Residential

Expert Analysis

• How NYC Consumer Bill Could Expand Private Claims

  

  New York City's proposed Power Act could expose companies to sweeping private claims under its prohibition on unfair, deceptive, and abusive acts and practices, making regulatory compliance reviews and litigation-risk planning essential for businesses serving city residents, says Brian Turetsky at Hinshaw.

• 6 Ways RE Projects Can Balance Campus, Commercial Needs

  

  Recent mixed-use campus developments show that housing, research, hospitality, retail and recreation can share infrastructure and institutional identity while operating under diverse requirements, as long as the underlying agreement structures are carefully thought out and drafted, says Bob Burton at Winstead.

• How Shift In Ohio Foreclosure Appeals Alters Lenders' Risk

  

  In a series of recent decisions, the Ohio Supreme Court changed who bears the risk of an erroneous foreclosure judgment while an appeal is pending, which means lenders should now budget for merits briefing, and underwriters should expect indemnity and escrow demands, says Terry Posey at Porter Wright.

• Preventing HOA Bias After Wash. Ruling Highlights Risk

  

  Because homeowners nationwide can now draw on precedent from a recent Washington state appellate decision holding that state antidiscrimination law forbids homeowners associations from biased enforcement of their rules, common-interest communities should immediately work to mitigate their expanded exposure to postsale fair housing liability, says Brett Sullivan at Fennemore.

• CFIUS Annual Report Reveals Enforcement Trends

  

  The Committee on Foreign Investment in the United States' recently published annual report to Congress shows that it is increasingly focused on nonnotified transactions, mandatory filing compliance, critical technologies and postclosing mitigation enforcement across the full life cycle transactions, say attorneys at Bass Berry.

• Calif. Decision Shows Limits Of Self-Serving Testimony

  

  A California appellate court's recent opinion in a dispute between two home renovation partners is a reminder that where there are admissions or undisputed documentary evidence, litigants need more than self-serving testimony to overcome summary judgment, says Tyler Palmer at Tucker Ellis.

• Illinois Banking Brief: All The Notable Legal Updates In Q3

  

  Recent banking developments in Illinois include significant new consumer protection legislation, three meaningful Seventh Circuit decisions, and a high-profile constitutional challenge to the state's new digital asset tax, say attorneys at Barnes & Thornburg.

• Foreclosure May Not Be The Fix For Distressed Office Loans

  

  Recently declining office values show that distressed borrowers and lenders should consider negotiated workouts, tax planning and value-preserving leasing strategies as refinancing gaps and special-servicing constraints make foreclosure an increasingly costly last resort, says Howard Koh at Meister Seelig.

• 3 Illinois Updates That Bolster Mortgage Lender Enforcement

  

  Illinois lenders can use clarifications from recent legislative and judicial developments — a law defining the limitations period for home equity loans and two rulings on quiet title actions and lien expirations during foreclosures — to sharpen their enforcement tools and better protect their mortgage rights, says Stephanie Mulcahy at Hinshaw.

• Mich. Banking Brief: All The Notable Legal Updates In Q3

  

  We are at an inflection point for Michigan financial services law, with a state Supreme Court decision recently overruling more than 25 years of precedent on the Michigan Consumer Protection Act, and pending legislation that could significantly shift the regulatory landscape, say attorneys and advisers at Dykema.

• Florida Condo Ruling Offers Tips For Contractor Lien Disputes

  

  A recent Florida appellate decision, holding condo owners may challenge liens placed on their units, despite not being party to the underlying disputed agreement their association struck with contractors, offers lessons on lien enforcement to both contractors and condo owners, say attorneys at Adams & Reese.

• Wis. Coverage Ruling Rejects Strict Ensuing Loss Test

  

  In Cincinnati Insurance v. Ropicky, the Wisconsin Supreme Court recently examined the relationship between an insurance policy's construction defect exclusion and ensuing loss exception, providing policyholders support in claiming that an additional cause may produce covered damage despite an excluded condition being part of the loss sequence, says Alexander Hopkins at SDV Fenchurch.

• Planning For The Impact Of FinCEN's CTA Rollback

  

  The Financial Crimes Enforcement Network's recent rollback of Corporate Transparency Act reporting obligations should reduce compliance costs, but its plans to revisit customer due diligence rules should prompt companies and financial institutions to reassess state beneficial ownership programs, say attorneys at Sidley.