REAL PROPERTY UPDATE - Foreclosure/Loan Modification: foreclosing plaintiff was required to allege and prove default of loan modification agreement after trial court found the loan modification to be the operative...more
A significant change to one of the standard title insurance forms recently took effect. The new 2016 ALTA Commitment with Florida Modifications both streamlines the existing features of the title insurance commitment and, for...more
February Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts - The February § 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs...more
REAL PROPERTY UPDATE - Foreclosure – Involuntary Dismissal: although lender’s witnesses failed to explain lender’s loan payment history statement, the statement reflected the principal amount due and had been admitted...more
Legal actions regarding “Made in the USA” claims, whether prosecuted by the Federal Trade Commission (FTC) or through various state unfair trade practices acts, often settle early in the proceedings. For example, in 2014,...more
The use of representations and warranties insurance is becoming increasingly commonplace in M&A transactions, particularly in competitive auction processes where use of the product has become almost ubiquitous. While much has...more
REAL PROPERTY UPDATE - Foreclosure/Leave to Amend: borrower should have been granted leave to amend to assert affirmative defenses pursuant to motion filed 13 days before trial because there was no prejudice, the...more
Back in August, we wrote about how the IRS would no longer automatically issue closing letters for filed Form 706, United States Estate (and Generation-Skipping Transfer) Tax Returns. Instead, the IRS will only issue closing...more
In April, we posted about the significant protection afforded mortgage lenders and servicers as part of closing protection letters including recent judicial interpretations providing critical indemnity to lenders for “actual...more
REAL PROPERTY UPDATE - Certiorari; discovery: Certiorari review was not available to an owner of property seeking review of a trial court’s order denying his discovery requests, where the order did not completely...more
Hall Eady and Spencer Mobley from the Firm’s Title Insurance Litigation Team discussed emerging issues in the world of title insurance including recent interpretations of key terms and conditions in standard form lender’s...more
Mortgage lenders and servicers frequently consider potential indemnity due under finally issued lender’s title insurance policies and strive to submit timely claims when a covered defect arises. These same parties should also...more
REAL PROPERTY UPDATE - - Foreclosure/Standing: to establish a prima facie case for mortgage foreclosure, successor mortgagor must introduce evidence it was in possession of original note with blank endorsement at time...more
Mortgage lenders are all too familiar with borrowers’ assertions that they did not receive two properly dated copies of the Truth-In-Lending Act (“TILA”) mandated Notice of Right to Cancel form (“NORTC”) at closing. Under...more