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Real Estate Article: Commercial Mortgage Foreclosures
Below is an article written by Michael Yellin for the New Jersey Law Journal. Yellin is a member in the Litigation Department and Real Estate Special Opportunities Group at Cole Schotz in Hackensack. Issues Plaintiff Must Consider Before Resolving a Commercial Foreclosure Action There are five financial issues that every plaintiff must consider before resolving…
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NJ CLE Seminar on Top 10 Land Use Cases of 2015 and Ethics 101: An Update
NJ CLE Seminar on: Top 10 Land Use Cases of 2015 and Ethics 101: An Update When and Where: Tuesday, April 12, 2016 8:00-8:30am – Registration 8:30-10:30am – Presentations and Discussion Investors Bank Conference Center 193 Morris Avenue Springfield, NJ 07081 Please join us for a valuable 2 credit NJ CLE seminar. The first…
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FinCEN Geographic Targeting Order for Manhattan
Below is a bulletin we received from First American Title Insurance Company. However, the Geographic Targeting Order affects all title insurance underwriters and issuing title agents who close residential real estate transactions in Manhattan. The new regulatory rules and requirements will impact you as a closing attorney, so please review the below and become familiar…
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Suffolk County Verification Fee Increase Effective December 18, 2015
Suffolk County Verification Fee to increase on December 18, 2015 This bulletin is to advise that Local Law 34-2015 was enacted which increases the Real Property Tax Service Agency verification fee to $200.00 for each lot verified. Additionally, there will continue to be no maximum fee. All documents presented or re-presented for verification to the Real Property…
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Recent Case of Interest for Real Estate Lawyers
Voluntary Payment Doctrine Precluded Lawsuit DRMAK Realty LLC v. Progressive Credit Union, 2015 N.Y. Slip Op. 08044, 1st Dept 11-5-15 The First Department, over a dissent, determined plaintiff’s (Klein’s) complaint alleging breach of contract, fraud, violation of General Business Law, etc., was properly dismissed pursuant to the voluntary payment doctrine. Klein procured a multi-million dollar loan from defendant. After…
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Countdown to Changes in the Mortgage Disclosure Rule Effective 10/3/15 – CFPB Update #8
What are the New Forms Effective October 3, 2015? CB Title is committed to providing you with training and reference materials related to the new regulations and forms coming October 3rd. Please see below a refresher of our series of informational bulletins about the new CFPB forms. On November 20, 2013, the CFPB announced the…
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Countdown to Changes in the Mortgage Disclosure Rule Effective 10/3/15 – CFPB Update #7
New Disclosure Form Rules Become Effective October 3, 2015 CB Title is committed to providing you with training and reference materials related to the new regulations and forms coming October 3rd. Please see below a refresher of our series of informational bulletins about the new CFPB forms. WHAT: Changes to the Loan and Settlement Disclosure forms and…
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Title Talk – Summer 2015
Title Talk – Summer 2015 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…
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Basics for the Integrated Mortgage Disclosure Rule Implementation Date Changed To 10/3/15 – CFPB Update #6
CFPB Final Ruling Moves TRID Implementation Date to October 3, 2015 CB Title is committed to providing you with training and reference materials related to the new regulations and forms coming October 3, 2015. Please see below for our sixth in a series of informational bulletins about the new CFPB regulations. The Consumer Financial…
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Basics for the Integrated Mortgage Disclosure Rule Implementation Date Tentatively Changed To 10/1/15 – CFPB Update #5
CFPB Proposes Delay to TRID Implementation Date CB Title is committed to providing you with training and reference materials related to the new regulations and forms coming October 1, 2015*. Please see below for our fifth in a series of informational bulletins about the new CFPB regulations. *The CFPB announced (June 17, 2015) that it…
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Basics for the Integrated Mortgage Disclosure Rule Changes Effective 8/1/15 – CFPB Update #4
TOLERANCE LEVELS UNDER THE NEW CFPB REGULATIONS CB Title is committed to providing you with training and reference materials related to the new regulations and forms coming August 1st. Please see below for our fourth in a series of informational bulletins about the new CFPB regulations. The concept of “tolerance levels” was introduced with the…
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Basics for the Integrated Mortgage Disclosure Rule Changes Effective 8/1/15 – CFPB Update #3
THE EFFECT OF THE NEW LENDING DISCLOSURE TIMELINE ON SCHEDULING CLOSINGS CB Title is committed to providing you with training and reference materials related to the new regulations and forms coming August 1st. Please see below for our third in a series of informational bulletins about the new CFPB forms. As part of the new…
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Basics for the Integrated Mortgage Disclosure Rule Changes Effective 8/1/15 – CFPB Update #2
WHAT ARE THE NEW FORMS BEING INTRODUCED? CB Title is committed to providing you with training and reference materials related to the new regulations and forms coming August 1st. Please see below for our second in a series of informational bulletins about the new CFPB forms. On November 20, 2013 the CFPB announced the completion…
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Basics for the Integrated Mortgage Disclosure Rule Changes Effective 8/1/15 – CFPB Update #1
New Disclosure Form Rules Become Effective August 1, 2015 CB Title is committed to providing you with training and reference materials related to the new regulations and forms coming August 1st. Please see below for our first in a series of informational bulletins about the new CFPB forms. WHAT: Changes to the Loan and Settlement Disclosure forms…
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NY Bulletin – ACRIS Tax Form Changes Effective 5/18/15
ACRIS Tax Form Creation Changes Effective May 18, 2015 Advisory: Effective May 18, 2015, the NYC-RPT form will be revised to include two additional GRANTOR and GRANTEE types: Single Member LLC Multiple Member LLC For any grantor and grantee that is a partnership or a multiple member LLC, the revised form will request the name…
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Denial of Realty Transfer Fee Exemption for Fannie Mae and Freddie Mae
Information on Denial of Realty Transfer Fee Exemption for Fannie Mae and Freddie Mac transactions in New Jersey
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New York Exceptions to Lands Adjoining a Body of Water
Title Exemptions for Lands in New York Adajacent to Water Bodies
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Recent Case of Interest for Real Estate Lawyers
COMMERCIAL LAW. CONTRACTS. SPECIFIC PERFORMANCE. PLEADINGS. Plaintiff, a corporation, brought an action for specific performance of a $2.2 million contract to purchase two mortgage loans from the defendant LLC. In moving to dismiss for failure to state a cause of action based upon documentary evidence, the defendant contended that no binding contract was formed because…
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New Legal Risks for Co-op Boards – NYC
A recent New York State appellate court decision could have ramifications for co-op and condo board members. The decision was handed down making it easier for individual board members to be litigated as individuals by unhappy apartment applicants, renters and owners. The unanimous verdict was reached on July 3rd by five judges in the Appellate…
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New York City – Star Exemption
Information on the New York City “STAR Recap Fee” Ruling – May 29th, 2012