Real Estate Advisor Law Blog

Real Estate Advisor Law Blog

Category Archives: Conveyancing

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Fraudulent Transfer Litigation – The Eleventh Circuit Court of Appeals Deals a Blow to Lenders

Posted in Bankruptcy/Creditor's Rights Issues, Conveyancing
 A highly significant ruling involving fraudulent transfers recently decided by the Eleventh Circuit could have a far-reaching impact on distressed lending and investing.   In Senior Transeastern Lenders v. Official Committee of Unsecured Creditors (In re TOUSA, Inc.), 2012 WL 1673901 (11th Cir. May 15, 2012), the Eleventh Circuit Court of Appeals reversed the district court and… Continue Reading

Until Death Do Us Part

Posted in Conveyancing, Legislative Update
Commencing January 1, 2012, legal, real estate and insurance professionals will be required to advise clients of KRS 381.280 which creates a forfeiture of property rights for the taking of the life of a party in interest to the same prior to such parties executing deeds and other documents in question. It works like this:… Continue Reading

2011: Year of the Hotel ?

Posted in Conveyancing, General Business Issues
Jones Lang LaSalle seems to think so.  We hope that they are right.  As reported by Bloomberg JLL is forecasting a 25% increase in hotel/hospitality industry activity in the 2011.  The drivers are REIT money and foreign investors looking for investments which can still be acquired at reasonable discounts while the U.S. economy recovers from its… Continue Reading

Buy Swampland in Florida? Or, just a Bad Case of Buyer’s Remorse? Discontent with Interstate Land Sales Full Disclosure Act

Posted in Conveyancing, Development Issues, Interstate Land Sales Full Disclosure Act, Legislative Update
     “I have some prime swampland in Florida to sell you” is a slang expression used to poke fun at the gullibility of a person. This saying is based on events of the 1960s and 1970s where local scammers would attempt to induce out of state purchasers to acquire “lucrative” land which, in reality,… Continue Reading

First-Time Homebuyer Temporary Federal Tax Credit Extended and Expanded

Posted in Closing/Settlement Issues, Conveyancing, Finance Issues, Tax Credit Issues
On November 6, 2009, President Obama signed the Worker, Homeownership and Business Assistance Act of 2009. The new law extends the first-time homebuyer temporary federal tax credit for qualifying home purchases to April 30, 2010 and expands the eligibility requirements for purchasers. Under the new law an eligible taxpayer must buy, or enter into a binding… Continue Reading

The Dreaded Transfer on Death Deed

Posted in Conveyancing, Legislative Update
Ohio’s Transfer on Death Statute became effective at the beginning of 2002. Prior to the law being passed, there was much buzz in the real estate and trusts and estates legal community about why Ohio did not have a vehicle permitting owners of real estate to transfer real property on death to a named beneficiary, thereby… Continue Reading

Combating Mortgage Fraud

Posted in Closing/Settlement Issues, Conveyancing, Legislative Update
Effective June 1, 2009 all residential properties (single family homes, condominium units and buildings with up to four units) in Cook County, Illinois will become subject to the amendments to the Illinois Notary Public Act contained in Illinois Public Act 095-0988 (the "Act") in an effort to combat mortgage fraud in Illinois residential real estate transactions.  The practical… Continue Reading