Residential

  • November 06, 2024

    Ga. Judge Trims Insurer's Shooting Coverage Claims

    A Georgia federal judge Wednesday threw out as premature AMCO Insurance Co.'s claim asserting it has no duty to indemnify an apartment complex facing litigation after a resident was struck by multiple bullets while sleeping, but left in place its claim it has no duty to defend the complex.

  • November 06, 2024

    FINRA Fines Firm Over Lax Real Estate Investment Diligence

    The Financial Industry Regulatory Authority ordered broker-dealer XP to pay $800,000 in restitution and penalties to settle claims that, among other things, it recommended investments in a series of real estate-focused private placements without conducting proper due diligence on them, leading to investor losses when the offerings flopped.

  • November 06, 2024

    NJ Authorizes Sharing Property Tax Info To Calculate Credits

    New Jersey authorized the sharing of taxpayers' unredacted property tax information to calculate tax credits as part of a property tax relief program under a bill signed by Democratic Gov. Phil Murphy.

  • November 06, 2024

    MVP: Cadwalader's Holly Chamberlain

    Holly Chamberlain led teams from Cadwalader Wickersham & Taft LLP in advising major lenders on several significant deals this year, including the origination of three mortgage loans worth a combined $3.1 billion as part of Blackstone's $10 billion take-private transaction of multifamily owner AIR Communities, earning her a spot as one of the 2024 Law360 Real Estate MVPs.

  • November 06, 2024

    Calif. Voters Won't Rethink City Borrowing Tool For Housing

    California voters on Tuesday rejected Proposition 5, a ballot initiative that would have amended the state's constitution to make it easier for municipalities to borrow the money needed to fund affordable housing and infrastructure work.

  • November 05, 2024

    An Early Look At Trump's Supreme Court Shortlist

    With former President Donald Trump projected to win the 2024 presidential election and the Republicans' success in securing the U.S. Senate majority, Trump may now get the chance to appoint two more justices to the U.S. Supreme Court, cementing the court's conservative tilt for decades to come.

  • November 05, 2024

    GOP's Senate Win Hands Future Of The Judiciary To Trump

    Republicans were projected to take back the White House and Senate and possibly the House early Wednesday, putting the GOP in position to back Donald Trump's agenda and his slate of young, conservative judicial nominees. 

  • November 05, 2024

    Florida, Georgia, Others Peel Back Real Estate Taxes

    Voters in seven states approved a spate of real estate tax ballot initiatives on Election Day, including measures that would curb property taxes for veterans, residential property owners and residents of municipalities that fail to enforce nuisance laws. 

  • November 05, 2024

    California Voters Reject Cities' Rent Control Authority

    California voters on Tuesday rejected Proposition 33, a ballot initiative that would have expanded local governments' authority to enact rent control measures but that opponents argued would have made the state's housing crisis worse.

  • November 05, 2024

    Miami Condo Owners Sue Over 'Dangerous' Conditions

    A nonprofit representing a group of Miami luxury condominium residents sued the building's owners in Florida state court for allegedly neglecting the building's conditions for years, putting the building at risk of collapsing.

  • November 05, 2024

    Management Co. Says Insurer Can't Duck HOA Fire Coverage

    A property management company has taken an Auto-Owners Insurance unit to North Carolina federal court for allegedly trying to pull back defense and indemnity coverage it had already been providing in an underlying lawsuit brought by a homeowners' association over a 2021 fire, arguing that it's too late for the insurer to back out.

  • November 04, 2024

    NYC Council Adds Affordability Plan To Resi Zoning Debate

    The New York City Council unveiled the outline of a plan it says would ensure more affordable and livable housing, adding that the proposal augments Mayor Eric Adams' housing zoning reform plan.

  • November 04, 2024

    Shell Slips Negligence Claim In Pa. Nuisance Lawsuit

    Neighbors of Shell Chemical Appalachia's Western Pennsylvania ethylene cracker plant will need to be more specific about dust and pollution affecting their homes if they want to revive a negligence claim that a federal court struck from a proposed class action Monday.

  • November 04, 2024

    Colo. AG Underestimates Tenants, Rental Home Group Says

    A trade group has argued that Colorado's attorney general views tenants as "unsophisticated consumers" when he told the state Supreme Court that a group of tenants should be able to sue Blackstone subsidiaries over lease terms exchanging maintenance work for a rent discount.

  • November 04, 2024

    Calif. Sues Los Angeles Suburb Over Homeless Shelter Ban

    California on Monday sued the Los Angeles County city of Norwalk, arguing a law it enacted in August banning new shelters, single-room developments and other forms of supportive housing violates regulations meant to address the state's housing crisis.

  • November 04, 2024

    DC Makes Housing Tax Break Competitive Process Permanent

    The District of Columbia made permanent its temporary authorization of a competitive process for tax abatements for housing developments under legislation signed by the mayor, though the measure is subject to congressional review before it becomes law.

  • November 04, 2024

    NYC Real Estate Week In Review

    Sullivan & Cromwell and Meltzer Lippe are among the law firms that guided the largest real estate deals that hit New York City records last week, a slow period that saw only four transactions north of $15 million become public.

  • November 04, 2024

    GrayRobinson Adds Trio Of Attys To Tampa Office

    GrayRobinson PA announced Monday that it has boosted its local government, education and commercial litigation offerings with three hires for its Tampa office — two new shareholders and a senior associate.

  • November 04, 2024

    Mortgage Co. Accused Of 'Bad Faith' In Settlement With Atty

    A former staff attorney with a mortgage company has accused the business of "bad faith" for purportedly trying to renegotiate the terms of a settlement to resolve her Texas state lawsuit alleging she was fired after she witnessed inappropriate sexual behavior by a deputy general counsel.

  • November 04, 2024

    Haynes Boone Hires 3 More RE Attys From Holland & Knight

    Haynes and Boone LLP has hired a trio of attorneys from Holland & Knight LLP in Dallas and Northern Virginia, saying Monday that their additions will complement the firm's real estate and finance offerings.

  • November 04, 2024

    IRS Finalizes Seized Property Rules To Include Online Sales

    The Internal Revenue Service issued final rules Monday meant to modernize regulations governing the seizure of property by levy, including facilitating the online sale of a property and the agency's ability to maximize sale proceeds for the property owner's benefit.

  • November 01, 2024

    Property Plays: Energy Capital, Flatiron, CareTrust

    Property Plays is a weekly roundup of the latest loans, leases, sales and projects around the country. Send your tips — all confidential — to realestate@law360.com.

  • November 01, 2024

    CFPB Inks Deal With Townstone Over Redlining Claims

    The Consumer Financial Protection Bureau informed an Illinois federal court on Friday that it has reached a settlement with Townstone Financial resolving its redlining claims against the mortgage lender.

  • November 01, 2024

    Treasury Expands Foreign Land Transaction Authority

    The U.S. Department of the Treasury announced Friday that it has added 59 new military installations to the list of those over which it has jurisdiction to review any nearby real estate transactions involving foreign citizens.

  • November 01, 2024

    Gibson Dunn Works On Flatiron Building's Financing

    Real estate developer and owner The Brodsky Organization borrowed more than $406 million worth of mortgage loans from Tyko Capital for the Flatiron Building in Manhattan, New York, in a set of deals worked on by Gibson Dunn & Crutcher LLP, according to official property records released Friday.

Expert Analysis

  • AI Isn't The Wild West, So Prepare Now For Bias Risks

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    In addition to President Joe Biden's recent historic executive order on safe, secure and trustworthy artificial intelligence, there are existing federal and state laws prohibiting fraud, defamation and even discrimination, so companies considering using or developing AI should take steps to minimize legal and business risks, says civil rights attorney Farhana Khera.

  • AI's Baked-In Bias: What To Watch Out For

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    The federal AI executive order is a direct acknowledgment of the perils of inherent bias in artificial intelligence systems, and highlights the need for legal professionals to thoroughly vet AI systems, including data and sources, algorithms and AI training methods, and more, say Jonathan Hummel and Jonathan Talcott at Ballard Spahr.

  • Calif. Ruling May Open Bankruptcy Trustees To Tort Liability

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    In Martin v. Gladstone, a recent California appellate court decision, the application of tort concepts to bankruptcy trustees could pose a new concern for trustees and federal receivers when controlling and maintaining commercial property, says Jarrett Osborne-Revis at Buchalter.

  • 5th Circ. Ruling May Beget Fraud Jury Instruction Appeals

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    The Fifth Circuit’s recent U.S. v. Greenlaw decision, disapproving disjunctive fraudulent-intent jury instructions, will likely spawn appeals in mail, wire and securities fraud cases, but defendants must show that their deception furthered ends other than taking the victim's property, says Charles Fowler at McKool Smith.

  • Considerations For Navigating Mixed-Use Developments

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    As mixed-use developments continue to rise in popularity, developers considering this approach to urban planning must be aware of key considerations ranging from title and zoning laws to proper engagement with stakeholders, says Mehdi Sinaki at Michelman & Robinson.

  • 1st Tax Easement Convictions Will Likely Embolden DOJ, IRS

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    After recent convictions in the first criminal tax fraud trial over allegedly abusive syndicated conservation easements, the IRS and U.S. Department of Justice will likely pursue other promoters for similar alleged conspiracies — though one acquittal may help attorneys better evaluate their clients' exposure, say Bill Curtis and Lauren DeSantis-Then at Polsinelli.

  • How CRE Loans Would Shift Under New Bank Capital Rules

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    Attorneys at MoFo discuss how commercial real estate loans would fare under federal banking agencies' proposed changes to how large banks risk-weight loans, particularly how CRE loans are weighed based on the current standardized framework versus the proposed expanded approach.

  • Proactive Measures While NY Foreclosure Law Is In Limbo

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    While questions about the scope and constitutionality of New York's Foreclosure Abuse Prevention Act might not be resolved by courts for years, lenders, borrowers and other interested parties can take action to protect their rights and potentially expedite appellate review, say Allison Schoenthal and Andrew Kim at Goodwin.

  • EB-5 Investment Period Clarification Raises More Questions

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    U.S. Citizenship and Immigration Services' recent clarifying guidance for EB-5 investors, specifying that the statutory investment period begins two years from the date of investment, raises as many questions as it answers given related agency requirements and investors' potential contractual obligations, says Daniel Lundy at Klasko Immigration Law Partners.

  • How NY Residential Property Condition Disclosure Is Shifting

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    New York's recent significant amendments to the Property Condition Disclosure Act provide a new focus on the risk and damage from flooding, and the changes will affect the duties and standard of practice for real estate brokers, as well as liability and compliance for sellers and landlords, says Steven Ebert at Cassin & Cassin.

  • Conn. Banking Brief: The Notable Compliance Updates In Q3

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    The most notable legal changes affecting Connecticut financial institutions in the third quarter of 2023 included increased regulatory protections for consumers, an expansion of state financial assistance for underserved communities, and a panoply of tweaks to existing laws, says Brian Rich at Barclay Damon.

  • Mass. Banking Brief: The Notable Compliance Updates In Q3

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    Among the most significant developments in the financial services space in the third quarter of the year, the Massachusetts Supreme Judicial Court handed down a stunning endorsement of the state's fiduciary duty rule, and banking regulators continued their multiyear crackdown on unregistered entities, say attorneys at Mintz.

  • Insurance Rulings Continue Expansion Of Appraisal's Ambit

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    Two recent Illinois insurance cases allowing property damage appraisers to determine causation — Wysoczan v. Cambridge in federal court and Shelter v. Morrow in state appellate court — perpetuate a judicial trend that will result in a slower, more expensive and cumbersome appraisal process that resembles litigation, says Matthew Fortin at BatesCarey.