Residential

  • May 31, 2024

    Zillow Rival Tells 9th Circ. Listing Snub Not 'Optional'

    Defunct brokerage platform REX-Real Estate Exchange Inc. urged the Ninth Circuit to revive its deceptive practices suit against Zillow, arguing a Washington federal judge wrongly let the property listing giant off the hook for relegating REX home sale listings to a secondary tab on its website.

  • May 31, 2024

    Judge Axes Class Claims In Navy Federal Discrimination Suit

    A Virginia federal judge has cut claims and denied class certification in a suit accusing Navy Federal Credit Union of racial lending discrimination, saying the statistical evidence from media reports does not establish intentional discrimination.

  • May 31, 2024

    Colo. Establishes Middle-Income Housing Tax Credits

    Colorado is creating a pilot program to provide a tax credit for developers of housing aimed at middle-income residents under a bill signed into law by Gov. Jared Polis.

  • May 31, 2024

    NYC Landlord Inks Deal To End Wage Theft Suit

    A former maintenance worker has agreed in principle to settle his proposed wage theft collective action against a New York City landlord and its property manager, according to a letter filed Friday in New York federal court.

  • May 31, 2024

    IRS Can Seek Tax Beyond Bankruptcy Deal, 11th Circ. Affirms

    A deal between the IRS and an Alabama real estate developer to settle his tax debt for $2 million during Chapter 11 bankruptcy proceedings wasn't final, and the agency can demand additional taxes from him, the Eleventh Circuit affirmed Friday.

  • May 31, 2024

    Race Bias Suit Against Ga. Housing Authority Trimmed

    A Georgia federal judge has narrowed the scope of a civil rights lawsuit filed by a woman who said she was denied a senior position with a local housing authority after leaders found out she'd sued her prior employer, tossing several claims Friday against the ex-chairman of the authority's board.

  • May 31, 2024

    Kirkland Guides Town Lane To $1.25B Debut Real Estate Fund

    Kirkland & Ellis LLP advised the close of an inaugural, $1.25 billion fund for Town Lane, a real estate firm founded by a brother-sister duo with decades of combined experience at Blackstone and Sycamore Partners, according to a Friday news release.

  • May 31, 2024

    Colo. Justices Agree To Weigh In On Blackstone Lease Row

    Colorado's high court agreed Wednesday to answer two key questions in a putative class action against Blackstone subsidiaries, after a federal judge said tenants' claims alleging the companies' lease agreements violate state law present novel legal issues with little case law to provide guidance.

  • May 31, 2024

    Former Miami City Atty Must Face Real Estate Fraud Suit

    A former Miami city attorney can't escape a lawsuit that alleges she aided her husband in a real estate fraud scheme after a Florida state appeals court found the complaint had sufficient allegations to survive her sovereign immunity assertions.

  • May 31, 2024

    4th Circ. Won't Revive NC Homeowners' Storm Coverage Suit

    The Fourth Circuit refused on Friday to revive a suit brought by the owners of a North Carolina beach house accusing certain underwriters at Lloyd's London of stalling a $1 million payout over hurricane damage.

  • May 31, 2024

    Judge Rejects Home Service Workers' Class Cert. Redo Bid

    A Colorado federal judge once again refused to fully certify a putative class of home service professionals who accused HomeAdvisor Inc. and other parties of running a scheme where poor quality customer leads were generated and sold to home service professionals.

  • May 31, 2024

    NJ Judge Says Mortgage Lender's Counterclaim Falls Flat

    A New Jersey federal judge tossed an unfair competition counterclaim brought by Nationwide Mortgage Bankers Inc. in a trade secrets suit by its rival Paramount Residential Mortgage Group, ruling that Nationwide Mortgage's counterclaim allegations do not actually count as unfair competition under Garden State law.

  • May 30, 2024

    CFPB To Probe 'Junk Fees' In Mortgage Closing Costs

    The Consumer Financial Protection Bureau said Thursday that it will scrutinize how "junk fees" may be making it more expensive to purchase a home, kicking off a broad inquiry that could presage a crackdown on rising mortgage closing costs.

  • May 30, 2024

    Real Estate Investor Beats Niece's Suit Over Fall At LA Home

    Real estate investor and philanthropist Stanley Black can't be held liable for injuries suffered by his niece when she tripped and fell on the driveway of his Sunset Boulevard mansion, a California state appeals court has ruled, saying there's no evidence of defects on the driveway she walked on many times before.

  • May 30, 2024

    Colo. Creates Low-Income Housing Investment Tax Credit

    Colorado will allow an income tax credit for investments in certain low-income housing projects and increase the amount of affordable housing tax credits it offers under a bill signed Thursday by Democratic Gov. Jared Polis.

  • May 30, 2024

    Mass. Foreclosure Law May Be Unconstitutional, Judge Says

    A Massachusetts law blocking towns and cities from returning excess funds from foreclosure sales may be an unconstitutional taking, a federal judge has said.

  • May 30, 2024

    2 Firms Guide $84M Loan For Fla. Multifamily Project

    Centennial Bank inked an $84.4 million loan for the joint venture behind a multifamily development in Fort Lauderdale, Florida, which secured local support with plans to reserve 10% of the units at workforce housing levels of affordability.

  • May 30, 2024

    Interest Rates Knock Pending Home Sales, NAR Says

    Pending home sales in the U.S. declined by 7.4% in April year-over-year, and rising interest rates are to blame, the National Association of Realtors said May 30.

  • May 30, 2024

    Fried Frank, Kirkland Pilot $1.55B Multifamily Portfolio Deal

    Brookfield, advised by Fried Frank Harris Shriver & Jacobson LLP, bought a $1.55 billion portfolio of U.S. multifamily properties from Starwood Capital Group, guided by Kirkland & Ellis LLP, in a recently closed deal, a spokesperson for Starwood confirmed this week.

  • May 30, 2024

    High Court Calls For 2nd Circ. Redo In BofA Preemption Fight

    The U.S. Supreme Court on Thursday threw out a Second Circuit decision that freed Bank of America NA from class action litigation brought over a New York escrow interest law, ruling that the circuit court wasn't "nuanced" enough in finding the law preempted for national banks.

  • May 29, 2024

    Judge Won't Ban Rent Law Tweak Amid Landlords' Suit

    A New York federal court refused to issue a preliminary ruling blocking enforcement of a December amendment to the state's rent stabilization laws, saying the landlords who filed suit failed to show the changes violated either the Fourth or the 14th amendments.

  • May 29, 2024

    DACA Holder Accuses Fla. Credit Union Of Discrimination

    A man with temporary immigration protections through the Deferred Action for Childhood Arrivals program is accusing Florida's third-largest credit union of unlawfully denying him a home loan based on his immigration status, in a suit filed Wednesday in federal court.

  • May 29, 2024

    Fla. Gov. Signs Bill Requiring Greater HOA Transparency

    Florida Gov. Ron DeSantis signed a bill on Wednesday that requires homeowners' associations to give physical or digital copies of their rules and covenants to members.

  • May 29, 2024

    Dream Finders Closes $412M Land Banking Deal After Buy

    400 Capital Management LLC and affiliate Builder Capital said Wednesday that they have closed on a $412 million land banking deal with Dream Finders Homes to acquire more than 4,000 residential home sites in Nashville, Tennessee; Charleston, South Carolina; and Greenville, South Carolina.

  • May 29, 2024

    MicroEra Power Plots New Phase For Thermal Energy Storage

    As buildings are increasingly powered by renewable energy, Rochester, New York-based MicroEra Power is working on a thermal storage solution that it says offers many advantages over current lithium batteries. Here's a look at this property technology company's vision, its progress so far and what its leaders see ahead.

Expert Analysis

  • 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.

  • 11 Noteworthy CFPB Developments From 2023

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    Under Rohit Chopra’s leadership, 2023 was an industrious year for the Consumer Financial Protection Bureau, with developments including the release of the proposed personal financial data rights rule, publication of proposed rules involving public registries for nonbanks and the bureau's continuous battle against junk fees, all of which are sure to further progress in 2024, say attorneys at Husch Blackwell.

  • Insured Takeaways From 10th Circ. Interrelated Claims Ruling

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    The Tenth Circuit's recent ruling in American Southwest Mortgage v. Continental Casualty that multiple claims arising from consecutive audit years were interrelated — and thus subject to a per claim limit — creates a concerning precedent for policyholders, so companies should negotiate relevant policy language, says Michael Stockalper at Saxe Doernberger.

  • Baking Bread Makes Me A Better Lawyer

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    After many years practicing law, and a few years baking bread, I have learned that there are a few keys to success in both endeavors, including the assembly of a nourishing and resilient culture, and the ability to learn from failure and exercise patience, says Rick Robinson at Reed Smith.

  • NY Banking Brief: All The Notable Legal Updates In Q4

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    New York's banking and financial sector saw a number of notable regulatory and legislative changes in the final quarter of 2023, including guidance on climate risks and heightened cybersecurity protocols issued by the New York State Department of Financial Services, as well as final revisions to virtual currency listings in the state, say attorneys at WilmerHale.

  • Ill. Justices Set New Standard For Analyzing Defect Claims

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    The Illinois Supreme Court's recent ruling in Acuity v. M/I Homes of Chicago has effectively changed the landscape for how insurers may respond to construction defect claims in the state, so insurers should carefully focus their coverage analysis on whether the business risk exclusions are applicable, say Bevin Carroll and Julie Klein at Kennedys.