Residential
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October 02, 2024
US Seeks To Drop $1M Tax Suit Against Sleep Clinic Founder
The U.S. government seeks to drop its case against a sleep clinic founder and his wife, whom it had accused of hiding assets, after the couple agreed to pay their tax liabilities in full, according to a filing in California federal court Wednesday.
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October 01, 2024
Data Brokers Decry 'Ill-Tailored' NJ Judicial Privacy Law
Data brokers such as Equifax, Thomson Reuters and Zillow urged a New Jersey federal judge Tuesday to toss a suit accusing them of violating Daniel's Law, arguing the state's judicial privacy measure is unconstitutionally broad and unevenly applied.
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October 01, 2024
Calif. Judge Won't Let Insurers Slip Mold Coverage Suit
A California federal judge mostly refused to allow a group of insurers to escape a suit filed by the owner and operator of a 231-unit California apartment complex seeking coverage for mold under a $69 million builders risk policy.
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October 01, 2024
Investment Firm Raises $4.7B For Bonds, Real Estate Loans
Monarch Alternative Capital LP announced Monday that it raised $4.7 billion for the completion of its sixth closed-end fund, surpassing the opportunistic credit and real estate firm's goal and the amount raised for the previous fund.
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October 01, 2024
DC Council Passes Temporary ERAP Reforms
Washington, D.C., officials approved an emergency bill on Tuesday to reform the city's Emergency Rental Assistance Program, a move that council members said can address a financial crisis among landlords of affordable housing that arose from some tenants' misuse of the program.
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October 01, 2024
Insurers Say $40M Hurricane Claims Must Be Arbitrated
A group of insurers led by certain underwriters at Lloyd's, London urged a Louisiana federal court to reject a group of property owners' "last-ditch effort" to avoid arbitrating their hurricane damage claims totaling over $40 million, arguing the owners "don't dispute" that the arbitration provision in their policy is enforceable.
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October 01, 2024
NC Judge Trims Most Of $200M Apartment Complex Sale Suit
A North Carolina federal judge tossed out the breach of contract and deceptive trade practices claims in a real estate firm's suit over a soured $200 million deal to acquire a portfolio of apartment complexes, but the court said the buyer's claims could come back later.
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October 01, 2024
McElroy Deutsch Must Face 'Malicious' Claim From Fired Exec
A former business development director from McElroy Deutsch Mulvaney & Carpenter LLP has been given the go-ahead from a New Jersey state judge to bring a malicious-prosecution claim against the firm in litigation over her and her husband's alleged multimillion-dollar embezzlement from the firm.
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October 01, 2024
Foreclosure Class Wants To Stop Mich. Atty's Victim Outreach
Lawyers behind a proposed tax foreclosure class action in Michigan federal court have said an attorney who recently secured a settlement in a similar case sent a misleading solicitation letter to a client in a bid to undermine the proceedings.
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September 30, 2024
New Calif. Law Limits Warehouse Builds, Experts Say
With Gov. Gavin Newsom's signature Sunday, California has enacted broad restrictions on warehouse development that could pack new projects into commercial areas away from homes, schools and parks, frustrating both business and environmental groups.
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September 30, 2024
Faced With $100M In Unpaid Rent, DC Plans ERAP Reforms
Washington, D.C., officials plan to reform the city's Emergency Rental Assistance Program, saying changes made to it during the COVID-19 pandemic have led to an unsustainable situation where affordable-housing landlords across the district are owed about $100 million in unpaid rent.
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September 30, 2024
Akerman Guides Developer's $165M Fla. Land Purchase
Akerman LLP advised developer GT USA on the company's $165 million purchase of over 2,300 acres of Lake County, Florida, land, the law firm announced on Monday.
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September 30, 2024
NYC Public Housing Tenants Defend Rental Assistance Suit
New York tenants have urged a federal court not to toss their claims that the New York City Housing Authority failed to recalculate rents for residents whose income levels fell during the pandemic, saying their claims aren't time-barred because named tenants' applications are still pending.
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September 30, 2024
NY Man Must Face Brownstone Deed Theft Charges
A New York state court on Monday denied a Long Island man's bid to escape charges accusing him of using forgery and shell companies to steal two brownstone buildings in Harlem that are worth millions of dollars, disagreeing with the man's argument that the case was too stale to prosecute.
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September 30, 2024
Mich. Justices Give Condo Drowning Suit Another Chance
The Michigan Supreme Court on Monday remanded a premises liability lawsuit against a condominium owners association that was brought by the estate of a member, saying an appeals court should take into account the justices' recent ruling that condo associations have a duty to exercise reasonable care to protect condo owners in shared spaces.
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September 27, 2024
Homeowners Can Use Reservation Roads During Tribal Fight
A Wisconsin federal judge has ruled that non-Indian homeowners in the town of Lac du Flambeau may continue to drive on four roads within a Chippewa reservation as the U.S. government joins the tribe in its fight against the town over their respective rights to access.
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September 27, 2024
New Orleans Inspector Indicted For Bribing Top City Official
A New Orleans resident and his home inspection company were indicted in Louisiana federal court Friday on charges that he operated a yearslong scheme of taking bribes to let unlicensed electricians work on hundreds of homes and bribing top city officials to look the other way.
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September 27, 2024
Fla. Timeshare Biz Wins $1.3M Fee Award In False Ad Suit
A Florida federal judge has awarded more than $1.3 million in attorney fees to a timeshare company that prevailed in a lawsuit against a Wyoming company over a false advertising scheme encouraging customers to stop paying for their properties, after agreeing the marketers pursued an "exceptionally weak case" that would not succeed.
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September 27, 2024
Mo. Tenants OK Rent Strikes Against Fannie-Backed Buildings
Tenants in Kansas City, Missouri, voted to authorize rent strikes beginning Tuesday at two multifamily properties backed by Fannie Mae loans, in what organizers say would be part of a coordinated effort to target bad actors benefiting from federally-supported loans.
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September 27, 2024
La. Property Owners Fight Arbitration Of $40M Coverage Row
Dozens of companies seeking insurance payouts for damage caused by hurricanes Ida and Zeta urged a Louisiana federal court not to push their $40 million suit to arbitration, pointing to a clause in their policy allowing them to bring suit over money owed in any U.S. court.
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September 27, 2024
Constitution Permits Blocked Anti-Laundering Law, Panel Told
The U.S. government urged the Eleventh Circuit on Friday to reinstate the Corporate Transparency Act passed in 2021, arguing that the anti-money laundering law is within Congress' powers to regulate economic activity and necessary to have businesses report beneficial ownership to combat crimes like tax evasion and terrorist financing.
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September 27, 2024
RealPage Wants DOJ Antitrust Case Moved To Tennessee
RealPage has asked a North Carolina federal court to transfer the government's antitrust case against it to Tennessee, where private litigation has been playing out over claims the software company helps residential landlords fix rental prices.
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September 27, 2024
Hurricane Helene Losses Could Exceed $5B: Market Analyst
The losses from Hurricane Helene, a Category 4 storm that slammed into Florida's panhandle Thursday evening, could exceed $5 billion and challenge insurers dealing with high reinsurance costs, according to an early estimate from the insurer credit rating company AM Best.
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September 27, 2024
Homebuilder Says NC Developer Reneged On $62M Land Deal
Homebuilder Meritage Homes of the Carolinas Inc. accused a North Carolina developer on Friday of defaulting on a more than $61 million land development deal by failing to subdivide nearly 200 acres of land into a residential community with 785 lots.
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September 27, 2024
Property Plays: Gencom, A. Walker & Co., Capital Square
Property Plays is a weekly roundup of the latest loans, leases, sales and projects around the country. Send your tips — all confidential — to realestate@law360.com.
Expert Analysis
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Calif. Housing Overhaul May Increase Pressure On Landlords
Two recently enacted California laws signal new protections and legal benefits for tenants, but also elevate landlords' financial exposure at a time when they are already facing multiple other hardships, says Laya Dogmetchi at Much Shelist.
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New Proposal Signals Sharper Enforcement Focus At CFIUS
Last week's proposed rule aimed at broadening the Committee on Foreign Investment in the United States' enforcement authority over foreign investments and increasing penalties for violations signals that CFIUS intends to continue expanding its aggressive monitoring of national security issues, say attorneys at Kirkland.
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Climate Disclosure Mandates Demand A Big-Picture Approach
As carbon emissions disclosure requirements from the European Union, California and the U.S. Securities and Exchange Commission take effect, the best practice for companies is not targeted compliance with a given reporting regime, but rather a comprehensive approach to systems assessment and management, says David Smith at Manatt.
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Playing Hockey Makes Me A Better Lawyer
Nearly a lifetime of playing hockey taught me the importance of avoiding burnout in all aspects of life, and the game ultimately ended up providing me with the balance I needed to maintain success in my legal career, says John Riccione at Taft.
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Illinois EV Charging Act Sparks Developer Concerns
A recent state law in Illinois requiring multifamily housing to provide facilities for electric vehicle charging raises significant concerns for developers over existing infrastructure that isn't up to the task, says Max Kanter at Much Shelist.
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What NAR Settlement Means For Agent Commission Rates
If approved, a joint settlement agreement between the National Association of Realtors and a class of home sellers will likely take the onus off home sellers to compensate buyers' agents, affecting considerations for all parties to real estate transactions, say attorneys at Jones Foster.
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Calif. Banking Brief: All The Notable Legal Updates In Q1
The first quarter of the year brought the usual onslaught of new regulatory developments in California — including a crackdown on junk fees imposed by small business lenders, a big step forward for online notarizations and a ban on predatory listing agreements, says Alex Grigorians at Hanson Bridgett.
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2nd Circ. Ruling Clarifies When Demand Letters Are Claims
The Second Circuit’s decision last week in Pine Management v. Colony Insurance, affirming that an insurer had no obligation to defend an insured for claims made before the policy period, provides clarity on when presuit demands for relief constitute claims — an important issue that may be dispositive of coverage, says Bonnie Thompson at Lavin Rindner.
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Serving As A Sheriff's Deputy Made Me A Better Lawyer
Skills developed during my work as a reserve deputy — where there was a need to always be prepared, decisive and articulate — transferred to my practice as an intellectual property litigator, and my experience taught me that clients often appreciate and relate to the desire to participate in extracurricular activities, says Michael Friedland at Friedland Cianfrani.
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Preparing For Possible Calif. Criminal Antitrust Enforcement
Though a recent announcement that the California Attorney General's Office will resume criminal prosecutions in support of its antitrust enforcement may be mere saber-rattling, companies and their counsel should nevertheless be prepared for interactions with the California AG's Antitrust Section that are not limited to civil liability issues, say Dylan Ballard and Lillian Sun at V&E.
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Conn. Loan Law Tweaks May Have 3 Major Effects On Lenders
Recently proposed minor amendments to Connecticut’s consumer protection laws could nonetheless mean major and unexpected changes to state consumer financial services regulations that dictate how lenders and their customer-facing service providers handle fee payments, mortgage servicer licensing and private student loans, says Jonathan Joshua at Joshua Law Firm.
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Document Retention Best Practices To Lower Litigation Risks
As new technologies emerge and terabytes of data can be within the purview of a single discovery request, businesses small and large should take four document management steps to effectively minimize risks of litigation and discovery sanctions long before litigation ensues, says Kimbrilee Weber at Norris McLaughlin.
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Riding My Peloton Bike Makes Me A Better Lawyer
Using the Peloton platform for cycling, running, rowing and more taught me that fostering a mind-body connection will not only benefit you physically and emotionally, but also inspire stamina, focus, discipline and empathy in your legal career, says Christopher Ward at Polsinelli.