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HTMLCan You Lien Yourself? Sometimes the Answer is, Yes!
Michael R. Bosse; Bernstein Shur;
Legal Alert/Article
February 18, 2015, previously published on December 23, 2014
In 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...

 

HTMLMaryland's Lead Risk Reduction in Housing Act
Ruth O. Katz; Lerch Early Brewer Chartered;
Legal Alert/Article
February 18, 2015, previously published on December 16, 2014
Effective 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...

 

HTMLMassachusetts Court Rejects Economic Loss Rule in Development Claim
Sally Fitch LLP;
Legal Alert/Article
February 18, 2015
Condominium 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...

 

HTMLNew Jersey Extends Permit Extension Act Another Year
Duane Morris LLP;
Legal Alert/Article
February 17, 2015, previously published on January 7, 2015
New 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...

 

HTMLReal Estate Tip: Foreclosure Confusion
Bernstein Shur;
Legal Alert/Article
February 17, 2015, previously published on January 8, 2015
The 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...

 

HTMLReal Estate Tip: Should Developers Select Selective Enforcement?
Bernstein Shur;
Legal Alert/Article
February 17, 2015, previously published on December 11, 2014
Let’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...

 

HTMLReal Estate Tip: Buyers’ Blues
Bernstein Shur;
Legal Alert/Article
February 17, 2015, previously published on February 5, 2015
Buyer 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...

 

HTMLProperty Owners Duty Of ----?
Edward E. (Ned) Nicholas; Vandeventer Black LLP;
Legal Alert/Article
February 9, 2015, previously published on January 2015
Everyone 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.

 

HTMLD.C. Deed of Trust May Be Extinguished on Foreclosure Sale for Failure to Pay Condominium Assessments
Edward J. Levin; Gordon Feinblatt LLC;
Legal Alert/Article
February 6, 2015, previously published on November 2014
On 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...

 

HTMLNY Sales Tax Hits Passive Investors in Limited Partnerships and Limited Liability Companies
Eric Homsi, Mark A. Limardo; Olshan Frome Wolosky LLP;
Legal Alert/Article
February 6, 2015, previously published on January 12, 2015
Next 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.

 


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