Residential
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August 08, 2024
Home Security Co. Can't Recreate $12.1M Contract, Court Told
The home security arm of building firm Toll Brothers on Thursday asked a Connecticut Superior Court judge to nix three counterclaims from a contract lawsuit accusing another home security company of botching a $12.1 million home monitoring account purchase, saying the company was impermissibly reading language into the contract at issue and pressing duplicate allegations.
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August 08, 2024
Wash. HOA Says Allstate Must Cover $8M Water Damage
A Washington state condominium association accused Allstate of wrongfully denying coverage of an $8 million water damage claim it filed after discovering hidden damage to the exterior of its buildings.
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August 08, 2024
Nixon Peabody Hires Community Development Counsel In DC
When Steven Feenstra, the newest member of Nixon Peabody LLP's the community development finance practice, visited a client's office some 25 years ago, the photos of the community housing projects the client had helped develop made a lasting impression on him, he told Law360 Pulse in an interview Thursday.
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August 08, 2024
McElroy Deutsch Seeks To Ax Former CFO's Ch. 11 Case
McElroy Deutsch Mulvaney & Carpenter LLP urged a New Jersey bankruptcy court Thursday to throw out a Chapter 11 filing from its former chief financial officer, who has been sent to prison for stealing over $1 million from the firm, slamming it as a bad faith "tactical maneuver" to stall ongoing civil litigation.
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August 08, 2024
Monroe, Triad Team Up In $300M Collab To Buy Rental Loans
Asset manager Monroe Capital LLC, advised by Schulte Roth & Zabel LLP, and Triad Financial Services Inc. on Thursday announced that they have formed a partnership with a roughly $300 million asset-based financing pool to originate and buy commercial community rental loans made to owners of manufactured housing communities.
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August 08, 2024
Former In-House Atty Says Mortgage Co. Was 'Oppressive'
A former staff attorney for mortgage company Newrez LLC alleges in a Texas state court lawsuit made public this week that she was terminated last year after witnessing a deputy general counsel engage in sexually inappropriate conduct with an intoxicated subordinate attorney at a work-related gathering.
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August 08, 2024
Community Insurance Can Plug NFIP Gaps, Expert Says
Community-based flood insurance can help cover insurance gaps and provide fast insurance relief to towns and cities at risk of flooding, UC Davis researcher and former Federal Emergency Management Agency engineer Kathleen Schaefer tells Law360.
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August 08, 2024
Ohio Board OKs Valuing Residence At Private Sale Price
An Ohio home was overassessed, the state's tax appeals board said, finding that the property's recent sale was an arm's-length transaction and should be considered when valuing it.
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August 07, 2024
Top Illinois Real Estate News In 2024 So Far
Catch up on the hottest real estate news out of Illinois so far this year, from brokerages' market forecasts and a casino deal to a $7 billion mixed-use project and a new stadium.
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August 07, 2024
Fintech Firm Says Plaintiff Is 'Forum Shopping' With NC Suit
Fintech company Figure Lending is urging a North Carolina federal judge to toss a proposed class action over its home equity lines of credit, saying the plaintiff who brought the case is forum shopping with insufficient claims that have been dismissed in other courts.
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August 07, 2024
Fed. Circ. Sides With Landlords Over COVID-19 Eviction Ban
The Federal Circuit ruled Wednesday that the Centers for Disease Control's COVID-19 eviction ban was a physical taking, teeing up a potential Supreme Court challenge.
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August 07, 2024
Biden Trampled Free Speech With Israeli Sanctions, Suit Says
A group of dual U.S.-Israeli citizens sued the Biden administration in Texas federal court Tuesday alleging that an executive order authorizing sanctions and visa restrictions for individuals said to undermine peace and stability in the West Bank violates their First Amendment rights.
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August 07, 2024
Fund Seeks Forced Sale Of Long-Stalled Baltimore Project
A Boston-based investment fund that backs development projects in disadvantaged communities is seeking to recoup $13 million it poured into a stalled mixed-use project in Baltimore, including through a forced sale, according to a complaint filed in Massachusetts state court.
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August 07, 2024
Nixon Peabody Real Estate Atty Returns To Boston Office
Nixon Peabody LLP rehired R. Lindsay Wilson II for a counsel position on its affordable housing and real estate team in Boston, the firm announced Wednesday.
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August 07, 2024
AARP, Trade Groups Provide Deed Fraud Prevention Tips
AARP and trade groups for the real estate, mortgage, notary, and property records industries posted a news brief containing tips to prevent deed fraud.
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August 07, 2024
Ahead Of Due Date, Land Use Attorneys Steer NY Casino Bids
Applicants for three up-for-grabs New York casino licenses are not expected to formally submit for consideration until next year, but real estate developers working on 11 proposals that have been announced are laying the groundwork, including by engaging law firms.
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August 07, 2024
Texas Last-Resort Insurer Approves 10% Rate Hike
Texas' windstorm insurer of last resort approved a 10% rate hike subject to state approval following expectations that Hurricane Beryl and other spring storm claims will significantly deplete the insurer's $451 million catastrophe reserve trust fund.
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August 07, 2024
NJ AG, Data Biz Say Judicial Privacy Law Is Constitutional
The New Jersey Office of Attorney General stepped in to defend the judicial privacy measure Daniel's Law this week, arguing alongside a data privacy company in federal court that a group of data brokers accused of violating it are relying on "hypotheticals and edge cases" to claim the law is unconstitutional.
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August 07, 2024
Mortgage Banker Says Experian Can't Tie Him To 'Sham' Suits
A New Jersey-based licensed mortgage banker is urging a California federal judge to let him escape Experian's suit alleging that he helped credit reporting law firms identify clients and created false evidence of a mortgage denial in a nationwide scheme to "extort" the credit reporting agency into settling "sham" lawsuits.
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August 07, 2024
CFPB Backs Homeowners In Nationstar Mortgage Fee Suit
The Consumer Financial Protection Bureau asked a Washington federal court to allow it to file a brief in support of a proposed class action accusing Nationstar Mortgage of illegally charging fees whenever homeowners request payoff statements for their loans.
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August 07, 2024
Miami Realtors CLO Preps Members For New Broker Rules
In a recent conversation with Law360 Real Estate Authority, Miami Assocation of Realtors Chief Legal Counsel Evian White De Leon discussed how the largest local Realtor group in the country is readying its members for the Aug. 17 enactment of new broker rules that the NAR agreed to in a $418 million legal settlement earlier this year.
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August 07, 2024
Rising Star: Troutman Pepper's Alana T. Sliwinski
Alana Sliwinski of Troutman Pepper Hamilton Sanders LLP has guided multiple high-profile and climate-focused public-private partnerships in her career, most recently playing a pivotal role in the $7 billion construction of Terminals 1, 2 and 3 at the John F. Kennedy International Airport, earning her a spot among the construction law practitioners under age 40 honored by Law360 as Rising Stars.
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August 07, 2024
Rising Star: Skadden's Anoush Sarkissian
Skadden Arps Slate Meagher & Flom LLP real estate counsel Anoush Sarkissian's work on major transactions such as advising alternative asset management company The RMR Group in an approximately $4 billion mortgage and mezzanine financing and its $80 million acquisition of multifamily real estate firm Carroll landed her a spot among the real estate attorneys under age 40 honored by Law360 as Rising Stars.
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August 07, 2024
Rising Star: Willkie's Melissa Fischetti
Melissa Fischetti of Willkie Farr & Gallagher LLP navigated SL Green's $1.76 billion acquisition of 245 Park Ave, New York, amid contentious bankruptcy proceedings brought without the preferred equity investor's approval, earning her a spot among the real estate practitioners under 40 honored by Law360 as Rising Stars.
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August 07, 2024
4 Firms Drive $1B Blackstone Residential Property Sale
Four firms guided Equity Residential's nearly $1 billion purchase of 11 properties from Blackstone Real Estate, a deal that added 3,572 new units within three metro markets to the real estate investment trust's portfolio, per a statement from the seller.
Expert Analysis
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SEC Should Be Allowed To Equip Investors With Climate Info
The U.S. Securities and Exchange Commission's new rule to require more climate-related disclosures will provide investors with much-needed clarity, despite opponents' attempts to challenge the rule with misused legal arguments, say Sarah Goetz at Democracy Forward and Cynthia Hanawalt at Columbia University’s Sabin Center for Climate Change.
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8 Fla. Statutes That Construction Cos. Should Prepare For
In this article, Jason Lambert at Hill Ward discusses a number of recent bills out of the Florida Legislature targeting construction companies in the Sunshine State that have been sent to the governor for signature, at least some of which will have broad impacts that affected companies should prepare for ahead of the July 1 effective date.
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Time To Fix NYC's Broken Property Assessment System
A New York appellate court's decision to revive Tax Equity Now New York v. City of New York may force the city to revamp its outdated and unfair real estate tax assessment system, which could be fixed with a couple of simple changes, says Seth Feldman at Romer Debbas.
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Understanding The IRC's Excessive Refund Claim Penalty
Taxpayers considering protective refund claims pending resolution of major questions in tax cases like Moore v. U.S., which is pending before the U.S. Supreme Court, should understand how doing so may also leave them vulnerable to an excessive refund claim penalty under Internal Revenue Code Section 6676, say attorneys at McDermott.
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Bankruptcy Ruling Shifts Lease Rejection Claim Calculation
A New York federal court’s recent ruling in In re: Cortlandt provides guidance on how to calculate a landlord's damages claim when a bankruptcy debtor rejects a lease, changing from an approach that considers the remaining rent due under the lease to one that considers the remaining time, say Bethany Simmons and Noah Weingarten at Loeb & Loeb.
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Do Not Overstate Fla. Condo Termination Ruling's Impact
A close look at the unique language at issue in Avila v. Biscayne, in which a Florida appellate court deemed a condo termination to be invalid, shows that the case is unlikely to significantly affect other potential terminations, say Barry Lapides and Edward Baker at Berger Singerman.
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Takeaways From FDIC's Spring Supervisory Highlights
The Federal Deposit Insurance Corp.'s spring 2024 consumer compliance supervisory report found that relatively few institutions had significant consumer compliance issues last year, but the common thread among those that did were inadequacies or failures in disclosures to consumers, says Matthew Hanaghan at Nutter.
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Walking With My Dog Makes Me A Better Lawyer
Thanks to my dog Birdie, I've learned that carving out an activity different from the practice of law — like daily outdoor walks that allow you to interact with new people — can contribute to professional success by boosting creativity and mental acuity, as well as expanding your social network, says Sarah Petrie at the Massachusetts Attorney General’s Office.
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What Calif. Eviction Ruling Means For Defaulting Borrowers
A California appellate court's recent decision in Homeward Opportunities v. Taptelis found that a defaulting borrower could not delay foreclosure with an improperly served notice of pendency of action, but leaves open a possibility for borrowers to delay eviction proceedings merely by filing lawsuits, say Anne Beehler and Krystal Anderson at Holland & Knight.
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How 3D Printing And Prefab Are Changing Construction
The growing popularity of trends like 3D printing technology and prefabrication in the construction industry have positive ramifications ranging from reducing risks at project sites to streamlining construction schedules, say Josephine Bahn and Jeffery Mullen at Cozen O'Connor.
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Wave Of Final Rules Reflects Race Against CRA Deadline
The flurry of final rules now leaping off the Federal Register press — some of which will affect entire industries and millions of Americans — shows President Joe Biden's determination to protect his regulatory legacy from reversal by the next Congress, given the impending statutory look-back period under the Congressional Review Act, say attorneys at Jenner & Block.
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A Deep Dive Into High Court's Permit Fee Ruling
David Robinson and Daniel Golub at Holland & Knight explore the U.S. Supreme Court's recent ruling that a local traffic impact fee charged to a California property owner may be a Fifth Amendment taking — and where it leaves localities and real estate developers.
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The Case For Overturning Florida Foreclosure Ruling
A Florida appellate court's recent decision in Desbrunes v. U.S. Bank National Association will potentially put foreclosure cases across the state in jeopardy, and unless it is reconsidered, foreclosing plaintiffs will need to choose between frustrating and uncertain options in the new legal landscape, say Sara Accardi and Paige Knight at Bradley.