Residential
-
October 15, 2024
Mich. Judge Unsure If PE Firm's Loan Broke Usury Law
The interest rate on a private equity firm's loan to a Detroit house-flipping venture exceeded usury limits, but it was unclear whether the lender knowingly charged an excessive rate, a Michigan state judge ruled after the case returned from a trip to the Michigan Supreme Court.
-
October 15, 2024
NYC Real Estate Week In Review
Gutman Weiss and Price Law Firm are among the firms that guided the largest New York City real estate deals that hit public records last week, with three of the week's five largest deals being Brooklyn matters.
-
October 15, 2024
Real Estate Fintech Fundraises $184M For 'Fix-And-Flip' Loans
Backflip funded its residential transition loans by raising $184 million worth of capital that will allow the real estate fintech company to "continue scaling its sought-after loan product offerings to members," the company said Tuesday.
-
October 15, 2024
Lit Funder-Backed Co. Says NJ Judicial Privacy Law Is Valid
A New Jersey judicial privacy law is not unconstitutional since it requires that defendants act negligently by knowingly violating the law, a data privacy company said in seeking to prevent the dismissal of dozens of lawsuits, which the company also acknowledged are being funded by third-party litigation funder Parabellum Capital LLC.
-
October 15, 2024
Blank Rome, Nixon Peabody Guide NYC Section 8 $96M Refi
Camber Property Group LLC secured a $96.2 million refinancing from Merchants Capital Corp, tied to four Brooklyn, New York, Section 8 multifamily properties, in a deal guided by Blank Rome LLP.
-
October 15, 2024
Law Firms Diverge As Anti-ESG Pushback Continues
A continuing onslaught of legislation and litigation opposing corporate environmental, social and governance actions has created a fork in the road for law firms, with some choosing to scale back efforts and others pushing ahead with their internal ESG and diversity, equity and inclusion goals.
-
October 15, 2024
The 2024 Law360 Pulse Social Impact Leaders
Check out our Social Impact Leaders ranking, analysis and interactive graphics to see which firms stand out for their engagement with social responsibility and commitment to pro bono service.
-
October 15, 2024
Justices Reject Homebuilder Case Over Minn. Fee Scale
The U.S. Supreme Court has refused to hear claims from a homebuilders' trade group that a court failed to consider whether "valuation-based" permit fees that scale higher for more expensive projects should match the support two Minneapolis suburbs provide.
-
October 11, 2024
Fla. Suit Over $79M Bezos Property Purchase Moves Forward
A Florida state court judge on Friday denied a motion to dismiss a lawsuit accusing a real estate broker of misrepresenting that Amazon founder Jeff Bezos wasn't the true purchaser of a $79 million property on Miami's exclusive Indian Creek Island, causing the seller to reduce the listing price by millions.
-
October 11, 2024
Wash. Tribal Panel Upholds Eviction Ruling Against Families
An appeals court for Washington state's Nooksack Indian Tribe has declined to reconsider a ruling that would evict a group of families claiming title under a federal homeownership program.
-
October 11, 2024
Property Plays: Tallest Towers, 701 Brickell, Nuveen
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.
-
October 11, 2024
Texas Affordable Housing Property To Include Health Services
Multifamily developer NRP Group said it has finalized the financing for a mixed-income, 67-unit project in Fort Worth, Texas, to provide affordable housing with an on-site health facility.
-
October 11, 2024
Julie Chrisley Appeals Ga. Judge's Resentencing Ruling
Former real estate mogul and reality television star Julie Chrisley, who was convicted of running a yearslong bank fraud scheme with her husband, Todd, is appealing a federal judge's decision to resentence her to the same seven-year prison term she first received nearly two years ago.
-
October 11, 2024
Indicted NJ Power Broker Says Civil Suit Belongs In Biz Court
Indicted Garden State power broker George E. Norcross III has asked a New Jersey state judge to transfer the civil racketeering suit brought against him and his attorney brother by a Philadelphia developer to the state's complex business litigation program.
-
October 11, 2024
More Ga. PFAS Suits Are Coming. Here's How Attys Prepare
Leading attorneys in PFAS litigation say new regulations and ever-increasing lawsuits require attorneys to think carefully about proactive measures clients can take to limit PFAS use, and about the latest scientific research into how the so-called forever chemicals impact humans and the environment.
-
October 11, 2024
Minn. Tax Court Cuts $100K From Lakefront Cabin Value
A Minnesota lakefront cabin property was overvalued by a county assessor, the state's tax court said, reducing the assessment by more than $100,000 and rejecting the county's comparable sales analysis.
-
October 10, 2024
Citadel Credit Union Reaches $6.5M Redlining Deal With DOJ
The U.S. Attorney for the Eastern District of Pennsylvania announced Thursday it reached a deal with Citadel Federal Credit Union to settle allegations it engaged in lending discrimination in Black and Latino neighborhoods, with the credit union agreeing to invest $6.5 million in neighborhoods of color in Philadelphia.
-
October 10, 2024
Homebuyers Tell 8th Circ. Broker Deal Gives Them Nothing
Homebuyers are urging the Eighth Circuit to undo the approval of $208.5 million in settlements struck by real estate brokerages in the sprawling litigation over industry rules covering broker fees, saying the deals only provide money for sellers.
-
October 10, 2024
3M, Other Cos. Hit With PFAS Contamination Class Action
Nantucket, Massachusetts, residents seek to hold the 3M Co., The Chemours Co. and other companies liable for perfluoroalkyl and polyfluoroalkyl substances that allegedly contaminated their properties, their drinking water and the residents themselves.
-
October 10, 2024
Too Early To Decide Indemnification In Flood Row, BNSF Says
Railway giant BNSF told a California federal court that it's too early for the court to decide whether two Travelers units have a duty to indemnify BNSF in a lawsuit alleging that a track relocation project BNSF undertook caused significant flooding, noting the case is still pending.
-
October 10, 2024
Housing Nonprofit Hits NY Town With Disability Bias Suit
A housing nonprofit has claimed in New York federal court that local officials stopped the construction of an affordable housing project in the Hamptons because a lot of the units would go to people with mental health disabilities and military veterans, who would receive supportive services.
-
October 10, 2024
Freddie Mac, Axis Ink Deal Over $32M SEC Probe Coverage
Government-backed mortgage buyer Freddie Mac told a D.C. federal court it reached a settlement with an excess insurer over its $32 million defense bill from a U.S. Securities and Exchange Commission investigation and lawsuits concerning its exposure to subprime mortgages in the lead-up to the 2008 financial crisis.
-
October 10, 2024
NYC Landlord Fights Gibson Dunn Legal Fees Bill
New York City multifamily landlord Pinnacle Group NY LLC and CEO Joel Wiener told a New York state court that Gibson Dunn & Crutcher LLP can't force them to arbitrate a dispute over a $1.74 million outstanding bill for legal fees.
-
October 10, 2024
Atty For McElroy Deutsch's Ex-CFO Wants Out Of Theft Case
An attorney representing McElroy Deutsch Mulvaney & Carpenter LLP's former chief financial officer — who is behind bars on charges of stealing from the firm — has asked to be relieved as counsel in the firm's New Jersey suit against the former CFO because he has not paid his legal bills.
-
October 10, 2024
Investor Connected To Texas AG Seeks To Ax Fraud Case
Nate Paul, a real estate investor at the heart of the failed impeachment of Texas Attorney General Ken Paxton, has moved to dismiss federal wire fraud and conspiracy charges against him, arguing that the indictment does not claim that he acted willfully when allegedly ripping off lenders and investors.
Expert Analysis
-
Ohio Tax Talk: The Legislative Push For Property Tax Relief
As Ohio legislators attempt to alleviate the increasing property tax burden, four recent bills that could significantly affect homeowners propose to eliminate replacement property tax levies, freeze property taxes for longtime homeowners, adjust homestead exemptions annually for inflation, and temporarily expand the homestead exemption, say Raghav Agnihotri and Rachael Chamberlain at Frost Brown.
-
In The CFPB Playbook: Regulatory Aims Get High Court Assist
Newly emboldened after the U.S. Supreme Court last month found that the Consumer Financial Protection Bureau's funding is constitutional, the bureau has likely experienced a psychic boost, allowing its already robust enforcement agenda to continue expanding, say attorneys at Husch Blackwell.
-
What's New In Kentucky's Financial Services Overhaul
Kentucky's H.B. 726 will go into effect in July and brings with it some significant restructuring to the Kentucky Financial Services Code, including changes to mortgage loan license fees and repeals of provisions relating to installment term loans and savings associations, say attorneys at Frost Brown.
-
A Comparison Of FDIC, OCC Proposed Merger Approaches
Max Bonici and Connor Webb at Venable take a closer look at the Federal Deposit Insurance Corp.'s and Office of the Comptroller of the Currency's respective bank merger proposals and highlight certain common themes and important differences, in light of regulators continually rethinking their approaches to bank mergers.
-
Tax Assessment: Recapping Georgia's Legislative Session
Jonathan Feldman and Alla Raykin at Eversheds Sutherland examine tax-related changes from Georgia’s General Assembly — such as the governor’s successful push to accelerate income tax cuts — and suggest steps to take before certain tax incentives are challenged in the state's next legislative session.
-
11th Circ. Ruling May Foreshadow Ch. 15 Clashes
The Eleventh Circuit's recent decision in In re: Talal Qais Abdulmunem Al Zawawi has introduced a split from the Second Circuit regarding whether debtors in foreign proceedings must have a domicile, calling attention to the understudied nature of Chapter 15 of the Bankruptcy Code, say attorneys at Cleary.
-
Teaching Yoga Makes Me A Better Lawyer
Being a yoga instructor has helped me develop my confidence and authenticity, as well as stress management and people skills — all of which have crossed over into my career as an attorney, says Laura Gongaware at Clyde & Co.
-
A Look At New IRS Rules For Domestically Controlled REITs
The Internal Revenue Services' finalized Treasury Regulations addressing whether real estate investment trusts qualify as domestically controlled adopt the basic structure of previous proposals, but certain new and modified rules may mitigate the regulations' impact, say attorneys at Simpson Thacher.
-
What CRA Deadline Means For Biden Admin. Rulemaking
With the 2024 election rapidly approaching, the Biden administration must race to finalize proposed agency actions within the next few weeks, or be exposed to the chance that the following Congress will overturn the rules under the Congressional Review Act, say attorneys at Covington.
-
How New Rule Would Change CFIUS Enforcement Powers
Before the May 15 comment deadline, companies may want to weigh in on proposed regulatory changes to enforcement and mitigation tools at the disposal of the Committee on Foreign Investment in the United States, including broadened subpoena powers, difficult new mitigation timelines and higher maximum penalties, say attorneys at Venable.
-
2nd Circ. Eminent Domain Ruling Empowers Municipalities
The Second Circuit's recent decision in Brinkmann v. Town of Southold, finding that a pretextual taking does not violate the Fifth Amendment's takings clause, gives municipalities a powerful tool with which to block unwanted development projects, even in bad faith, say James O'Connor and Benjamin Sugarman at Phillips Lytle.
-
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.
-
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.