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|Real Estate Tip: Foreclosure Confusion|
February 17, 2015, previously published on January 8, 2015The financial crisis has taught us a great deal about the mortgage transfer business, secondary markets and loan securitization. In the Spring 2014 issue of the Real Property, Trust & Estate Law Journal, Prof. Dale A. Whitman chronicles all we have learned since 2007. The executive summary...
|Property Owners Duty Of ----?|
Edward E. (Ned) Nicholas; Vandeventer Black LLP;
February 9, 2015, previously published on January 2015Everyone has a duty to exercise care in the use and management of his property. That duty is owed to people who come onto the property. So if you stack lumber outside your building, you should take care to prevent the stack collapsing and injuring an employee or visitor.
|How do I 'Take Title' When Acquiring Real Estate?|
David L. Allen; Jaburg Wilk;
February 6, 2015While it is true that you most often cannot tell much about a book by its title, the same does not hold true when it comes to real estate, as how title is held to real estate, does tell you a lot. The question faced by a person acquiring real estate in Arizona concerning how they wish to take title...
|NY Sales Tax Hits Passive Investors in Limited Partnerships and Limited Liability Companies|
Eric Homsi, Mark A. Limardo; Olshan Frome Wolosky LLP;
February 6, 2015, previously published on January 12, 2015Next time you think about investing some “play” money in your friend’s trendy new restaurant, make sure you know what you’re getting into. If you’re not careful, you could find yourself on the hook for much more than you bargained for.
|D.C. Deed of Trust May Be Extinguished on Foreclosure Sale for Failure to Pay Condominium Assessments|
Edward J. Levin; Gordon Feinblatt LLC;
February 6, 2015, previously published on November 2014On August 28, 2014, the District of Columbia Court of Appeals held in Chase Plaza Condominium Association, Inc. and Darcy, LLC v. JPMorgan Chase Bank, 98 A.3d 166 (D.C. 2014), that a first deed of trust on a condominium unit may be extinguished by a foreclosure sale that is held to satisfy six...
|The Maryland - Virginia Boundary Shifts and Changes|
Edward J. Levin; Gordon Feinblatt LLC;
February 6, 2015, previously published on November 2014The Court of Special Appeals in Potomac Shores, Inc. v. River Riders, Inc., 219 Md. App. 29, 98 A.3d 1048 (2014), recently held that the boundary line between Maryland and Virginia, west of the District of Columbia, although fixed theoretically, actually shifts over time along with erosion and...
|Changes to Pennsylvania’s Power of Attorney will Affect Real Estate and Other Transactions|
John F. Lushis; Norris McLaughlin & Marcus, P.A. A Professional Corporation;
February 6, 2015, previously published on January 2015On July 2, 2014, the Pennsylvania General Assembly enacted Act 95 to address certain issues relating to Pennsylvania’s Power of Attorney Act that arose out of a 2010 Pennsylvania Supreme Court decision. Because there are certain provisions in Act 95 that will become effective on January 1,...
|District Court Strikes Down Regulation of Purely Intrastate Species on Private Land|
Alexander L. Merritt; Sheppard, Mullin, Richter & Hampton LLP;
February 6, 2015, previously published on November 11, 2014In a significant Endangered Species Act case, the Utah District Court has ruled that Congress may not regulate take of the threatened Utah prairie dog, a purely intrastate species, on non-federal land. The court found that the challenged regulation went beyond the scope of the Commerce Clause...
|Changes to Mortgage Servicing Rules|
Brooks Bossong; Nexsen Pruet, LLC;
January 30, 2015, previously published on November 20, 2014Armed with some background on what the Consumer Financial Protection Bureau (“CFPB”) is and does (from my 11-11-14 blog entry), let’s dive directly into the issue of rules. For starters, let’s look into the CFPB’s new rules relating to servicing mortgages.
|Alberta's New Home Buyer Protection Act Increases Obligations on Homebuilders|
Pamela S. Lindsay; McLennan Ross LLP;
January 29, 2015, previously published on February 10, 2014On February 1, 2014, the New Home Buyer Protection Act, SA 2012, c. N-3.2. (the “Act”), came into force. Pursuant to the Act, every new home built in Alberta is now required to be covered under a new home warranty insurance contract (the “Warranty”); the province has stated...