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Read need-to-know updates, commentary, and analysis on General Business issues written by leading professionals.

Legalized Marijuana Resulting in Real Estate High

The real estate industry is booming in states where marijuana is blooming—that is, in states that have legalized the medicinal and recreational use of marijuana. Here is a quick overview. In November 2016, voters in...more

Tax Cuts and Jobs Act Update: Key Differences Between the House and Senate Bills

by Polsinelli on

The Senate Finance Committee Chairman’s Mark for the “Tax Cuts and Jobs Act,” released Nov. 9, describes in detail the Senate tax bill and is significantly different than the House bill, as it currently stands....more

Musings on the Unified Tax Reform Framework - What It Means for the Real Estate Industry

by Goulston & Storrs PC on

This September, the Trump Administration, the House Ways and Means Committee and the Senate Finance Committee released a unified framework for a major tax reform effort. The framework is not a set of detailed legislative...more

Will the National Flood Insurance Program (NFIP) be reauthorized, extended, or what?

by Downey Brand LLP on

The National Flood Insurance Program (NFIP) will expire at the end of the month. For anyone that has read the newspaper lately, this is a lousy time for the program to expire with two hurricane’s bearing down on the Eastern...more

Two Storms: Hurricane Harvey And HB 1774

by Gray Reed & McGraw on

Although insurance claims may be the last thing on the minds of many folks in Texas at the moment, HB 1774, which governs “force of nature” related insurance claims, is currently set to go into effect on September 1, 2017....more

House Bill 1774 Requires Urgent Action by Texas Policyholders to Preserve Coverage for Hurricane Harvey Flood Claims

Even as Hurricane Harvey’s effects continue to unfold, Texas policyholders face another imminent threat. On September 1, 2017, a new Texas law becomes effective that dramatically limits insurance recoveries for Texan...more

Should REITs Worry About Section 1031 Repeal?

by King & Spalding on

One of the headline proposals contained in the Republican Party’s “Better Way” blueprint for tax reform was immediate expensing of business investments. Although the Blueprint does not directly address like-kind exchanges,...more

Land Owners Could Be Paying Proposed Severance Tax

by Barley Snyder on

Whether or not the latest natural gas severance tax proposal gets passed into law in Pennsylvania, House Bill 542 contains some interesting language land owners who have signed lease agreements with energy companies need to...more

Recent Updates to Connecticut Statutory Landlord/Tenant Law

by Shipman & Goodwin LLP on

This past legislative session of the Connecticut General Assembly saw assorted legislation that collectively seeks to further regulate the conduct of landlords, who already must navigate an often cumbersome and confusing...more

In Florida, House Bill 805 Will Likely Allow Insurance Policy Transfers

by Carlton Fields on

The Florida Legislature passed House Bill 805, regarding insurance policy transfers. If, as anticipated, the governor signs the bill into law, it will allow insurance companies writing personal lines residential and...more

West Coast Real Estate Update: February 2017 #2

by Holland & Knight LLP on

Jury Trial Waiver Undone by a Fundamental California Policy - It is common for commercial contracts to contain a choice of law provision. Some commercial contracts may even contain a clause that waives the right to seek...more

Hawaii Bill Proposes Parametric Disaster Insurance Pilot Program

by Carlton Fields on

On January 23, 2017, Hawaii lawmakers introduced a bill to establish a pilot parametric disaster insurance program aimed at preventing potential liquidity gaps between federal assistance and total economic losses in the event...more

Beware a Prop W Higher Transfer Tax

Transfer tax on the sale of most commercial property in San Francisco will increase if voters approve Proposition W. If approved, Prop W will increase the transfer tax rate by 0.25% for sales valued above $5 million...more

New Arizona Law Could Affect Homeowner Associations

by Sherman & Howard L.L.C. on

Governor Ducey signed SB1350 on June 12, 2016, and it becomes effective January 1, 2017. The bill prohibits municipalities from restricting or regulating the ability of homeowners to use their property as vacation rentals...more

Director Cordray Responds To Letter from Senators Seeking Tailored Rulemaking for Community Banks and Credit Unions

by Ballard Spahr LLP on

Last month, a bipartisan group of 70 senators were signatories to a letter sent to Consumer Financial Protection Bureau (CFPB) Director Richard Cordray urging the CFPB to “carefully tailor its regulations to match the unique...more

New Law Affects FHA Requirements for Condominium Financing

by Ballard Spahr LLP on

President Obama signed the Housing Opportunity Through Modernization Act (H.R. 3700) into law on July 29. Title III of the Act will significantly modify Federal Housing Administration (FHA) condominium mortgage insurance...more

Second DCA Reaffirms Sinkhole Insurers' Contractual Right to Withhold Payment for Subsurface Repairs Until the Policyholder...

Two new opinions show the Second DCA continues to hold that if an insurance policy providing sinkhole coverage authorizes the insurer to withhold payment for subsurface repairs until the policyholder presents a signed...more

The Uniform Commercial Real Estate Receivership Act (Part 1) — Pathway to “Receiver Sales” of Real Estate Security?

“Uniform” laws seem to be all the rage these days. A group called the Uniform Law Commission (aka National Conference of Commissioners on Uniform State Laws) does the drafting, and the goal is to come up with a...more

Recent Florida Legislation Will Allow for Creation of Specialty Sinkhole Coverage Lines

by Carlton Fields on

The Florida Legislature passed legislation this session that allows specialty limited sinkhole coverage. According to the Florida Office of Insurance Regulation, Florida has more sinkholes than any other U.S. state. As such,...more

Developer Control of Homeowner Associations Could Diminish in South Carolina

by Nexsen Pruet, PLLC on

State Committee at work; legislation pending - The South Carolina 2015-2016 Appropriation Act established the "South Carolina Committee on Homeowners Associations." Thirteen individuals, consisting of lawmakers,...more

Tennessee Amends Condominium Lien Law to Clarify Lack of Superpriority Right

On April 19, 2016, Tennessee Governor Bill Haslam signed HB 2401, amending Tennessee’s condominium statue to make it clear that condominium associations cannot acquire a “superpriority” lien that trumps a first security...more

California’s Fair Day’s Pay Act May Impose Liability on Individuals for Wage Claims

by Perkins Coie on

Although some states have long imposed personal liability on officers and directors for unpaid wages, the laws in both California and New York have recently been amended to address personal liability. This update addresses...more

Private Flood Insurance Plans One Step Closer to Hitting the Market

by Locke Lord LLP on

Legislation to allow privatized flood insurance on the market surged unanimously through a House Financial Services Committee mark up. Voting 53-0 on March 2nd, the Committee approved the idea of enabling private flood...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

Senate Passes Extenders Legislation – Moves to President for Signature

by Goulston & Storrs PC on

Last week the Senate voted 65-33 to pass the Extenders bill (H.R. 2029) and it moves to the President where it is expected to be signed.  As discussed in more detail in this blog, the legislation makes permanent or creates an...more

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