Residential

Expert Analysis

• Steps To Success For Senior Associates

  Excerpt from Practical Guidance

  

  Adriana Paris at Rissman Barrett discusses the increased responsibilities and opportunities that becoming a senior associate brings and what attorneys in this role should prioritize to flourish in this stressful but rewarding next level in their careers.

• Ohio Tax Talk: Building On Federal Affordable Housing Credit

  

  Ohio's soon-to-be-implemented low-income housing tax credit could significantly affect the state's affordable housing landscape and influence tax-credit deal financing for these projects, though Senate changes may have dampened the new credit's immense potential, say Raghav Agnihotri and Rachael Chamberlain at Frost Brown.

• LA's High-Value Real Estate Transfer Tax Should Be Scrapped

  

  Los Angeles’ recently implemented high-value property transfer tax has chilled the real estate market, is failing to meet revenue expectations and raises significant constitutional concerns, making it a flawed piece of legislation that should be invalidated, says attorney Paul Weinberg.

• Foreign Investment In Real Estate Is Getting More Complicated

  

  Increasing federal scrutiny and a proliferation of new state laws targeting foreign investment in real estate may complicate or prevent transactions even by U.S. companies or funds that have shareholders or limited partners from China and other countries of concern, say attorneys at Akin.

• Home Equity Option Contracts Appear Ripe For Rating

  

  Given that home equity option contracts share similarities with evolving asset types like litigation funding, and that courts continue to characterize them as real estate option contracts, it seems they are poised to be rated in the near future, say Darius Horton and Holly Spencer Bunting at Mayer Brown.

• 2 Critical Shortfalls In Fla. Condo Safety Amendments

  

  New amendments to Florida's Building Safety Act provide condominium associations with more flexibility to comply with inspection deadlines, but vaguely defined extension criteria and unambiguous lines of responsibility warrant further legislative action, say Jordan Isrow and Andrew Ingber at Government Law Group.

• Justices' Minn. Takings Ruling May Have Broad Impact

  

  The U.S. Supreme Court's decision in Tyler v. Hennepin County that a Minnesota tax foreclosure violated the U.S. Constitution's takings clause may, beyond resolving a circuit split, influence well-established foreclosure laws across the U.S., say Emily Ladd and Gregory Nowak at Miller Canfield.

• Challenging Standing In Antitrust Class Actions: Rule 23

  

  A recent Sixth Circuit decision in Fox v. Saginaw County that rejected the common attempt to use Rule 23 to sidestep Article III's standing limitations shows antitrust defendants' success in challenging standing will rest on happenstance without more clarity from the Supreme Court — which no litigant should be comfortable with, say Michael Hamburger and Holly Tao at White & Case.

• Key Limited Partnership Provisions During Market Downturns

  

  With a recession potentially on the horizon, fund managers should carefully examine their funds' limited partnership agreements for items that may be affected by economic downturns, and assess whether modifications may be appropriate, says Matthew Posthuma at Ropes & Gray.

• Fla. Foreign Real Estate Law Brings Broad Investment Risks

  

  Last month, Florida became the latest state to enact legislation prohibiting Chinese investors from acquiring certain interests in real property, introducing significant legal uncertainty and consequences for real estate stakeholders and the private equity industry, say attorneys at Simpson Thacher.

• Banking Tips For Lending To Calif. Homeowners Associations

  

  With current financial markets and recent changes to California law putting a brighter spotlight on lending, banks should understand the special considerations involved in lending to homeowners associations and the various possible remedies in the event of a default, says Alex Grigorians at Hanson Bridgett.

• How Rent Proposals May Affect Most Populous Md. County

  

  Of the various legislative changes concerning rent controls and property taxes that are being considered in Montgomery County, Maryland, comparatively milder controls are likely to prevail, but even these lenient measures may make it more difficult for the county to fulfill its needs for new housing, says Michael Murray at Greysteel.

• Texas Justices' PNC Opinion Clarifies Subrogation Questions

  

  Thanks to the sorely needed clarification provided by the Texas Supreme Court in PNC Mortgage v. Howard, a home equity lender now has a better understanding of what it can do when its own lien is constitutionally invalid but is either equitably or contractually subrogated to a prior lien, say Daron Janis and Dave Foster at Locke Lord.