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Residential Real Estate Updates

Read Residential Real Estate law updates, news, and legal analysis from leading lawyers and law firms:
Rivkin Radler LLP

Tax Considerations for Individuals Targeted by New York’s Assault on Real Property Ownership

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Last month, New York’s governor announced that the State’s FY 2027 budget will include the enactment of an annual surcharge on second homes in New York City that are valued at $5 million or more. Query how much greater the...more

Troutman Pepper Locke

OCC Finalizes Escrow Rules to Further Strengthen Federal Preemption

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On May 15, the Office of the Comptroller of the Currency (OCC) finalized two closely linked rules on mortgage escrow accounts that respond directly to the issues we discussed in our recent post, Second Circuit on Remand in...more

Hinshaw & Culbertson - Consumer Crossroads

OCC's Final Escrow-Interest Preemption Rules Bolster the Second Circuit’s Cantero Decision

On May 15, 2026, the Office of the Comptroller of the Currency (OCC) finalized a pair of rules that were initially proposed in December 2025, declaring that OCC-regulated banks may make their own “business decisions” about...more

Ballard Spahr LLP

OCC Finalizes Rules Confirming Preemption of State Mortgage Interest-on-Escrow Laws

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On Friday, May 15, 2026, the Office of the Comptroller of the Currency (OCC) issued two final rules on national banks’ and federal savings associations’ real estate lending powers related to mortgage escrow accounts. The...more

Freeman Mathis & Gary

Georgia Property Owners’ Bill of Rights Act: What’s new and when it takes effect

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During the 2026 legislative session, the Georgia General Assembly passed Senate Bill 406 titled the “Georgia Property Owners’ Bill of Rights Act”. On May 12, 2026, Governor Kemp signed Senate Bill 406 into law. This new law...more

Hogan Lovells

NYC’s Pied-à-Terre Tax moves forward—but key questions remain

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New York State Governor Kathy Hochul has provided details for calculating the highly controversial pied-à-terre tax on second homes in New York City. A hurdle facing the proposed tax is that the New York City Department of...more

Cozen O'Connor

Mamdani Administration’s SPEED Report Aims to Speed Up Housing Production

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On May 13, 2026, the Mamdani administration released the Streamlining Procedures to Expedite Equitable Development, or “SPEED,” report, outlining administrative reforms intended to cut development timelines for certain...more

Foley & Lardner LLP

Wealth Tax Watch: Washington’s Millionaires Tax Will Not Go to the Voters, and Updates to New York’s Taxes on Real Estate

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In our third installment of recapping states’ efforts to impose new taxes on high-net-worth individuals, we provide updates on Washington’s Millionaires Tax, New York State’s efforts to tax New York City property, and New...more

Snell & Wilmer

Arizona Court of Appeals Clarifies Homeowners Association Open Meeting Requirements

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A Z N H Revocable Trust v. Sunland Springs Village Homeowners Association, No. 1 CA-CV 25-0424 (Ariz. Ct. App. Apr. 28, 2026)...more

Winstead PC

Institutional Ownership of Single-Family Housing and Build-to-Rent Communities: Emerging Regulatory Trends and What Developers...

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Over the past several years, institutional ownership of single-family rental housing has become an increasingly significant political and regulatory issue at both the federal and state levels. ...more

Orrick, Herrington & Sutcliffe LLP

Mortgage servicer agrees to $9M class settlement over ‘pay-to-pay’ fees in North Carolina

On May 6, the plaintiff in a certified class action in the U.S. District Court for the Middle District of North Carolina moved, and filed a supporting memorandum, for preliminary approval of a $9 million settlement with a...more

Orrick, Herrington & Sutcliffe LLP

Fannie Mae announces updates to Selling Guide

On May 6, Fannie Mae issued a Selling Guide announcement, updating requirements in four areas: (i) Remote Online Notarization (RON): Fannie Mae removed the requirement for sellers and servicers to retain a video recording of...more

Orrick, Herrington & Sutcliffe LLP

Second Circuit again finds National Bank Act preempts NY interest-on-escrow law

On May 5, the U.S. Court of Appeals for the 2nd Circuit held in a 2-1 decision that the National Bank Act (NBA) preempted a New York law that, as applied to national banks, required mortgage servicers to pay at least 2...more

Butler Weihmuller Katz Craig LLP

Collapse Coverage in First-Party Property Cases

What is considered a covered “collapse” under a homeowner’s policy? One Florida appeals court recently addressed this question in Escobar v. Citizens Prop. Ins. Corp., No. 3D24-1234, 2026 WL 817362 (Fla. Dist. Ct. App. Mar....more

Moore & Van Allen PLLC

Client Alert: South Carolina Freezes Certain Nonprofit Low-Income Housing Property Tax Exemption Applications

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Key Points - This is the second late-session bill affecting the nonprofit housing property tax exemption. As covered in our May 12, 2026, client alert, H. 5006 was amended on the Senate floor to rewrite the exemption under...more

Venable LLP

Virginia Limits Local Parking Minimums to Support Housing Affordability

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In an effort to reduce housing costs and facilitate new housing projects, the Virginia General Assembly recently passed House Bill 888, new legislation aimed at reducing minimum parking requirements imposed by local...more

Vorys, Sater, Seymour and Pease LLP

10th District Declares Key Provisions of HB 126 Unconstitutional

On April 28, 2026, the Tenth District Court of Appeals found unconstitutional the restrictions imposed on non-property owners seeking to increase property tax valuations. In so holding, it reversed the dismissals by the...more

Allen Matkins

Sustainable Development and Land Use Update 5.14.26

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The California Coastal Commission has long posed a significant hurdle to coastal housing production, even as state law has streamlined residential development elsewhere. But the tide may be turning....more

Stikeman Elliott LLP

“One Kick at the Can”: The SCC Clarifies Cause of Action Estoppel in Patrick Street Holdings

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On May 8, 2026, the Supreme Court of Canada released its decision in Patrick Street Holdings Ltd. v. 11368 NL Inc., 2026 SCC 15, clarifying the scope and application of res judicata  and in particular cause of action...more

Kennedys

Court of Appeal reinforces substance over technicality in Pay Less Notices and clarifies the “residential occupier” exception

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The Court of Appeal has provided an important reminder that the courts will focus on commercial reality, rather than technical traps, when considering payment notices under the Housing Grants, Construction and Regeneration...more

Saiber LLC

All-Cash Sales and Waived Inspections: Key Legal Risks for Seller’s Brokers in a Competitive Real Estate Market

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In a competitive real estate market, sellers and listing brokers may view all-cash offers and waived inspections from a prospective buyer as the cleanest path to a fast closing. Those terms can certainly be attractive because...more

J.S. Held

When and Where Do Code Upgrades Occur During a Structure's Renovation?

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Insurance claims professionals, coverage counsel, property insurers handling complex renovation or property loss claims, construction attorneys, forensic engineers, building owners, and risk managers involved in renovation...more

Hinshaw & Culbertson - Consumer Crossroads

Key Takeaways from the 2026 MBA Legal Issues and Regulatory Compliance Conference

A group of our Hinshaw colleagues had a front-row seat as the Diamond Sponsor firm at last week’s Mortgage Bankers Association Legal Issues and Regulatory Compliance Conference in Miami from May 4–7, 2026. Several of our team...more

Orrick, Herrington & Sutcliffe LLP

From Parking Lots to Permanent Homes: How Religious Institutions Are Solving the Affordable Housing Crisis and How Smart Financing...

Across the country, a quiet revolution is underway in unexpected places: church parking lots. From Los Angeles to Detroit, religious institutions of every denomination are sitting on some of the most underutilized land in...more

Adams & Reese

Florida HB 803: Beyond the $7,500 Exception

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HB 803, signed into law on May 7, 2026, exempts certain residential construction work valued under $7,500 from building permit requirements, effective July 1, 2026 - but the bill’s impact on Florida’s construction industry...more

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