Residential

  • June 18, 2024

    Short-Term Rental Laws And The Litigation They've Sparked

    Short-term rentals are a contentious topic in the U.S., disrupting the hospitality industry and sometimes the neighborhoods where they’re located. Here, Law360 Real Estate Authority rounds up the state and local policies involving short-term rentals and the ongoing cases challenging them.

  • June 17, 2024

    Fla. Condo Board Says Group Wrongly Accused It Of Crimes

    A Florida condominium association has brought a Miami-Dade County state court lawsuit against a residents group over defamation, accusing the group of luring tenants into a WhatsApp chat to disseminate false statements, including that board members committed crimes.

  • June 17, 2024

    Pastor Tied To NYC Mayor Gets 9 Years For Fraud Conviction

    A clergyman and self-described mentee of New York City Mayor Eric Adams on Monday was sentenced to nine years in federal prison following his conviction at trial for a series of fraudulent real estate and business loans, among other misdeeds.

  • June 17, 2024

    PennyMac 'Shocked' Investors With Post-Libor Fix, Suit Says

    PennyMac's mortgage investment arm has been hit in California federal court with a proposed class action accusing it of using last year's discontinuation of Libor to unfairly and unlawfully lock in a lower dividend for some of its preferred stock, stiffing investors out of millions.

  • June 17, 2024

    Wash. Property Manager Hit With Suit Over Extra Fee

    A proposed class of former tenants accused a Bellevue, Washington, property management company of violating state law by charging a $100 security deposit disposition fee when tenants move out.

  • June 17, 2024

    HUD Freed From Pa. Pot Patients' Suit Over Housing Rebuff

    Unless the U.S. Department of Housing and Urban Development fulfills its threat to withhold a Pennsylvania county housing agency's funding for complying with a state court order to admit licensed medical marijuana patients, a lawsuit by the county agency and two potential tenants is premature, a federal judge ruled Monday.

  • June 17, 2024

    Ginnie Mae, HUD Want Bank's Loan Lien Suit Sent To Dallas

    The U.S. Department of Housing and Urban Development and Ginnie Mae pushed for the transfer of Texas Capital Bank's suit in Texas federal court over a vacated loan lien, arguing that the bank is contractually required to file its suit in a different division within the same district.

  • June 17, 2024

    Consulting Firms To Pay $11.3M Over Rent Help Site Breach

    A consulting firm and its subcontractor have agreed to pay $11.3 million to resolve a False Claims Act suit alleging that they allowed the personal data of low-income New Yorkers to be compromised while operating a pandemic-era rental assistance program website.

  • June 17, 2024

    Archer Daniels Wants Groundwater Wells Suit Tossed

    Archer Daniels Midland Co. urged an Illinois state court to dismiss a proposed class action that accuses the food processing giant of damaging local properties by digging groundwater wells.

  • June 17, 2024

    RI Allows Unrestricted Property Tax Rates In Providence

    Rhode Island is authorizing the city of Providence to adopt a classification system that allows unrestricted tax rates for residential, commercial, industrial and tangible personal property under bills that became law without the governor's signature.

  • June 17, 2024

    NJ Tax Court Upholds Town's $1M Valuation Of Residence

    The New Jersey Tax Court affirmed the township of Montclair's roughly $1 million valuation of a single-family residence, saying the homeowners failed to account for differences in other properties that they argued warranted cutting the assessment.

  • June 14, 2024

    Property Plays: Net Lease REIT, Vornado, Citadel

    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.

  • June 14, 2024

    Zillow Settles Antitrust Case Against ShowingTime Rival

    Zillow has reached a settlement ending its case in Arizona federal court accusing a pair of multiple listing services of blocking members from using its ShowingTime tool in order to protect a rival tool that allows real estate agents and others to manage property showings.

  • June 14, 2024

    Colo. Town Says It Took Resort Co.'s Land To Protect Sheep

    A Colorado town has told a state appeals court it was justified in condemning and taking over local land that was owned by The Vail Corp. because the town needed to preserve wildlife space for a bighorn sheep herd.

  • June 14, 2024

    Miami Tower Takes $668M In Fla.'s Biggest Construction Loan

    Kramer Levin Naftalis & Frankel LLP and Saul Ewing LLP advised developer Property Markets Group on taking out a $668 million construction loan — the largest in state history — for its Waldorf Astoria Hotel and Residences Miami.

  • June 14, 2024

    Political Speech Groups Challenge NJ Judicial Privacy Case

    Two voting-integrity groups moved Friday to dismiss federal claims brought against them under New Jersey's Daniel's Law on the grounds that their business of publishing voter registration information is political speech protected by the First Amendment and federal voting rights laws.

  • June 14, 2024

    Polsinelli Adds Ex-Withers Real Estate Atty In NY

    Polsinelli PC has hired a commercial real estate attorney from Withers as a shareholder in New York.

  • June 13, 2024

    CRE Expert Joins Emmet Marvin's Real Estate Finance Group

    Emmet Marvin & Martin LLP announced that the firm has added a partner to its real estate finance group, bringing with her the commercial real estate expertise she gained from Cadwalader Wickersham & Taft LLP.

  • June 13, 2024

    NexPoint Asks Investors To Shake Up REIT After Ponzi Case

    In a letter to shareholders June 13, an investor accused four incumbent trustees of repeatedly acting against their fiduciary duties in overseeing United Development Funding, a Texas-based firm controlled by four executives now serving time for running a Ponzi scheme.

  • June 13, 2024

    Mich. Bill Seeks Income Tax Credit For Home Down Payments

    Michigan would create an income tax credit for homebuyers who purchase a single-family residence that would equal a portion of the down payment amount as part of a bill introduced in the state House of Representatives.

  • June 13, 2024

    Fla. Developer Inks $50M Capital Stack for Affordable Complex

    Developer and construction company Pinnacle announced that it has secured $49.9 million in financing from various sources, which will allow the company to begin construction on a 120-unit expansion of an affordable housing community in unincorporated Miami-Dade County.

  • June 13, 2024

    Blackstone's $10B AIR Buy Gets Nod From Top 2 Proxy Firms

    Denver-based Apartment Income REIT Corp.'s shareholders have recommendations from the two leading proxy advisory firms to approve an agreement to sell off the real estate investment trust to private equity giant Blackstone for $10 billion, the company announced June 13. 

  • June 13, 2024

    Thompson Thrift Closes $250M Multifamily Development Fund

    Thompson Thrift announced that the national real estate firm raised more than $250 million for its latest multifamily development fund, which will enable work on seven housing communities in suburban markets across the nation.

  • June 13, 2024

    Ohio Senate OKs Requiring Tax Payments For Property Splits

    Ohio would require delinquent property taxes to be paid before a real parcel was subdivided or transferred and would prohibit tax-delinquent property owners from buying tax-foreclosed property under a bill passed by the state Senate.

  • June 13, 2024

    NYC Real Estate Week In Review

    Willkie, Latham and Milbank were among the law firms that handled the largest New York City real estate deals that hit public records last week, a period that saw three deals north of $100 million hit records.

Expert Analysis

  • A New Path Forward For Surplus Land Owners In Calif.

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    A new California law signed last month enables some religious institutions and nonprofit colleges to build affordable housing on surplus land, and its requirements — which are more manageable than they may appear — will support long-term benefits including good housing and the survival of worthy institutions, says Stephen Wilson at Withers.

  • Inside Bank Regulators' Community Lending Law Overhaul

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    The federal banking agencies' recently finalized changes to the Community Reinvestment Act not only account for the gradual shift to an environment where lending and deposit-taking are primarily conducted online, but also implement other updates such as diversity initiatives and a new series of lending tests, say attorneys at Norton Rose.

  • A Bird's Eye View Of NYC's New Parapet Inspection Law

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    Building owners in New York City should be ready for the city's new parapet inspection requirements going into effect in January, which will likely necessitate additional construction work for countless buildings not previously subject to formal inspections, says Benjamin Fox Tracy at Braverman Greenspun.

  • AI Isn't The Wild West, So Prepare Now For Bias Risks

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    In addition to President Joe Biden's recent historic executive order on safe, secure and trustworthy artificial intelligence, there are existing federal and state laws prohibiting fraud, defamation and even discrimination, so companies considering using or developing AI should take steps to minimize legal and business risks, says civil rights attorney Farhana Khera.

  • AI's Baked-In Bias: What To Watch Out For

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    The federal AI executive order is a direct acknowledgment of the perils of inherent bias in artificial intelligence systems, and highlights the need for legal professionals to thoroughly vet AI systems, including data and sources, algorithms and AI training methods, and more, say Jonathan Hummel and Jonathan Talcott at Ballard Spahr.

  • Calif. Ruling May Open Bankruptcy Trustees To Tort Liability

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    In Martin v. Gladstone, a recent California appellate court decision, the application of tort concepts to bankruptcy trustees could pose a new concern for trustees and federal receivers when controlling and maintaining commercial property, says Jarrett Osborne-Revis at Buchalter.

  • 5th Circ. Ruling May Beget Fraud Jury Instruction Appeals

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    The Fifth Circuit’s recent U.S. v. Greenlaw decision, disapproving disjunctive fraudulent-intent jury instructions, will likely spawn appeals in mail, wire and securities fraud cases, but defendants must show that their deception furthered ends other than taking the victim's property, says Charles Fowler at McKool Smith.

  • Considerations For Navigating Mixed-Use Developments

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    As mixed-use developments continue to rise in popularity, developers considering this approach to urban planning must be aware of key considerations ranging from title and zoning laws to proper engagement with stakeholders, says Mehdi Sinaki at Michelman & Robinson.

  • 1st Tax Easement Convictions Will Likely Embolden DOJ, IRS

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    After recent convictions in the first criminal tax fraud trial over allegedly abusive syndicated conservation easements, the IRS and U.S. Department of Justice will likely pursue other promoters for similar alleged conspiracies — though one acquittal may help attorneys better evaluate their clients' exposure, say Bill Curtis and Lauren DeSantis-Then at Polsinelli.

  • How CRE Loans Would Shift Under New Bank Capital Rules

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    Attorneys at MoFo discuss how commercial real estate loans would fare under federal banking agencies' proposed changes to how large banks risk-weight loans, particularly how CRE loans are weighed based on the current standardized framework versus the proposed expanded approach.

  • Proactive Measures While NY Foreclosure Law Is In Limbo

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    While questions about the scope and constitutionality of New York's Foreclosure Abuse Prevention Act might not be resolved by courts for years, lenders, borrowers and other interested parties can take action to protect their rights and potentially expedite appellate review, say Allison Schoenthal and Andrew Kim at Goodwin.

  • EB-5 Investment Period Clarification Raises More Questions

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    U.S. Citizenship and Immigration Services' recent clarifying guidance for EB-5 investors, specifying that the statutory investment period begins two years from the date of investment, raises as many questions as it answers given related agency requirements and investors' potential contractual obligations, says Daniel Lundy at Klasko Immigration Law Partners.

  • How NY Residential Property Condition Disclosure Is Shifting

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    New York's recent significant amendments to the Property Condition Disclosure Act provide a new focus on the risk and damage from flooding, and the changes will affect the duties and standard of practice for real estate brokers, as well as liability and compliance for sellers and landlords, says Steven Ebert at Cassin & Cassin.