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|Maryland's Lead Risk Reduction in Housing Act|
Ruth O. Katz; Lerch Early Brewer Chartered;
February 18, 2015, previously published on December 16, 2014Effective January 1, 2015, all residential rental properties constructed prior to 1978 must comply with the Maryland Lead Risk Reduction in Housing Act by paying a fee and registering with the Department of the Environment, having the rental property tested for the presence of lead prior to changes...
|Documentary Stamp Taxes: Enforcing a Promissory Note and Mortgage Prior to Payment|
Karl R. Gruss, Edward Lee Kelly; Rogers Towers, P.A.;
February 18, 2015, previously published on January 13, 2015While failure to pay Florida’s documentary stamp taxes on a promissory note or mortgage can subject the offender to criminal and financial sanctions, the state’s courts of appeal are split when it comes to determining whether Florida law permits enforcement of a note or mortgage when...
|Failure to Record a Satisfaction of Mortgage Can Become Costly in the State of Ohio|
Benjamin Hoen; Weltman, Weinberg & Reis Co., L.P.A.;
February 18, 2015, previously published on January 02, 2015 An Act has been introduced by the Ohio legislature, known as H.B. 201, which will make it very costly for a mortgagee, or any successor or assignee of the original mortgagee, who receives a payoff from the homeowner, and fails to timely record a satisfaction of mortgage. The Act has passed both the...
|Can You Lien Yourself? Sometimes the Answer is, Yes!|
Michael R. Bosse; Bernstein Shur;
February 18, 2015, previously published on December 23, 2014In Peabody-Waterside Development, LLC v. Island of Waterside, LLC, an Illinois Appellate Court concluded that a member of an LLC could rightfully lien its own LLC to collect amounts for grading and site development work. While the concept of liening your own entity may seem strange, in the right...
|Overview of HUD’s 2013 Guidance on Assistance Animals as Reasonable Accommodations under the Federal Fair Housing Statutes, and Post-guidance Developments|
Yoora Pak, Angela M. Sekerka; Wilson Elser Moskowitz Edelman & Dicker LLP;
February 18, 2015, previously published on December 18, 2014The Fair Housing Amendments Act (FHAA) makes it unlawful to discriminate against disabled individuals in the sale or rental, or to otherwise make unavailable or deny, a dwelling to any buyer or renter because of disability. 42 U.S.C.S. § 3604(f)(1). The FHAA’s definition of unlawful...
|Massachusetts Court Rejects Economic Loss Rule in Development Claim|
Sally Fitch LLP;
February 18, 2015Condominium associations scored a legal win late last year with a decision rendered by the Massachusetts Appeals Court in Wyman v. Ayer Properties, LLC, 83 Mass. App. Ct. 21 (2012). In the case, the court barred use of the economic loss rule thus ruling in favor of the association for losses...
|New Jersey Extends Permit Extension Act Another Year|
Duane Morris LLP;
February 17, 2015, previously published on January 7, 2015New Jersey Governor Chris Christie re-extended New Jersey's Permit Extension Act, N.J.S.A. 40:55D-136.1 et seq., for a third time by enacting Assembly Bill 3815. This legislation extends the tolling of the approval period for certain real estate development permits until December 31, 2015, as long...
|Real Estate Tip: Should Developers Select Selective Enforcement?|
February 17, 2015, previously published on December 11, 2014Let’s say you and 20 other drivers are exceeding the speed limit and the police give you, but no one else, a speeding ticket. Analyzing your fate requires using a legal concept called “selective enforcement.” This principle both prevents you from avoiding a fine because...
|Real Estate Tip: Buyers’ Blues|
February 17, 2015, previously published on February 5, 2015Buyer beware is an old warning. A recent title insurance case reminds us just how wary a buyer must be, even in 2015. In the case of IQ Holdings, Inc. v. Stewart Title Guaranty Co., 2014 WL 6601148, the buyer thought it could rely either on an escrow agent’s responsibilities, on the title...
|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...