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HTMLAnother Reason a Residential Landlord May Not Want to Ask for a Security Deposit
James S. Singer; Rudolph Friedmann LLP;
Legal Alert/Article
August 25, 2016, previously published on August 10, 2016
Some seasoned landlord/tenant practitioners and even judges advise residential landlords to forego requesting security deposits from their tenants. Massachusetts law allows a landlord to require a tenant to pay at or prior to the commencement of a tenancy the first month’s rent, last...

 

HTMLGeneral Assembly Broadens and Clarifies Exemptions to Statute That Taxes Transfers of Controlling Interests
Edward J. Levin, Y. Jeffrey Spatz; Gordon Feinblatt LLC;
Legal Alert/Article
August 19, 2016, previously published on April 2016
The Maryland General Assembly recently passed Senate Bill 597 and House Bill 1226, entitled Recordation and Transfer Taxes - Transfer of Controlling Interest - Exemption, which when signed by the Governor will revise the exemptions applicable to the taxation of transfers of controlling interests in...

 

HTMLAmount of Attorneys' Fees Awarded Is Not Limited to Size of Judgment
Edward J. Levin, Margaret M. Witherup; Gordon Feinblatt LLC;
Legal Alert/Article
August 19, 2016, previously published on May 2016
As a step in the development of a high-rise apartment building in Bethesda, Bainbridge St. Elmo Bethesda Apartments, LLC obtained an easement and agreement from its neighbor White Flint Express Realty Group Limited Partnership, LLLP. Bethesda violated provisions of the agreement relating to the...

 

HTMLLease Termination May Be Avoided in Bankruptcy
Lawrence D. Coppel; Gordon Feinblatt LLC;
Legal Alert/Article
August 19, 2016, previously published on April 2016
When a commercial tenant is failing, the tenant and its landlord may enter into a lease termination agreement relieving the tenant from all or some of its obligations, and permitting the landlord to lease the space to a more viable tenant. Although the landlord may assume that the termination...

 

HTMLHomestead Tax Credit Applies When Home Is Razed and Rebuilt, but Assessment Increases
Edward J. Levin; Gordon Feinblatt LLC;
Legal Alert/Article
August 16, 2016, previously published on April 2016
In State Department of Assessments and Taxation v. Andrecs, 444 Md. 585 (2015), the Court of Appeals held that a homeowner who razes his home and rebuilds it is entitled to maintain the homestead tax credit he had before knocking down his house, but the value of improvements he made to the property...

 

HTMLValue of a Federal Subsidized Lease Includes Considering the Tenant's Life Expectancy
Edward J. Levin; Gordon Feinblatt LLC;
Legal Alert/Article
August 16, 2016, previously published on April 2016
In Kirk v. Hilltop Apartments, LP, 225 Md. App. 34 (2015), the Court of Special Appeals held that federal subsidized leases containing automatic renewal provisions are of indefinite length, and therefore to calculate the value of the lease the monthly rent is to be multiplied by the tenant’s...

 

HTMLFinCEN Tightens the Screws on Money Launderers with Additional Scrutiny of High-Value Residential Real Estate Transactions
Jodi L. Avergun, Nicholas E. Brandfon, Steven M. Herman, Colleen D. Kukowski; Cadwalader, Wickersham & Taft LLP;
Legal Alert/Article
August 10, 2016, previously published on August 1, 2016
Choice real estate markets such as New York, Miami, Los Angeles, San Francisco, San Diego, and San Antonio may offer enticing amenities like buzzing nightlife or sunny beaches, but thanks to the Financial Crimes Enforcement Network (“FinCEN”), they now also come with an extra dose of...

 

HTMLSupreme Court Allows Landowners To Challenge Wetlands Determinations
Margaret M. Witherup; Gordon Feinblatt LLC;
Legal Alert/Article
August 5, 2016, previously published on June 10, 2016
The U.S. Supreme Court gave private property owners a victory last week in holding that a landowner can challenge an Army Corps of Engineers determination that its peat mining operation contained a wetland protected by the Clean Water Act. In the case of U.S. Army Corps of Engineers v. Hawkes Co.,...

 

HTMLDeveloper Control of Homeowner Associations Could Diminish in South Carolina
John P. Carroll; Nexsen Pruet, LLC;
Legal Alert/Article
August 5, 2016, previously published on April 28, 2016
The South Carolina 2015-2016 Appropriation Act established the "South Carolina Committee on Homeowners Associations." Thirteen individuals, consisting of lawmakers, developers, homeowner association managers and property owners were appointed to debate various issues affecting the level...

 

HTMLU.S. Treasury Department Expands its 'Real Estate GTOs' to Require Title Insurance Companies and Their Agents To Report the Ultimate Beneficial Owners of Entities Used To Buy Residential Real Estate in All-Cash Purchases in Six Metropolitan Areas
Shannon L. Bothwell, Jared E. Dwyer, Carl A. Fornaris, Robert J. Ivanhoe, Gary A. Saul; Greenberg Traurig, LLP;
Legal Alert/Article
August 5, 2016, previously published on July 29, 2016
On July 27, 2016, the Financial Crimes Enforcement Network of the U.S. Department of the Treasury (FinCEN) issued a press release announcing new Geographic Targeting Orders (GTOs) applicable to certain U.S. title insurance companies and their subsidiaries and “agents” (collectively, the...

 


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