Businesses and residents in Boone County should be aware that the Boone County Fiscal Court appears likely to pass an ordinance creating a code enforcement board in 2016. The Board would be in charge of issuing fines related to violations of the Boone County code of zoning ordinances and it would have authority to hear Read More
DBL Law, a mid-size full-service law firm with multiple locations, is seeking a Construction Law Associate Attorney to join their downtown Cincinnati office immediately. Applicants should have 3+ years’ experience in the areas of construction and design law with a background in commercial real estate transactions. Experience should include drafting and revising commercial contract documents, Read More
The Consumer Financial Protection Bureau (CFPB) ordered a Connecticut mortgage lender, 1st Alliance Lending, LLC (First Alliance), to pay an $83,000 civil money penalty for violating federal law by illegally splitting real estate settlement fees.
It is all too easy to toss aside a commercial real estate purchase agreement once signed. However, it is important for the purchaser of commercial real estate to be aware of the terms of the agreement. One of the most critical terms is the deadline by which the purchaser must complete its due diligence for the property.
It is all too easy to toss aside a commercial real estate purchase agreement once signed. However, it is important for the purchaser of commercial real estate purchasers to be aware of the terms of the agreement. One of the most critical terms is the deadline by which the purchaser must complete its due diligence for the property.
Effective this Spring, new rules under the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank) will significantly impact guaranty agreements in loans that involve “swap” agreements. The new rules interpret a swap agreement under Dodd-Frank to include any guarantee of a swap agreement. As a result, guaranty agreements will be subject to the rules and penalties set forth in Dodd-Frank and its regulations.
Urban Revitalization and Municipal Economic Development Incentives provide intriguing opportunities to urban minded developers and entrepreneurs.
The continued volatility in real estate presents an opportunity for property owners to reduce their real estate taxes with the local government by seeking to revise their property valuations. Whether the real estate is commercial or residential, overvalued real estate can significantly increase a property owner’s tax liability.
Real estate law and real estate transactions in the United States have been subject to state regulations and county-level recordation requirements since the country’s founding. As such, every time a financial instrument containing mortgages is sold, various state laws require that the sale of each such mortgage (or deed of trust) be recorded in the local county courts in order to preserve certain rights. These requirements also trigger obligations to pay corresponding recording fees.
There are many reasons why it is important for a real estate owner and mortgage lender to purchase title insurance. Title insurance protects owners and lenders from hidden hazards resulting from liens, encumbrances and defects in the title to the property. These hidden hazards threaten the investment in the real estate, which oftentimes is substantial.
A recent lawsuit in Ohio provides a reminder about the importance of properly executed notary clauses and exercising caution when using “stand-alone signature pages.” The lawsuit involves two companies which failed to make payments on a multi-million dollar promissory note. Ultimately, the lender obtained a judgment for a loan default against the borrowing companies.
With outdated condominium laws that lacked consistency in governance, Kentucky legislators recently passed the new Kentucky Condominium Act (KCA). The KCA goes into effect January 1, 2011 and will provide a lot more direction for condo associations and developers. This post provides a summary of the KCA and its implications for condominium stakeholders.
This week Old Republic Title Insurance Company announced that it would no longer insure foreclosed homes. This was in response to several large mortgage companies suspending foreclosures while irregularities in foreclosure filings are being investigated.
Since 2008, the commercial real estate market has been challenging for all involved. Although we are not completely past the turbulence, we are beginning to see more stability on the horizon.
The Great Recession continues to take its toll on our Nation. Many leading business journals predict continuing losses in the commercial real estate market. Although it is hard to see any bright side to this domino’s fall, there is one practical step that owners can take to mitigate the damage – appeal their tax bill. Read More
Introducing Excel Title Services – a full-service company meeting your changing needs for commercial real estate titles. In the current dynamic real estate market, you need an experienced and professional title company to protect your real estate investment and coordinate your title needs. Excel Title Services is the clear choice to meet the full range Read More
The good news is that lenders are beginning to make commercial real estate loans again. The bad news—lending standards are strict. Only the most credit-worthy borrowers will qualify for these loans for the foreseeable future. Required Equity Contributions and Higher Interest Rates Your first hurdle is to determine how much equity you will contribute. In Read More
A mechanic’s lien filed against a private construction project in Kentucky has many undesirable effects. It will cloud title to the property and interrupt financing for the project, if you are the owner. If a lien is filed by a subcontractor, it will likely result in the owner freezing payments to the general contractor. Making Read More
Courts across the country are increasingly denying policyholders coverage for construction defect claims. Construction companies need to ensure that their policies sufficiently protect them against construction defects claims. Often, defects can result in multi-million dollar claims. Without appropriate coverage, a company risks paying for such claims, or at least a substantial part of the claim, Read More
More and more people are purchasing second homes, many of which are located in states other than the state of their primary residence. In addition, many people are buying second homes jointly with friends and family in order to both share the cost and more fully utilize the second home. When purchasing a second home Read More