News & Analysis as of

Real Estate Transactions State and Local Government

Steptoe & Johnson PLLC

Standard Versus Enhanced Exemptions Understanding the City of Pittsburgh's Proposed LERTA Exemption Ordinance

The City of Pittsburgh, in an attempt to stem the tide of collapsing real estate tax revenues from downtown Pittsburgh commercial properties, is on the verge of passing an ordinance creating a tax exemption authorized by...more

Sheppard Mullin Richter & Hampton LLP

Kentucky Restricts Marketing for Non-Bank Entities and Provides Clarity in Residential Real Estate Transactions

On April 4, Kentucky enacted HB 88, which will amend laws related to unlawful trade practices, and prohibit entities that are not banks or trust companies from: - suggesting that they are engaged in banking or trust...more

Steptoe & Johnson PLLC

Oklahoma Limits Foreign Property Ownership, Requires Affidavit of Compliance for Deeds

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On November 1, 2023, a statutory amendment went into effect in Oklahoma which requires an affidavit be completed and attached as an exhibit to all deeds filed for record in any county in the state certifying compliance with...more

Ballard Spahr LLP

Five Things Every Office Building Owner (and Its Lender) Should Consider

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The drumbeat of the challenges facing almost every corner of the office building market should be loud and clear to owners and lenders. For some, the current situation is dire, while for others it will likely worsen in the...more

Seyfarth Shaw LLP

Recordation and Transfer Tax Changes in Maryland and the District of Columbia

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Seyfarth Synopsis: Montgomery and Anne Arundel Counties in Maryland are increasing their recordation and transfer taxes, while 2019 increases to recordation and transfer taxes in the District of Columbia are set to expire....more

Perkins Coie

San Francisco Adopts Ordinance To Facilitate the Conversion of Office Buildings to Housing

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In downtown San Francisco, office vacancy has skyrocketed as hybrid work has transformed the way in which employers and employees use office space. This, in turn, has decreased activity downtown, negatively impacting the...more

Butler Snow LLP

General Assembly of Georgia Legislative Changes Impacting Public Works Contracts – 2022 Pt 2

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During the 2022 Regular Session of the General Assembly of Georgia, the Legislature enacted legislation that impacts zoning and real estate recording...more

Sands Anderson PC

Reasons Why a Real Estate Transaction with a Local Government May Take So Long

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When an Industrial Development Authority, sometimes called an Economic Development Authority (IDA/EDA), purchases or sells real property, the transactions look much like any transaction with any other entity landowner....more

Patton Sullivan Brodehl LLP

Deed Language Defines the Scope of a Reserved Easement

Under California law, a grant deed is generally understood to transfer the entire fee title interest in real property, unless it expressly states otherwise.  (See, e.g., Civil Code sections 1105 and 1113.) If the seller wants...more

Lowndes

Property Buyer Beware: Avoid Costly Tax Liabilities with a Sales Tax Clearance Letter

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Florida imposes sales tax on rent payable under commercial leases. The rate imposed by the state is 5.5%, but local governments have the right to impose a surtax which varies based on the jurisdiction....more

Stoel Rives LLP

After Passage of Prop 19, Consider Transferring California Real Property to Avoid Property Tax Reassessment

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Californians have voted to implement Proposition 19, a ballot measure that significantly narrows the parent-child property tax exemption allowing transfers of real property between parents and children without a reassessment...more

Pullman & Comley, LLC

The Connecticut General Assembly Puts the First Nail in the Transfer Act’s Coffin: Connecticut to Adopt New Release-Based...

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The General Assembly gave Connecticut an early Halloween present during the first week of October when both houses of the legislature passed H.B. 7001, An Act Revising Provisions of the Transfer Act and Authorizing the...more

Williams Mullen

Williams Mullen's COVID-19 Comeback Plan: Tips for Virginia Real Estate Assessment Appeals in a COVID-19 Environment

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Litigation partner Shane Smith gives tips for protecting and improving your real estate assessment appeal rights and options in Virginia....more

Ballard Spahr LLP

Howard County, MD, Expands ROFR Requirements for Multifamily Sales

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The Howard County, Maryland, Council passed Bill 13-2020—the Affordable Housing Retention Act—last week. This legislation provides the County and the Howard County Housing Commission with the right to purchase rental housing...more

Burr & Forman

South Carolina Property Tax Exemptions: Useful Tips for Buyers New to South Carolina

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This article is to provide information on a little known tax exemption (“6% Exemption”) applicable to real property currently taxed at the 6% tax rate, a tax rate applicable to second homes, rentals and commercial...more

Ballard Spahr LLP

UPDATE: E-Signatures and Remote Online Notarization

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E-Signatures and Remote Online Notarization: The Uniform Electronic Transactions Act (“UETA”) proposed by the Uniform Law Commission (“ULC”) in 1999 presented ways for states to effectuate electronic signatures with the...more

Dentons

Navigating the Fair Housing Act and Iowa Landlord-Tenant Law during COVID-19

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In light of COVID-19, landlords, property managers, homeowners’ associations, and others in the business of renting or selling residential properties are in uncharted territory. Landlords are asking what can and should be...more

Pierce Atwood LLP

COVID-19: Maine DECD Issues New Statewide Guidance on Real Estate Activities

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On April 15, 2020 the Maine Department of Economic and Community Development (DECD) released new guidance for its previous determination that real estate activities are an “essential business” during the stay-at-home order...more

Goodwin

Financial Services Weekly Roundup: Priming The Pump – Additional Actions To Combat COVID-19

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Priming the Pump. As the COVID-19 outbreak continues, the Board of Governors of the Federal Reserve System (Federal Reserve), consistent with the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), took additional...more

Ballard Spahr LLP

NMLS Reinstatement Period Now Open Through February 29

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The NMLS Reinstatement Period began on January 2, 2020, and will end on February 29, 2020. This period allows individuals and companies that failed to renew their licenses by December 31 to request renewal. ...more

Carlton Fields

Changes to Florida Notarization Statutes Effective January 1, 2020

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Effective January 1, Florida's notary laws are changing. In general terms, remote notarization will now be permitted, meaning that if certain criteria are met and the statutory protections are in place, the notary will no...more

Ballard Spahr LLP

CT Law Requires CT Attorney to Conduct Certain Mortgage Closings

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Public Act No. 19-88 requires an attorney admitted in Connecticut in good standing to “conduct” a “real estate closing.” It takes effect October 1, 2019. The term “conduct” is not defined. A “real estate closing” includes a...more

Seyfarth Shaw LLP

DC Recordation and Transfer Taxes Skyrocketing for Commercial Properties

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As has been announced, the cost of real estate transactions involving commercial property located in the District of Columbia will increase significantly as of October 1, 2019, but not necessarily for multifamily properties....more

Perkins Coie

All San Francisco Multi-Family Buildings and Sites Subject to New Sales Regulations

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Effective June 2, 2019, San Francisco has enacted the “Community Opportunity to Purchase Act” or COPA (codified as San Francisco Administrative Code, Section 41.B.1 through Section 41.B.14). Recognizing the housing crisis...more

Coblentz Patch Duffy & Bass

Sellers Beware? San Francisco Adopts Community Opportunity to Purchase Act for Multifamily Properties

Owners of multifamily residential properties in San Francisco will soon have to extend purchase offers to certain nonprofit organizations, before making or soliciting offers to sell those properties to anyone else—and will...more

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