Residential

  • February 28, 2024

    Brothers' 20-Year Calif. Real Estate Battle Ends In $7B Verdict

    A Los Angeles jury has awarded four brothers an estimated $7 billion verdict, finding that a fifth brother breached their contracts and his fiduciary duty to them by wrongly pushing them out of various business partnerships that included thousands of units of apartment buildings and a diamond venture. 

  • February 28, 2024

    Ariz. AG Says RealPage, Landlords Use Algo To Fix Rent Prices

    Arizona's attorney general on Wednesday filed an antitrust suit in state court against RealPage and several landlords over an alleged conspiracy to illegally raise rents for hundreds of thousands of renters by using the software company's algorithms to quell competition.

  • February 28, 2024

    Fla. Judge OKs $43.5M Deutsche Bank Deal In Ch. 15 Case

    A Florida bankruptcy judge on Wednesday approved a $43.5 million settlement between Deutsche Bank AG and liquidators for a group of Caribbean-based companies to resolve claims against the bank for its alleged role in a real estate Ponzi scheme targeting rich South Americans.

  • February 28, 2024

    Wash. Housing Program Funding Stream Survives Challenge

    A Washington appellate court has upheld a document-recording surcharge implemented statewide in 2021, the proceeds of which fund housing and homelessness initiatives, overriding a trade group's arguments that the surcharge is an unconstitutional property tax.

  • February 28, 2024

    CFPB, FTC Urge 11th Circ. To Rule Against 'Pay-To-Pay' Fees

    The Consumer Financial Protection Bureau and Federal Trade Commission have backed consumers battling mortgage servicer Ocwen over the legality of so-called convenience fees, urging the Eleventh Circuit to affirm that federal prohibitions apply to the charges.

  • February 28, 2024

    Brokerages Seek Exit From Missouri Commission-Fixing Suit

    Several real estate brokerages pushed to exit a putative antitrust class action in Michigan federal court accusing them and the National Association of Realtors of conspiring to inflate commission fees for buyer-brokers, saying the court lacks personal jurisdiction and that arbitration is required.

  • February 28, 2024

    Homeowners Urge Judge To Toss 'Tactical' MV Realty Ch. 11

    A committee of homeowners who signed agreements with MV Realty told a Florida bankruptcy judge on Tuesday that the company filed for Chapter 11 as a maneuver to dodge a series of state actions seeking to void predatory deals with some 40,000 homeowners in 34 states.

  • February 28, 2024

    Insurance Agency Says It Wasn't Told Of Airbnb Shooting Suits

    A Pennsylvania insurance agency accused of concealing that a Pittsburgh Airbnb property was subject to numerous lawsuits over a mass shooting has claimed that the property owner never revealed the problems when shopping for a new policy, so it wasn't the agency's fault when the new insurer canceled coverage.

  • February 28, 2024

    Real Estate Group Of The Year: Hogan Lovells

    Hogan Lovells oversaw a busy 2023 that included successfully defending real estate investment trust Life Storage from a hostile takeover attempt, advising on billions in transactions in the real estate investment trust space and guiding clients to a direct listing on the New York Stock Exchange, earning the firm a spot among Law360's 2023 Real Estate Groups of the Year.

  • February 27, 2024

    Justices Skeptical Of Workability In BofA Preemption Fight

    The U.S. Supreme Court appeared hesitant Tuesday to side with consumers who say that Bank of America and other national banks can't claim exemption from state laws in court without first proving "significant" interference from them, signaling practical concerns about what reversing a contrary Second Circuit decision could entail.

  • February 27, 2024

    NJ Real Estate Fund Executive Cops To $658M Ponzi Scheme

    The CEO of a Garden State real estate investment fund pled guilty in New Jersey federal court on Tuesday to defrauding more than 2,000 investors through a $658 million Ponzi scheme, while also evading millions of dollars in tax liabilities, according to federal prosecutors.

  • February 27, 2024

    Attys Get Personal In Mich. Foreclosure Default Fight

    Counsel traded jabs Monday over Michigan counties' tax foreclosure practices, with a lawyer for county treasurers claiming the other side took advantage of a family medical situation to launch a default judgment bid and a plaintiffs' attorney saying the case had ruined his friendship with the other lawyer.

  • February 27, 2024

    NY Judge Tosses Hotel Timeshare RICO Claims For Good

    A New York federal judge again dismissed a Racketeer Influenced and Corrupt Organizations Act suit filed by owners of timeshare interests in a nonprofit affiliated with The Manhattan Club hotel, ruling that the plaintiffs failed to specifically allege how the affiliate's managers schemed to deceive and defraud them.

  • February 27, 2024

    Md. Panel OKs Municipal Local Property Tax Credit Bill

    Maryland would allow the governing body of a municipality to award property tax credits for three property situations, the amount of which could be decided by the municipality, under a bill passed Tuesday by the state House Ways and Means Committee.

  • February 27, 2024

    Developer, Nonprofit Borrow $242M For Queens Properties

    Entities connected to New York City developer Gotham Organization Inc. and nonprofit RiseBoro Community Partnership borrowed a more than $242 million mortgage loan from the city's government, including its Department of Housing Preservation and Development, for a number of properties located in Queens' Long Island City neighborhood, according to official records released Tuesday.

  • February 27, 2024

    NC Short-Term Rental Law Fight Gets Partial Remand

    A North Carolina federal judge divvied up a proposed class action lodged by three vacation property companies claiming a county's recently passed zoning ordinance illegally places restrictions on short-term rentals, sending the state law claims back to state court but maintaining jurisdiction over the federal allegations.

  • February 27, 2024

    Connecticut Atty's Fishy Email Prompts Trust Account Audit

    A Connecticut Superior Court judge has ordered an attorney to cooperate with an official audit of his Webster Bank lawyer trust account after he responded to an overdraft notice and a commensurate disciplinary inquiry with an email saying the issue wasn't a priority because he was on a fishing trip.

  • February 27, 2024

    DC Plans $400M In Upgrades To Back Struggling Downtown

    Washington, D.C., Mayor Muriel Bowser has rolled out a plan to spend $401 million over the next five years to improve the city's downtown as it suffers from rising office vacancies and braces for two professional sports teams to leave for suburban Virginia.

  • February 27, 2024

    Mass. AG Sues Boston Suburb For Flouting Housing Law

    Massachusetts Attorney General Andrea Joy Campbell is seeking an injunction, fines or possibly the appointment of a special master to force the Boston suburb of Milton to comply with a state housing law requiring multifamily zoning that the town's voters rejected in a referendum earlier this month, according to a lawsuit filed Tuesday.

  • February 27, 2024

    Sheppard Mullin Guides $60M Queens Construction Loan

    Sheppard Mullin represented lender Slate Property Group in connection with a $60.25 million construction loan for a mixed-use project in Queens, the law firm told Law360 on Feb. 26.

  • February 26, 2024

    BofA Battle Will Test Preemption's Reach At High Court

    The U.S. Supreme Court is set Tuesday to consider whether federal law exempts national banks from state-level escrow interest requirements, a case whose technical-sounding focus belies its hefty implications for the balance of federal and state regulatory power over many of the nation's big banks.

  • February 26, 2024

    Timeshare Settlement Can't Stop Additional Consumer Suit

    A Washington marketing firm must face negligent misrepresentation and consumer protection claims over links to a timeshare-exit company, according to a Washington federal judge who ruled that a group of consumers seeking refunds are not barred from suing because of a settlement in another case.

  • February 26, 2024

    Fla. Official Can't Save Home From Verdict, Businessmen Say

    Two Miami businessmen have urged a federal judge to block a city commissioner's attempt to prevent the forced sale of his house to satisfy a $63.5 million judgment, saying he voted to unconstitutionally gerrymander the city's districts to include the property and also improperly claimed a last-minute homestead protection.

  • February 26, 2024

    Nashville Moves Forward On Major Housing Development Plan

    Nashville Mayor Freddie O'Connell's office announced that it has finalized a framework with developer The Fallon Co. to transform 30 acres of the city's East Bank neighborhood and develop 1,550 housing units, teeing up the project for review by the Metropolitan Council.

  • February 26, 2024

    Mercedes-Benz, JDS Unveil New Miami Residential Tower

    Automaker Mercedes-Benz and developer JDS Development Group announced on Monday the construction of a 67-story, 791-unit mixed-use residential building in Miami that will take up more than 2.5 million square feet.

Expert Analysis

  • Setting The Stage For High Court BofA Escrow Interest Case

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    Dori Bailey and Curtis Johnson at Bond Schoeneck examine relevant legislation and case law dating back 200 years ahead of oral arguments at the U.S. Supreme Court on Tuesday in Cantero v. Bank of America, the outcome of which will determine whether state laws governing mortgage escrow accounts can be enforced against national banks.

  • DC's Housing Tax Break Proposal: What's In It, What's Missing

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    Proposed Washington, D.C., rules implementing the Housing in Downtown Tax Abatement program — for commercial property owners who convert properties into residential housing — thoroughly explain the process for submitting an application, but do not provide sufficient detail regarding the actual dollar value of the abatements, says Daniel Miktus at Akerman.

  • Assessing The Future Of Colorado's Economic Loss Rule

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    The Colorado Supreme Court's decision to review a state appellate court's ruling in Mid-Century Insurance Co. v. HIVE Construction will significantly influence the future of Colorado's economic loss rule, with high stakes for the cost of doing business in the state, says David Holman at Crisham & Holman.

  • How Recent Laws Affect Foreign Purchase Of US Real Estate

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    Early diligence is imperative for U.S. real estate transactions involving foreign actors, including analysis of federal and state foreign investment laws implicated by the transaction, depending on the property's nature and location, the parties' citizenship, and the transaction's structure, say Massimo D’Angelo and Anthony Rapa at Blank Rome.

  • What Shareholder Approval Rule Changes Mean For Cos.

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    The U.S. Securities and Exchange Commission recently approved proposed rule changes to shareholder requirements by the New York Stock Exchange, an approval that will benefit listed companies in many ways, including by making it easier to raise capital from passive investors, say attorneys at Baker Botts.

  • High Court Case Could Reshape Local Development Fees

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    If last month's oral arguments are any indication of how the U.S. Supreme Court will rule in Sheetz v. County of El Dorado, it's unlikely the justices will hold that the essential nexus and rough proportionality tests under the cases of Nollan, Dolan and Koontz apply to legislative exactions, but a sweeping decision would still be the natural progression in the line of cases giving property owners takings claims, says Phillip Babich at Reed Smith.

  • White Collar Plea Deals Are Rarely 'Knowing' And 'Voluntary'

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    Because prosecutors are not required to disclose exculpatory evidence during plea negotiations, white collar defendants often enter into plea deals that don’t meet the U.S. Supreme Court’s “knowing” and “voluntary” standard for trials — but individual courts and solutions judges could rectify the issue, says Sara Kropf at Kropf Moseley.

  • How 2 CFPB Advisory Opinions Affect Reporting Agencies

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    The Consumer Financial Protection Bureau issued two advisory opinions last month that demonstrate a continued commitment to address inaccuracies in background check reports and consumer file disclosures through broad interpretation of the Fair Credit Reporting Act, expanding on a coordinated federal agency effort, say attorneys at Cooley.

  • Algorithmic Pricing Programs Caught In Antitrust Crosshairs

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    The Justice Department's investigation into software company RealPage follows a host of federal antitrust cases alleging that property owners and casino hotel operators use the same proprietary software programs to fix and maintain pricing, which means algorithmic pricing programs are considered a key price-fixing tool in the digital age, say attorneys at Ballard Spahr.

  • A Welcome Turning Of The Page For Residential Real Estate

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    After one of the most challenging years on record for residential real estate, 2024 will likely be a time of transition to a stabler business climate, as sellers lose some of their excess bargaining power and the pace of sales picks up, says Marty Green at Polunsky Beitel.

  • Strict Duty To Indemnify Ruling Bucks Recent Trend

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    A South Carolina federal court's recent decision that it lacked subject matter jurisdiction to decide an insurer's duty to indemnify prior to the finding of insured liability sharply diverges from the more nuanced or multipronged standards established by multiple circuit courts, says Richard Mason at MasonADR.

  • Ill. Insurance Ruling Helps Developers, Community Orgs. Alike

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    The Illinois Supreme Court's decision in Acuity v. M/I Homes of Chicago, holding that commercial general liability policy exceptions did not prevent coverage for damage caused by faulty workmanship, will bring more potential insurance coverage for real estate developers and, in turn, larger payouts when community organizations sue them, say Howard Dakoff and Suzanne Karbarz Rovner at Levenfeld Pearlstein.

  • NJ Foreclosure Law Will Have Multifaceted Impact On Lenders

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    New Jersey's A.B. 5664 introduces significant reforms to foreclosure proceedings in the state, potentially lessening the burden on lenders and servicers to maintain foreclosed properties, but also brings new limitations and time frames, say Christina Livorsi and Wael Amer at Day Pitney.