affordable housing industry. Very little is known about President-elect Trump's vision for affordable housing. On one hand, Mr. Trump has described himself as...more

Last Call for Opt-Out: Summary of Condominium Sprinkler Retrofit Requirements and Opt-Out Provisions

by Roetzel & Andress on

The deadline for opting-out of the Condominium Sprinkler Retrofitting Requirements is December 31, 2016. The following is a general summary of the state of the law for those who still need to opt–out or who want to review...more

Weekly Update Newsletter - September 2016 #4

by PilieroMazza PLLC on

GOVERNMENT CONTRACTS - Amendments to Department of Defense (“DOD”) Mentor-Protégé Program DOD has issued a proposed rule which will amend the DFARS to implement Section 861 of the NDAA 2016, which provides amendments...more

Investor-initiated integrated site development: new opportunities

by Dentons on

Starting 1 January 2017 holders of land plots and the immovable properties on the land plots will be able to get approved site development and site survey plans within one month without public hearings as part of integrated...more

Remission of stamp duty on certain conveyance directions - Licensed housing developers

by Dentons on

Introduction - 1. Where a party (Vendor) enters into an agreement (Main Contract) to transfer any immovable property (Property) to another party (Initial Purchaser), and before having obtained a conveyance of the...more

Piercing The Corporate Veil Takes More Than Just Fraud By The Individual

Many of us have endured the nightmare of a disastrous home renovation or at least enjoyed Tom Hanks in The Money Pit (How long? Two weeks, of course). Well imagine spending half a million dollars, not for a new and improved...more

Court Of Chancery Explains Jurisdiction For Veil-Piercing

by Morris James LLP on

This is an interesting decision for its discussion on what must be pled to obtain Chancery jurisdiction in a claim seeking to pierce the corporate veil. It is not enough to just allege the entity was used to defraud. Rather,...more

New Condominium Sponsor-Developers Guidelines Go Into Effect November 1: Certificates of Occupancy

by Cozen O'Connor on

Earlier this week, the Real Estate Finance Bureau of the New York State Office of the Attorney General (REF) provided significant guidance on several issues facing sponsor-developers of new construction and gut-renovation...more

(INFOGRAPHIC) Amalgamation of Interests - or How to Ensure You Wasted Time Setting Up Multiple Project Companies

by Nexsen Pruet, PLLC on

There is a fairly customary practice in real estate development and construction intended to take advantage of the liability protections afforded by the Uniform Limited Liability Company Act. The practice is very...more

Officer Liability for Bank Losses: The Jury Speaks

Last week, a jury in Los Angeles federal court in a case entitled FDIC v. Van Dellen, et al. found three former officers of the failed IndyMac Bank liable for $168 million in losses in construction loans suffered by the...more

Developers May Require That Construction Defect Disputes Be Resolved Through Arbitration

The California Supreme Court recently ruled that developers – by including an arbitration provision under the Federal Arbitration Act (FAA) in Homeowners’ Association Covenants, Conditions and Restrictions (“CC&R’s”) – may...more

California Supreme Court Enforces Arbitration Provision in Construction Defect Case

by Snell & Wilmer on

In our December 2011 Under Construction newsletter, we reported on the tendency of certain California courts to decline to enforce arbitration provisions in construction defect cases. See Arbitration in California...more

Legal Update: California Supreme Court Recognizes Enforceability of Mandatory Arbitration Clause Recorded in CC&Rs in Construction...

by Miller Starr Regalia on

The California Supreme Court has issued its long anticipated decision in Pinnacle Museum Tower Association v. Pinnacle Market Development (U.S.), LLC, et al. The Court upheld a condominium developer’s ability to enforce a...more

Sifting Through The Ashes: Who Owns The Assets Of A Former Redevelopment Agency And Related Title Concerns By Brian D. Shaffer*

by Miller Starr Regalia on

I. INTRODUCTION - In California Redevelopment Assn. v. Matosantos, 53 Cal. 4th 231, 135 Cal. Rptr. 3d 683, 267 P.3d 580 (2011) (“Matosantos”), the California Supreme Court confirmed the death of redevelopment agencies...more

Condominium and New Home Warranties and Rights of Action

by Baker Donelson on

Construction defect issues diminish both the value and enjoyment of homeownership, and are significant problems for homeowners and their associations, as well as potential sources of liability for developers and builders. And...more

Distressed Condominium Relief Act Extended

by Bilzin Sumberg on

On Friday, April 6, 2012, Governor Rick Scott signed HB 517 which contains a provision extending the Distressed Condominium Relief Act (Act) otherwise due to sunset July 1, 2012. The Act was adopted in 2010 as a way to...more

Construction OberView: Condo Unit Owners Have Right of Action Against Council of Unit Owners for Failing to File Timely Suit...

by Baker Donelson on

The Maryland Court of Special Appeals has recognized a cause of action by individual condominium unit owners where the council of unit owners has failed to take timely legal action against the project’s developer to address...more

Property transactions between a director and his company

by Chris Robinson on

Directors and their advisers can be exposed to large losses if they overlook the need for formal shareholder approval of property transactions, including grant of leases, between a company and its director or his associates....more

Top 3 Tips for Smartly Handling Project Documents

by Melissa Dewey Brumback on

This article gives tips for minimizing risk through proper project document management....more

"Pay When Paid" not enforceable in North Carolina contracts

by Melissa Dewey Brumback on

"Pay when paid" clauses are enforceable in some jurisdictions, but not in North Carolina. This article discusses the statutory prohibition on such clauses in North Carolina....more

What isn't in your construction contract?

by Melissa Dewey Brumback on

Sometimes, what is not in your construction contract can be harmful to your business. This article provides tips to minimize your risks by making modifications to your contracts....more

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