Back when this Blog was in its infancy our partner, Kristin Boose, reported on the then legislative environment relating to the Interstate Land Sales Full Disclosure Act of 1968. As many of you already know the Act is broad in its application and can be dangerous to a developer if not complied with to
Top 10 Things You Should Know About Historic Tax Credits
Earlier this fall, the National Park Service celebrated the 35th anniversary of the popular Federal Preservation Tax Incentives Program, which has helped in the preservation of historic structures across the U.S. and particularly in Ohio with its wealth of historic buildings. Because of the program’s numerous possible benefits and its important role in fueling
Foreign Investment in Real Estate May Become Easier !
Amendments to FIRPTA through H.R. 2870 (also known as the Foreign Investment in Real Property Tax Act of 2013) are being proposed in Congress and if approved by the President should increase foreign capital invested in U.S. Reits. H.R.2870 will permit the foreign ownership threshold of REITs subject to FIRPTA to increase from 5% to 10%.
Ohio Village Adopts State’s First “Community Bill of Rights” to Prevent Shale Development
Recently, the Yellow Springs Village Council voted to adopt a “Community Bill of Rights” ordinance banning shale gas drilling and related activities in the village. The Bill of Rights declares the fundamental rights of residents to clean air and water, and to protect the rights of nature.
Yellow Springs is the first municipality
Reminder: Statutes Require Residential Builders to Provide Certain Notice to Home Buyers
Ohio and Kentucky statutes require residential builders to provide certain notice to home buyers. While there is no new law on this, the construction attorneys of Ulmer & Berne LLP have seen this issue come to light many times this past year; thus, prompting this refresher alert on Ohio and Kentucky notice statutes.
Both Ohio and
Ohio Public Construction Reform – Update
New rules promulgated under Ohio’s Public Construction Reform (the “Reform”) have been released by the Joint Committee on Agency Rule Review. The new rules include: (1) Rules for Prequalification of Prospective Bidders on Subcontracts; (2) Rules for Best Value Selection of Construction Manager and Design-Build firms; and (3) Rules for the Form
Until Death Do Us Part
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:
Ohio’s Public Construction Reform to Take Effect, In Part, September 28, 2011
The Ohio Legislature passed House Bill 153 on May 5, 2011. H.B. 153—a budget bill—which includes significant changes for Ohio’s public construction projects. Some changes will become effective on September 28, 2011, but others are forecast to become effective in early 2012. As such, we will have to wait a while longer to experience the full effect
Change the Locks !!!!
The Illinois General Assembly has recently amended the Landlord and Tenant Act to add a new requirement for landlords: when a unit changes over to a new tenant the locks must be changed or rekeyed. This applies to dwelling units only. The Act is not applicable for dwelling units in a building of 4
Sales Tax Alert
The Ohio Department of Taxation has been enforcing the obligation to pay sales taxes by contractors and property managers for services received when the invoices do not separately identify sales tax as a specific line item. Look at all of the invoices received for any services contracted for and make sure that sales taxes are