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|Foreclosure of Condominium Lien Extinguishes First Deed of Trust|
R. Alex DuFour, Steven L. Dube, William M. Hoffman, William W. Riggins, David L. Weintraub; Linowes and Blocher LLP;
October 2, 2014, previously published on September 19, 2014Lenders beware: A first deed of trust secured by a condo unit in Washington, D.C. might not be safe. In the case of Chase Plaza Condominium Association, Inc. and Darcy, LLC v. JPMorgan Chase Bank, N.A., decided on August 28, 2014, the D.C. Court of Appeals held that a condo association's...
|A Welcome Change of Law in NC: A Workable Framework for Transferring Declarant Rights in a Foreclosure or Deed in Lieu|
Timothy R. Moore; Spilman Thomas & Battle, PLLC;
September 30, 2014, previously published on September 25, 2014Good news! The murkiness surrounding declarant rights in North Carolina became a little clearer this summer. On July 7, 2014, Governor McCrory signed an amendment to the Planned Community Act addressing the transfer of declarant rights. This article only addresses lender’s rights or liability...
|Supreme Court Of New Jersey Holds That Cardiovascular Death Is Not Compensable.|
Angela Y. DeMary; Marshall Dennehey Warner Coleman & Goggin, P.C.;
September 29, 2014, previously published on October 1, 2014The New Jersey Supreme Court reiterated that there remains a heightened standard of proof and causation for cardiovascular claims. The Supreme Court opined in Rennerr/i> that the decedent husband/petitioner failed to sustain his burden of proving a compensable cardiovascular death.
|Homeowners “Bluffed” Out Of Challenge To Coastal Permit To Rebuild Private Access Stairs|
Joshua Weiss; Sheppard, Mullin, Richter & Hampton LLP;
September 25, 2014, previously published on September 18, 2014The Court of Appeals for the Fourth Appellate District (Division One) has held that homeowners who accepted the benefit of a coastal development permit (“CDP”) for seawall reconstruction to protect their bluff-top homes cannot subsequently challenge the terms upon which the CDP was...
|Level of Detail Adequate in High Speed Rail Authority’s Program EIR for Central Valley to Bay Area Rail Corridor|
Jennifer Gunsch; Sheppard Mullin Richter Hampton LLP;
September 25, 2014, previously published on September 18, 2014The appellate court upheld the California High-Speed Rail Authority’s Program EIR for the Central Valley to Bay Area portion of the route, concluding that (1) the Authority properly limited its environmental analysis to a program level when it deferred site-specific analysis of the vertical...
|Mechanics Lien Subordination: Illinois Further Limits Construction Lenders’ Ability To Ensure Priority Against Mechanics Liens|
Michael J. Roth; Sheppard, Mullin, Richter & Hampton LLP;
September 25, 2014, previously published on September 18, 2014On July 16, 2014, Illinois enacted Public Act 98-764 (Senate Bill 3023) (“SB 3023”), which amends the Illinois Mechanics Lien Act (770 ILCS 60/ et seq.) (the “Act”) to prohibit subordination of mechanics liens on Illinois construction projects, unless such subordination is...
|Real Estate Agents: Think Twice Before Referring a Client to a Service Provider|
Shulman Rogers Gandal Pordy Ecker P.A.;
September 24, 2014, previously published on September 23, 2014The Real Estate Commission has adopted a new requirement in its Code of Ethics that will make the prudent agent wary of freely providing referrals to clients. Under the new rule, personal experience with a service provider will no longer serve as adequate vetting of a service provider if the agent...
|AB 1103 Update: Postponement of Certain Nonresidential Building Energy Use Disclosure Requirements|
Brandon E. Barker, Dawn Saunders, Gabriel Schnitzler; Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C.;
September 24, 2014, previously published on September 11, 2014Under California Assembly Bill 1103 (“AB 1103”, codified as California Public Resources Code Section 25402.10), owners and operators of nonresidential buildings must disclose certain building energy performance data to a prospective buyer, a tenant of the entire building, or a lender...
|Now Is The Time To Consider Property Valuation Reassessments|
D. Kristoffer Brandenburg, Patrick J. Newton; Strauss Troy Co., L.P.A.;
September 23, 2014, previously published on September 15, 2014As 2014 comes to a close, now is the time to start considering next year’s property tax bills. This year represents a significant period as the valuation reappraisal period is in process for three Southwest Ohio counties. Butler and Clermont County are currently in the midst of completing...
|North Carolina Supreme Court Upholds Enforceability of Waiver of ECOA Claim|
Jessica K. Burr; Spilman Thomas Battle PLLC;
September 23, 2014, previously published on September 18, 2014Last month, the North Carolina Supreme Court issued an important opinion for lenders in this state. The opinion reversed the North Carolina Court of Appeals’ decision in RL REGI N.C., LLC v. Lighthouse Cove, LLC, which found that a waiver of claims contained in a forbearance agreement could...