The Suffolk County Clerk has issued the attached memo regarding a decrease in the fee for the Real Property Tax Service Agency Mortgage Verification Fee. The fee has decreased from $300 to $200 effective May 28, 2019. To view the memo, click here. As always, if you have any questions about Title Insurance or if […]
Current Developments is a seasonal newsletter provided by First American Title Insurance Company to its agents, covering the latest developments in the state of New York. We would like to share this information with you, so that you can better serve your clients. Some of the topics covered in this newsletter include: Adjoining Owners/Licenses Adjoining […]
Co-Insurer of $1 Billion Refinance of a multi-state 93 property hotel portfolio. Closed May, 2019.
$17 Million Acquisition of a Hotel in Essex County, NJ. Closed in April 2019.
$6.6 Million Refinance of Commercial Property in California. Closed in April 2019.
$24.5 Million Refinance of a Commercial Building in Bergen County, NJ. Closed in April, 2019.
$14 Million Refinance of a Shopping Center in Essex County, NJ. Closed in March 2019.
$6 Million Refinance of a Shopping Center in Monmouth County, NJ. Closed in March 2019.
Current Developments Special Edition Newsletter is provided by First American Title Insurance Company to its agents, covering the latest developments in the state of New York. We would like to share this information with you, so that you can better serve your clients. The topic covered in the special edition newsletter is the Transfer Tax […]
Effective April 1, 2019, the rate of tax imposed on the recording of mortgages on real property located in Essex, Greene, and Warren Counties for each $100.00 secured by the mortgage is $1.25 (1 ¼%). Effective May 1, 2019, the rate of tax imposed on the recording of mortgages on real property located in Cattaraugus County […]
The 2020 New York State Budget Bill includes increases to the New York State Transfer and Mansion taxes, which affect real property in New York City as well as any other city in New York State with populations of one million or more. In addition to the $2.00 per $500.00 of consideration (or fraction part […]
Title Talk is a seasonal newsletter provided by the Fidelity National Title Group to its agents, covering the latest developments in the state of New Jersey. We would like to share this information with you, so that you can better serve your clients. Some of the recent developments covered in this newsletter include: Rating Bureau […]
Current Developments is a seasonal newsletter provided by First American Title Insurance Company to its agents, covering the latest developments in the state of New York. We would like to share this information with you, so that you can better serve your clients. Some of the topics covered in this newsletter include: Brokers/Fiduciary Duty Condominiums […]
$17.35 Million Acquisition of a Hotel in Clark County Nevada. Closed in March 2019.
$4.3 Million Refinance of an Apartment in Manhattan. Closed in February 2019.
$8.4 Million Refinance of an Apartment Building in Manhattan. Closed in February 2019.
$11.4 Million Refinance of a Hotel in Lake County, Illinois. Closed in February, 2019.
Current Developments is a seasonal newsletter provided by First American Title Insurance Company to its agents, covering the latest developments in the state of New York. We would like to share this information with you, so that you can better serve your clients. Some of the topics covered in this newsletter include: Adjoining Owner/License […]
$64 Million Purchase of Penthouse in Manhattan. Closed in January 2019. This 520 Park pad just closed for $64M
$14 Million Refinance of a Commercial Building in Fulton County, Georgia. Closed in January 2019.
$17.1 Million Acquisition of a Hotel in Lake County, Illinois. Closed December 2018.
$18 Million Refinance of a Hotel in Mercer County, NJ. Closed in December 2018.
ETHICS OPINION 1161 New York State Bar Association Committee on Professional Ethics Opinion No. 1161 [Inquiry No. 14-18] TOPIC: Confidential Information: Lawyer’s duty to preserve and to make adequate disclosure in seeking client consent to disclosure DIGEST: When a lawyer rather than a broker prepares a real estate contract, the lawyer may not disclose the […]
$11.25 Million Refinance of an Apartment Building in Brooklyn, NY. Closed in December 2018.
$8 Million Refinance of an Apartment Building in Brooklyn, NY. Closed in December, 2018.
Purpose: To provide guidance and establish requirements for transactions involving vacant and abandoned properties that are subject to possible registration fees imposed by the municipality. Background: The Abandoned Properties Rehabilitation Act, N.J.S.A. 55:19-78, and N.J.S.A. 55:19-55 permit municipalities to identify and take action against vacant and abandoned properties. Additionally, N.J.S.A. 46:10B-51 requires lenders to notify […]
$8.5 Million Refinance of a Commercial Building in Essex County, NJ. Closed December 2018.
$17 Million Acquisition of Hotel in Union County, NJ. Closed November, 2018
Title Talk is a seasonal newsletter provided by the Fidelity National Title Group to its agents, covering the latest developments in the state of New Jersey. We would like to share this information with you, so that you can better serve your clients. Some of the recent legal developments covered in this newsletter include: Title […]
Current Developments is a seasonal newsletter provided by First American Title Insurance Company to its agents, covering the latest developments in the state of New York. We would like to share this information with you, so that you can better serve your clients. Some of the topics covered in this newsletter include: Adverse Possession Contracts […]
This bulletin is continuing guidance on the FinCEN Geographic Targeting Orders (GTO) which were issued to all title insurance underwriters. A New GTO has been issued, extending the effective date of the reporting requirement to May 15, 2019. As a reminder, the GTO has defined a covered business to include title insurance underwriters, its employees […]
$10.5 Million Acquisition of Commercial Building in Hudson County, NJ. Closed October, 2018.
Changes have been made to the New Jersey GIT/REP-1 Nonresident Seller’s Tax Declaration and GIT/REP-2 Nonresident Seller’s Tax Prepayment Receipt. Please take the opportunity to familiarize yourself with the new forms. The highest Gross Income Tax rate was changed from 8.97% to 10.75%. Current versions of these forms and all other New Jersey tax forms […]
$650 Million Refinance of a 53-hotel national portfolio. Closed October 2018
$8.4 Million Acquisition of Industrial Building in Lehigh County, PA. Closed September, 2018
$29.7 Million Acquisition of Property for development of Assisted Living Facilities in New Jersey. Closed September, 2018.
$25.9 Million Refinance of Commercial Building in Columbia, SC. Closed September, 2018.
$14.4 Million Refinance of a Hotel in Philadelphia PA. Closed July 2018.
$14.4 Million Leasehold for New Construction of Housing for Homeless in Somerset County NJ. Closed August 2018.
$6.6 Million Acquisition of Apartment Building in Essex County, NJ. Closed August 2018
$10 Million Refinance of Warehouse in Cecil County Maryland. Closed August 2018.
$8.1 Million Acquisition of Industrial Building in Union County, PA. Closed September 2018.
$89 Million Acquisition of Commercial Building in Manhattan. Closed June 2018.
$14.5 Million Refinance of Industrial Property in Wood County, Ohio. Closed June 2018.
$37.7 Million Purchase of Penthouse in Manhattan. Closed in October, 2017.
$91 Million Purchase of Apartment in Manhattan. Most expensive apartment sold in Manhattan in 2017. Closed in December, 2017.
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We have become aware of a new trend regarding municipal fees being assessed against vacant properties during foreclosure. On July 14, 2014, N.J.S.A. 46:10B-51 was amended to allow municipalities to enact local ordinances that impose penalties on mortgage lenders who fail to remedy municipal ordinance violations on vacant or abandoned property during a foreclosure action. […]
We have been alerted that a new Financial Crimes Enforcement Network (FinCEN) Geographic Targeting Order (GTO) has been issued. The new Order extends reporting requirements that occur from September 22, 2017, until March 20, 2018, and expands the covered transactions to include the City and County of Honolulu, Hawaii. The new Order also adds wire […]
