Family Owned Real Estate: Legal Challenges & Opportunities
Once Removed Episode 21: Passing Down the “Family Cottage” or Other Legacy Property
War of the Rosas
On May 9, 2023, the Montgomery County, Maryland Council voted 7-4 in favor of increasing its real estate recordation tax by enacting Bill 17-23, Taxation – Recordation Tax Rates – Amendments. Councilmember Kristin Mink was...more
The so-called “mansion tax” approved by Los Angeles voters in 2022 and effective April 1, 2023 (Measure ULA) is a misnomer. It establishes a new 4% documentary transfer tax on the sale of any real property priced or valued...more
CASES OF NOTE - CONVEYANCE OF PROPERTY RESULT OF MUTUAL MISTAKE - Thomas v. Medeiros, 100 Mass. App. Ct. 1106 (2021) - The Massachusetts Appeals Court recently affirmed a determination by the Land Court that a...more
It’s been a busy year for sales and acquisitions of multifamily properties in Maryland. We frequently represent purchasers and sellers in multifamily transfers throughout the state. This means we frequently navigate the...more
Recently the City of Chicago’s Department of Finance issued Real Property Transfer Tax Ruling #4, which clarifies the intent of the City’s Real Property Transfer Tax. The ruling details the application of the exemptions to...more
926 North Ardmore Avenue, LLC v. County of Los Angeles, (9/22/14, B248536) - The California Court of Appeals has recently held that, as a general rule, the Documentary Transfer Tax (“DTT”) applies whenever there is a...more