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|Surveying the Changes|
Ahmad S. El-Gendi, Joaquin E. Martinez; Lowndes, Drosdick, Doster, Kantor & Reed Professional Association;
March 8, 2016, previously published on February 23, 2016Effective today, the American Land Title Association (ALTA) and the National Society of Professional Surveyors (NSPS) announced changes to the Minimum Standard Detail Requirements for ALTA/NSPS Land Title Surveys (the “Minimum Standards”).
|In the ‘Shadow Wood’ of SFR: Nevada Supreme Court Weighs in on Lender HOA Challenges|
Jacob D. Bundick, Sean A. Gordon, Jennifer L. Gray; Greenberg Traurig, LLP;
March 7, 2016, previously published on February 23, 2016In a September 2014 ruling, the Nevada Supreme Court jolted the lending community by holding that a homeowners association’s (HOA) non-judicial foreclosure sale can extinguish a mortgage lender’s previously-recorded first deed of trust on a property if that foreclosure is to recover...
|Solving One of the Greatest Mysteries of Florida Property Law—Florida’s Valued Policy Law|
Michael A. Packer; Marshall Dennehey Warner Coleman & Goggin, P.C.;
March 7, 2016, previously published on March 1, 2016Florida Statute 627.702 is one of the least known and least understood property damage laws in Florida. Yet, it is the statute that can impose the greatest liability on an insurer, especially in times of catastrophic events or when a fire destroys or damages an insured structure. Claims...
|Endangered Bat Poses New Challenges for Property Owners and Developers|
Theodore J. Esborn; McDonald Hopkins LLC;
March 2, 2016, previously published on February 17, 2016Property owners, developers, and project proponents need to be aware of a new endangered species. On February 16, 2016, a new rule passed under the Federal Endangered Species Act, took effect listing the northern long-eared bat as “endangered.” The ruling comes as the result of drastic...
|Buying and Selling Commercial Real Estate: The Auction Option|
Patrick A. Karbowski; McDonald Hopkins LLC;
March 2, 2016, previously published on February 12, 2016With apologies to Shakespeare’s Prince Hamlet, to bid or not to bid is only the last of many important questions to be answered by those considering buying or selling commercial real estate through an auction. Real estate auctions are as old as, well, Shakespeare, and up until recently had...
|Privatizing Montgomery County's Economic Development Efforts|
Robert G. Brewer; Lerch, Early & Brewer, Chartered;
February 29, 2016, previously published on February 1, 2016Montgomery County is in the process of privatizing its economic development efforts by dismantling its Department of Economic Development (DED) and transferring most of its functions to a new private entity, Montgomery County Economic Development Corporation (MCEDC).
|U.S. District Court Reverses Bankruptcy Court in Important Victory for Condominium Associations|
Steven G. Mlenak; Greenbaum, Rowe, Smith & Davis LLP;
February 25, 2016, previously published on February 2016On February 16, 2016, the U.S. District Court for the District of New Jersey handed down an important victory for condominium associations in the matter of Whispering Woods Condo. Ass'n v. Rones (In re Rones).
|Open-ended real estate funds in liquidation: Damages still possible|
Michael Rainer; GRP Rainer LLP;
February 23, 2016, previously published on February 19, 2016Investors in open-ended real estate funds which have since gone into liquidation can still assert claims for damages. Their prospects have improved thanks to the jurisprudence of the Bundesgerichtshof (German Federal Court of Justice).
|Changes to the Condominium Act|
Joshua D. Sprague; Perley-Robertson, Hill & McDougall LLP/s.r.l.;
February 16, 2016, previously published on February 1, 2016Bill 106 (the Protecting Condominium Owners Act, 2015) received Royal Assent in the Ontario legislature on December 3, 2015. Bill 106 is the result of an 18-month public engagement process, the Condominium Act Review (the “Review”), which involved condominium owners, developers,...
|High Bidders at Tax Sales Must Pay the Bid Surpluses to the Property Owners|
Edward J. Levin; Gordon Feinblatt LLC;
February 15, 2016, previously published on January 2016Kona Properties, Inc. v. W.D.B. Corp., Inc., 224 Md. App. 517 (2015), involved three consolidated cases with similar facts. In each, properties in Baltimore City were sold at tax sales and the Circuit Court for Baltimore City issued an order in each case foreclosing the right of redemption. The...