Family Owned Real Estate: Legal Challenges & Opportunities
Once Removed Episode 21: Passing Down the “Family Cottage” or Other Legacy Property
War of the Rosas
The government of Canada recently passed legislation that effectively bans non-Canadian individuals and corporations from purchasing residential real estate under the Prohibition of Purchase of Residential Real Estate by...more
Measure ULA, also known as the Homelessness and Housing Solutions Tax (HHS Tax), and usually referred to as a "mansion tax," has been approved by voters. The measure creates a new tax on certain property transfers in the city...more
As part of the 2020 budget, the New York State Senate and Assembly enacted new revenue legislation, which included an increase to New York State’s transfer tax and mansion tax on transfers of real property. ...more
Best Best & Krieger LLP Director of Governmental Affairs John Freshman and Assistant Director of Governmental Affairs Ana D. Schwab successfully advocated for federal legislation that will allow a land purchase by a resource...more
Legislation enacted in 2017 and amended last month significantly expands the range of prohibitions on a school district’s ability to influence the future use of real property that it sells or transfers. When disposing of real...more
On May 9, 2016, Kansas Governor Sam Brownback signed into law the Contaminated Property Redevelopment Act (the “Act”). The goal of this Act is to allow purchasers in Kansas to acquire real property with pre-existing...more
In 1999, the North Carolina General Assembly enacted the North Carolina Planned Community Act ("Act") as Chapter 47F of the North Carolina General Statutes. The Act was intended to establish certain rights for property...more
September Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts - The September § 7520 rate for use with estate planning techniques such as CRTs, CLTs,...more
On March 19, 2015, Governor Bill Haslam signed into law HB 793/SB1226, which codifies Tennessee case law regarding transfers of future interests in defeasible fee estates such as a “fee simple subject to a condition...more
In May 2013, we reported that the CFPB’s amicus program scored a victory when the U.S. Court of Appeals for the Second Circuit ruled that the sale of a single-floor condominium unit in a multistory building was subject to the...more
The sale of condominium units will no longer be subject to the registration requirements of the Interstate Land Sales Full Disclosure Act (the ILSFDA) under a bill passed by both houses of Congress. Barring a veto, the new...more
New Legislation Replacing PAMDA - The Property Occupations Act 2014 (POA) was passed on 6 May 2014. The date of commencement has not yet been announced or proclaimed. Those familiar with property transactions in...more