Residential
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December 02, 2024
Consulting Firm Says Insurer On Hook For $7.6M Deal
A consulting firm told an Illinois federal court that its insurer must reimburse it for a $7.6 million settlement with the U.S. Department of Justice relating to a lawsuit accusing the firm of allowing personal information to be compromised, maintaining that the litigation fell within its policy's scope.
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December 02, 2024
Kirkland Adds 2 Real Estate Partners To NYC Office
Kirkland & Ellis LLP has hired ex-Fried Frank partner Matthew Bettinger and former Schulte Roth & Zabel LLP partner Seth R. Henslovitz as new partners for its real estate team in New York City, the firm announced on Monday.
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December 02, 2024
NYC Real Estate Week In Review
Goodwin Procter and Blank Rome are among more than half a dozen law firms that guided the top New York City real estate deals that hit public records last week, a busy period for filings despite the holiday-shortened week.
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November 27, 2024
Landlords Tell NY High Court To Nix Kingston's Rent Rollback
A nonprofit representing property owners and a group of Kingston, New York, landlords urged the state's highest court to reverse a lower court's March ruling that upheld the city's rent stabilization resolution, its 15% rent rollback and its retroactive rent threshold that could result in refunds for illegal rent overcharges.
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November 27, 2024
Developer Reboots Plan For Miami Beach Deauville Project
Miami Beach officials have reviewed a new plan to bring a hotel and condominium towers to the city's former Deauville Beach Resort location, with developers relying on a new state law preventing voter opposition of the sort that ended a previous intended development at the site two years ago.
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November 27, 2024
Developer Settles Landslide Claims From Ryan Homes, Town
The bankrupt developer of a housing project that was beset by landslides has settled with a construction company and a Western Pennsylvania township in exchange for finishing some of its remaining cleanup work and giving the township the remaining lots, burying a six-year dispute.
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November 27, 2024
Compass NJ Tapped To Sell $33M Miles Guo Mansion In Ch. 11
The trustee handling the Chapter 11 of exiled Chinese businessman and convicted fraudster Miles Guo asked the Connecticut bankruptcy court to let him hire four agents with residential real estate firm Compass to sell a historic 58-room mansion in Mahwah, New Jersey.
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November 27, 2024
Mich. Bill Would Bar Local Property Tax Caps Tied To Rate Cut
Michigan would bar local governments from imposing caps on annual property tax revenue that require an automatic rate reduction as part of a bill introduced in the state House of Representatives.
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November 27, 2024
Data Cos. Lose Challenge To NJ Judicial Privacy Law
A federal judge has ruled that the New Jersey judicial privacy and security measure known as Daniel's Law is constitutional, handing a defeat to a large group of data brokers accused of illegally posting judges' names and addresses online.
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November 27, 2024
Howard Hughes Corp. Beats Hurricane Harvey Flood Suit
A Texas state appellate court has sided with Howard Hughes Corp. and an engineering company in an appeal brought by homeowners who claimed the companies were liable for property damage caused by Hurricane Harvey in August 2017.
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November 26, 2024
NAR Buyer-Broker Settlement Approved Over DOJ Concerns
A Missouri federal judge granted final approval Tuesday to the National Association of Realtors' antitrust settlement with home sellers, signing off on a $418 million payment and changes to broker commission rules, as NAR and the plaintiffs assailed the U.S. Department of Justice for raising last-minute concerns about the deal.
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November 26, 2024
NYC Lawmakers Detail Breakdown Of $5B Housing Plan
The New York City Council's $5 billion "City for All" initiative aims to provide more funding for affordable housing development and preservation, a down payment assistance program, infrastructure investments and more, the city lawmakers announced.
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November 26, 2024
9th Circ. Pauses Ruling For VA To Build Vets' Housing
The Ninth Circuit paused a federal judge's order for the U.S. Department of Veterans Affairs to build housing for veterans on a Los Angeles campus, allowing time for several constituents to weigh in on the matter.
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November 26, 2024
New Orleans Property Owner Revives Bid To Nix Arbitration
A New Orleans property owner has again urged a Louisiana federal judge to overturn his order forcing it to arbitrate a $7 million Hurricane Ida damage claim with 11 insurers for a block of luxury apartments and retail shops, pointing to a recent ruling by the state's top court.
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November 26, 2024
NY Authorizes County, City To Raise Tax Rates On Hotel Stays
New York authorized Dutchess County and the city of Hudson to increase taxes on hotel and motel stays under legislation signed by Democratic Gov. Kathy Hochul.
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November 26, 2024
7th Circ. Says Insurer Must Defend $3.4M Faulty Work Row
An architectural design firm's commercial general liability insurer must defend it and its owner against faulty work claims seeking more than $3.4 million in damages, the Seventh Circuit ruled, after the Illinois Supreme Court overturned prior appellate precedent siding with insurers in such disputes.
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November 25, 2024
Gov't Defends EB-5 Rule That Hikes Up Petition Fees
The U.S. Department of Homeland Security and its U.S. Citizenship and Immigration Services agency pushed for an early win in Texas federal court against a suit challenging increases for filing fees for petitions related to USCIS' EB-5 immigrant investor program.
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November 25, 2024
NY State Court Strikes Rent Stabilization In Poughkeepsie
A New York state court judge vacated the city of Poughkeepsie's recent adoption of rent stabilization, finding that an underlying housing vacancy survey too broadly interpreted a state law that raised the stakes for landlords that failed to cooperate with such surveys.
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November 25, 2024
Feds Want Ex-FBI Agent's Bribery Appeal Tossed
Federal prosecutors have told the D.C. Circuit to reject an ex-Federal Bureau of Investigation agent's appeal of his bribery convictions in a property buying scheme, arguing there was "sufficient evidence" against him.
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November 25, 2024
US Bank Loses Bid To Block Fla. Case Over Condo Ponzi Debt
A federal judge denied a motion from U.S. Bank in abstaining from a Florida condo association's state court moves to free itself from a bond debt tied to a development district that was established nearly two decades ago by the architects of a Ponzi scheme.
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November 25, 2024
NJ Judge Allows Nonprofit To Join Affordable Housing Fight
A New Jersey nonprofit is aligned with the state's government in a challenge to a new affordable housing obligation framework it adopted, but that alignment of goals does not mean the nonprofit should not also be allowed to intervene on the case, a Garden State judge said in an order.
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November 25, 2024
Tenant's Death Excluded From Coverage, Kansas Judge Says
A Kansas federal judge granted an insurer an early win in a coverage dispute with an apartment complex over an underlying lawsuit in which a tenant's son says his father died of hypothermia because of a faulty furnace, finding that a "habitability exclusion" barred coverage for the suit.
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November 25, 2024
Mortgage Co. Unfairly Inflated Borrowers' Balances, Suit Says
Shellpoint Mortgage Servicing was hit Friday with a proposed class action alleging the company and its predecessor in interest, Specialized Loan Servicing LLC, inflated borrowers' balances on long-dormant second mortgages through "unfair, deceptive and unconscionable means."
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November 25, 2024
4th Circ. Stands By HELOC 'Offset' Ruling Against PNC
The full Fourth Circuit has declined to reconsider a panel decision that extended protections under the Truth In Lending Act by barring banks from dipping into a cardholder's deposit account to cover outstanding payments on a home equity line of credit without the borrower's consent.
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November 25, 2024
NYC Real Estate Week In Review
Goldgrub Law and Mandelbaum Barrett are among the law firms that steered the largest New York City real estate deals to hit public records last week, a period that saw several large residential transactions across Manhattan and Queens.
Nonprofit Wins Right To Buy In LIHTC Verdict Against Investor
A California federal jury allowed an affordable housing nonprofit to take possession of a 320-unit Long Beach complex built with low-income housing tax credits over arguments from an investor challenging the transfer after buying into a partnership for the development.
Land-Use Attys Praise NYC's Modified Zoning Plan
Land-use attorneys say a revised version of Mayor Eric Adams' City of Yes plan — New York City's most comprehensive zoning overhaul in over 60 years, if approved — will speed up affordable housing production, yet they stressed a continued need for more infrastructure investment and funding.
Progress Hit With Fair Housing Suit, Class Action Sought
Progress Residential LLC has violated the Fair Housing Act of 1968 with a discriminatory application denial policy that disproportionally affects Black renters, according to a complaint filed Wednesday in Indiana federal court that seeks a class action.
Expert Analysis
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What Interest Rate Cuts Mean For Housing Markets
The Federal Reserve's recent reduction of interest rates may provide limited immediate relief for real estate sectors, but offers potential opportunities for commercial real estate investors and construction firms, which now face an environment ripe for new projects, say attorneys at Cozen O'Connor.
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California Supreme Court's Year In Review
Attorneys at Horvitz & Levy highlight notable decisions on major questions from the California Supreme Court's last term, including voter initiatives, hostile work environment and the economic loss rule.
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How CFIUS' Updated Framework Affects Global Investors
The recent change to the monitoring and enforcement regulations governing the Committee on Foreign Investment in the United States will broaden administrative practices around nonnotified transaction investigations, increase the scope of information demands from the committee and accelerate its ability to impose mitigation on parties, say attorneys at Simpson Thacher.
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Flying Makes Me A Better Lawyer
Achieving my childhood dream of flying airplanes made me a better lawyer — and a better person — because it taught me I can conquer difficult goals when I leave my comfort zone, focus on the demands of the moment and commit to honing my skills, says Ivy Cadle at Baker Donelson.
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'Reverse Redlining' Suit Reveals Language Risks For Lenders
The Justice Department's case against consumer finance provider Colony Ridge highlights the government's focus on lending to consumers with limited English proficiency and the risks of generating marketing materials in other languages while conducting actual transactions in English, say attorneys at Goodwin.
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Circus Arts Make Me A Better Lawyer
Performing circus arts has strengthened my ability to be more thoughtful, confident and grounded, all of which has enhanced my legal practice and allowed me to serve clients in a more meaningful way, says Bailey McGowan at Stinson.
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Hurricane Coverage Ruling Clarifies Appraisal Scope In Fla.
In a case involving property insurance for hurricane damage, a Florida federal court recently enforced policy limits despite an appraisal award exceeding those limits, underscoring the boundaries between valuation and coverage — a distinction that provides valuable guidance for insurers handling post-catastrophe claims, says Tiffany Bustamante at Cozen O’Connor.
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Feds May Have Overstepped In Suit Against Mortgage Lender
The U.S. Department of Justice's lawsuit against Rocket Mortgage goes too far in attempting to combat racial bias and appears to fail on the fatal flaw that mortgage lenders should be at arm's length from appraisers, says Drew Ketterer at Ketterer & Ketterer.
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Foreclosing Lenders Still Floating In Murky Legal Waters In NY
The New York foreclosure landscape remains in disarray after the state's highest court last month declined to weigh in on whether legal changes from 2022 that severely curtailed lenders' ability to bring successive foreclosure cases were retroactive, says Brian Rich at Barclay Damon.
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Being A Navy Reservist Makes Me A Better Lawyer
Serving this country in uniform has not only been one of the greatest honors of my life, but it has also provided me with opportunities to broaden my legal acumen and interpersonal skills in ways that have indelibly contributed to my civilian practice, says Phillip Smith at Weinberg Wheeler.
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Philly's Algorithmic Rent Ban Furthers Antitrust Policy Trends
A Philadelphia bill banning the use of algorithmic software to set rent prices and manage occupancy rates is indicative of growing scrutiny of this technology, and reflects broader policy trends of adapting traditional antitrust principles to respond to new technology, say attorneys at Ballard Spahr.
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Playing Ultimate Makes Us Better Lawyers
In addition to being fun, ultimate Frisbee has improved our legal careers by emphasizing the importance of professionalism, teamwork, perseverance, enthusiasm and vulnerability, say Arunabha Bhoumik and Adam Bernstein at Regeneron.
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How Property Insurance Coverage Shrank After The Pandemic
Insurers litigating property claims are leveraging rulings that provided relief in the COVID-19 context to reverse the former majority rule on physical loss or damage in all contexts, say attorneys at Reed Smith.