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HTMLREAL ESTATE TIP - Confusing Precision with Accuracy
Richard W. Smith; Bernstein Shur;
Legal Alert/Article
November 5, 2014, previously published on October 23, 2014
In a recent EPA case, Natural Resources Defense Council, v. United States Environmental Protection Agency, a federal circuit court found against the agency’s decision to allow a product’s registration because of a rounding error in numbers with five decimal place precision. Though the...


HTMLChanges to the Act on the National Court Register
BSJP Brockhuis Jurczak Prusak Sp.k.;
Legal Alert/Article
November 5, 2014
The Act of 26th June 2014 amending the act on the National Court Register and amending certain other acts (Journal of Laws of 2014 item 1161) will enter into effect on 1st December 2014. The amendment is aimed at simplifying the procedures relating to both commencement and conduct of economic...


HTMLMortgage Currency
BSJP Brockhuis Jurczak Prusak Sp.k.;
Legal Alert/Article
November 5, 2014
It happens in banking practice that a loan is granted in a foreign currency, whereas it follows from the contents of the loan agreement concluded by the parties that both payment of the loan to the borrower and then subsequently its repayment to the lender (bank) are to be effected in the Polish...


HTMLRisk Retention for Commercial Mortgage-Backed Securities: Fact Sheet
David Burkholder, Michael S. Gambro, Anna H. Glick, Stuart N. Goldstein, Robert Kim; Cadwalader, Wickersham & Taft LLP;
Legal Alert/Article
November 3, 2014, previously published on October 29, 2014
On October 22, 2014, the federal regulatory agencies responsible for implementing regulations under Dodd-Frank finalized the risk retention rules for ABS transactions, including CMBS transactions. The final rules come more than three years after risk retention rules were originally proposed, and...


HTMLFourteen Years Later And Still No Third Round Regulations
Donna A. McBarron; Giordano, Halleran & Ciesla A Professional Corporation;
Legal Alert/Article
November 3, 2014, previously published on October 23, 2014
On October 20, 2014, the Council on Affordable Housing (“COAH”) convened ostensibly to adopt its third set of Third Round Regulations in order to meet the October 22, 2014 deadline imposed by the New Jersey Supreme Court on March 14, 2014. After a 14-year delay in adopting valid Third...


HTMLDoes the Bankruptcy Court have the Authority to Surcharge Exemptions?
Keri Ebeck; Weltman, Weinberg & Reis Co., L.P.A.;
Legal Alert/Article
November 3, 2014, previously published on October 28, 2014
Law v. Siegel: The facts of the case are that Mr. Law (Debtor) filed for Chapter 7 bankruptcy protection. He valued his home in California at $363,348 and claimed a $75,000 homestead exemption, as well as listed two mortgage liens on the property in question: (1) to Washington Mutual Bank for...


HTMLForeign Investment in Indonesian Real Estate
Denny Rahmansyah, Dyah Soewito; SSEK;
Legal Alert/Article
November 2, 2014
Indonesia’s Agrarian Law provides that foreigners can only acquire right to use (hak pakai) title for land if they reside in Indonesia. If foreign investors wish to engage in business in Indonesia, they must establish a foreign capital investment (PMA) company.


HTMLAuthorized Louisiana Homeowners Insurers Must File Annual Loss, Policy Data By May 1, 2015
Colodny Fass Talenfeld Karlinsky Abate Webb P.A.;
Legal Alert/Article
October 30, 2014, previously published on October 22, 2014
Failure to comply with Act 427, a new Louisiana homeowners' insurance data reporting law, could result in insurer fines of $10,000 a month, Louisiana Insurance Commissioner Jim Donelon warned in Advisory Letter 2014-05 issued on October 15, 2014.


HTMLAre Sellers Required by Law to Disclose a Death or Murder in the Home?
Michael T. Brown; Perley-Robertson, Hill & McDougall LLP/s.r.l.;
Legal Alert/Article
October 28, 2014, previously published on October 17, 2014
A few years ago, I purchased my home. It was an Estate Sale. As part of the negotiations, I inevitably asked my Realtor to enquire to the vendor’s Realtor, “did the deceased pass away in the home?” The Realtor for the vendor confirmed that as far as she knew, the deceased passed...


HTMLAvoid Taxes by Entering into a Cottage 1031 Safe Harbor
Kate E. Flewelling; Smith Haughey Rice & Roegge, P.C.;
Legal Alert/Article
October 23, 2014, previously published on October 2, 2014
1031 exchanges are often considered by real estate investors when they look to cash out of an investment. Generally speaking, a 1031 exchange (also referred to as a “like-kind exchange”) is a swap of one business or investment asset for a similar asset. For example, you own asset X,...


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