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Land Use And The Climate Bubble: The Due Diligence Defense, John R. Nolon 2014 Pace University

Land Use And The Climate Bubble: The Due Diligence Defense, John R. Nolon

Pace Law Faculty Publications

This article examines events on the ground in several localities where climate change is lowering property values and analyzes how those changes in value can be reckoned with by regulators. The article merges practices and principles of real estate transactions and finance with those of land use and environmental regulation.

Climate change is a planetary phenomenon whose environmental implications are far-reaching. Reports on climate change consequences increasingly focus on what is happening locally and presently, while speculation continues about long-term global consequences. In numerous communities, property values are declining because of repeated flooding, continued threats of storm surges, sustained high ...


Encouraging Cooperation: Harmonizing The Battle Of Association And Mortgagee Lien Priority In America’S Common Interest Communities, Christian J. Bromley 2014 SelectedWorks

Encouraging Cooperation: Harmonizing The Battle Of Association And Mortgagee Lien Priority In America’S Common Interest Communities, Christian J. Bromley

Christian J Bromley

As the United States grappled with millions of foreclosures in recent years, the delinquency of mortgage and community association payments threatened the sustainability of over 300,000 common interest communities that house 63.4 million Americans. When owners of residential property fall behind on mortgage and association assessments, a battle for lien priority emerges between the associations and mortgagees. Each respectively holds a lien on the property to secure the debt owed to them, but it is the priority of these liens that determines the amount the lienholder recovers from a foreclosure sale.

There is no uniform approach to priority ...


The Tax Treatment Of Mixed Personal And Rental Use Of Real Estate, Natsua Asai 2014 Minnesota State University, Mankato

The Tax Treatment Of Mixed Personal And Rental Use Of Real Estate, Natsua Asai

Journal of Undergraduate Research at Minnesota State University, Mankato

In 2010, individual taxes provided almost half (43.35 %) of the U.S. Federal Revenue. Every U.S. citizen has an obligation to pay tax in order to support their government; however, they also have the right to keep tax as low as possible by effective tax planning (Smith, Harmelink, & Hasselback, 2012). Tax planning is a proper arrangement of transactions or affairs in order to reduce tax liability. Tax planning can become complex if the transaction involves multiple areas of tax law. I am going to discuss an aspect of real estate that involves multiple concepts and rules governing tax ...


The Future Of The Private Label Securities Market, David J. Reiss 2014 SelectedWorks

The Future Of The Private Label Securities Market, David J. Reiss

David J Reiss

The PLS market, like all markets, cycles from greed to fear, from boom to bust. The mortgage market is still in the fear part of the cycle and recent government interventions in it have, undoubtedly, added to that fear. In recent days, there has been a lot of industry pushback against the government’s approach, including threats to pull out of various sectors. But the government should not chart its course based on today’s news reports. Rather, it should identify fundamentals and stick to them. In particular, its regulatory approach should reflect an attempt to align incentives of market ...


Summary Of Simmons Self-Storage V. Rib Roof, Inc., 130 Nev. Adv. Op. 57, Kelsey Bernstein 2014 University of Nevada, Las Vegas -- William S. Boyd School of Law

Summary Of Simmons Self-Storage V. Rib Roof, Inc., 130 Nev. Adv. Op. 57, Kelsey Bernstein

Nevada Supreme Court Summaries

The Court determined two issues: (1) whether a mechanic or materialman must prove either that the materials were only delivered for use or whether the materials were actually used for the property in order to establish a lien on the property; (2) whether a property subject to a lien may still be sold where a surety bond has been posted, or whether the lien judgment should be satisfied from the surety bond.


Summary Of In Re Irrevocable Trust Agreement Of 1979, 130 Nev. Adv. Op. 63, Michael Paretti 2014 University of Nevada, Las Vegas -- William S. Boyd School of Law

Summary Of In Re Irrevocable Trust Agreement Of 1979, 130 Nev. Adv. Op. 63, Michael Paretti

Nevada Supreme Court Summaries

The Court determined whether unilateral mistakes, if proven, will allow a donor to rescind or reform an errant gift.


The Lost Takings Test, Josh Eagle 2014 University of South Carolina

The Lost Takings Test, Josh Eagle

Josh Eagle

In recent decades, the Supreme Court has used oceanfront property as a principal vehicle for the development of Fifth Amendment takings law. Cases alleging that a state government has taken oceanfront land have produced landmark opinions such as Nollan v. California Coastal Commission (1987), Lucas v. South Carolina Coastal Council (1992), and Stop the Beach Renourishment v. Florida Department of Environmental Protection (2010).

In each of these cases, the Court has applied its standard, positivist takings analysis: first, identifying the rights of the landowner; then, weighing the extent to which the government’s action has limited those rights. This Article ...


Redevelopment In California: The Demise Of Tif-Funded Redevelopment In California And Its Aftermath, George Lefcoe, Charles W. Swenson 2014 BLR

Redevelopment In California: The Demise Of Tif-Funded Redevelopment In California And Its Aftermath, George Lefcoe, Charles W. Swenson

University of Southern California Legal Studies Working Paper Series

California was the first state to embrace the use of tax increment financing (TIF) for redevelopment, and the first state to abandon it. Both the rise and fall of redevelopment are attributable to the fact that cities and counties sponsoring redevelopment could pledge not just their own share of the property tax increments from redevelopment project areas but also those of the other taxing entities including schools and special districts.

By voter initiative in 1978, California enacted significant limitations on the property tax, cutting property tax revenues by half. The property tax had been the most important revenue source for ...


The Price Of Crisis: Eminent Domain, Local Governments, And The Value Of Underwater Mortgages, Raymond H. Brescia, Nicholas Martin 2014 SelectedWorks

The Price Of Crisis: Eminent Domain, Local Governments, And The Value Of Underwater Mortgages, Raymond H. Brescia, Nicholas Martin

Raymond H Brescia

In response to the lingering fallout from the Financial Crisis of 2008, local governments have begun to explore whether it is wise and legal to use the power of eminent domain to seize distressed home mortgages. This Article attempts to situate this approach to such mortgages within the larger economic, legal and policy context and asks three key questions. First, are local governments appropriate actors to address the lingering problem of underwater mortgages? Second, assuming they are appropriate actors to address this problem, how should localities and, if necessary, courts, value underwater mortgages in the context of condemnation proceedings: i ...


The Threat To Interest-Free Home Financing: The Problem Of State Governments' Prohibition Of Islamic-Compliant Financing Agreements, Matt Anderson 2014 Hamline University

The Threat To Interest-Free Home Financing: The Problem Of State Governments' Prohibition Of Islamic-Compliant Financing Agreements, Matt Anderson

Hamline Law Review

abstract


Green Building Geography Across The United States: Does Governmental Incentives Or Economic Growth Stimulate Construction?, Darren Prum, Tetsuo Kobayashi 2014 SelectedWorks

Green Building Geography Across The United States: Does Governmental Incentives Or Economic Growth Stimulate Construction?, Darren Prum, Tetsuo Kobayashi

Darren A. Prum

As green building activity continues to rise across the country, some state governments decided to create incentives that would motivate developers to voluntarily pursue third party certification for their real estate projects in order to assist in meeting sustainability and environmental goals. Despite the growing number of studies in green buildings, the geography of green buildings and sustainable construction only includes a few studies, which emphasize the lack of green building research from the spatial perspective and their relevance to public policies the lack of green building research from the spatial perspective and their relevance to public policies. This study ...


Does The Endowment Effect Justify Legal Intervention? The Debiasing Effect Of Institutions, Jennifer Arlen, Stephan Tontrup 2014 NELLCO

Does The Endowment Effect Justify Legal Intervention? The Debiasing Effect Of Institutions, Jennifer Arlen, Stephan Tontrup

New York University Law and Economics Working Papers

We claim that the endowment effect rarely justifies legal intervention in private ordering. To our knowledge, we present the first theory to explain how institutions inhibit the endowment effect without altering people’s rights to their entitlements. The endowment effect is substantially caused by anticipated regret. We show that people experience regret only when they feel responsible for the decision and can mute regret by trading through institutions that let them share responsibility with others. As entitlement-holders typically transact through institutions, we expect most people to make unbiased trading decisions in real markets. We test two common institutions—agency and ...


Does The Endowment Effect Justify Legal Intervention? The Debiasing Effect Of Institutions, Jennifer Arlen, Stephan Tontrup 2014 NELLCO

Does The Endowment Effect Justify Legal Intervention? The Debiasing Effect Of Institutions, Jennifer Arlen, Stephan Tontrup

New York University Public Law and Legal Theory Working Papers

We claim that the endowment effect rarely justifies legal intervention in private ordering. To our knowledge, we present the first theory to explain how institutions inhibit the endowment effect without altering people’s rights to their entitlements. The endowment effect is substantially caused by anticipated regret. We show that people experience regret only when they feel responsible for the decision and can mute regret by trading through institutions that let them share responsibility with others. As entitlement-holders typically transact through institutions, we expect most people to make unbiased trading decisions in real markets. We test two common institutions—agency and ...


Fighting Dirty Sidewalk Tickets In New York City, Sean Roman Strockyj 2014 Pepperdine University

Fighting Dirty Sidewalk Tickets In New York City, Sean Roman Strockyj

Journal of the National Association of Administrative Law Judiciary

No abstract provided.


The Art Of Stripping: How The Government Applies The Takings Clause To Strip You Of Your Property, Toni Kong 2014 Touro College Jacob D. Fuchsberg Law Center

The Art Of Stripping: How The Government Applies The Takings Clause To Strip You Of Your Property, Toni Kong

Touro Law Review

No abstract provided.


The Big Chill? - The Likely Impact Of Koontz On The Local Governments/Developer Relationship, Julie A. Tappendorf, Matthew T. DiCanni 2014 Touro College Jacob D. Fuchsberg Law Center

The Big Chill? - The Likely Impact Of Koontz On The Local Governments/Developer Relationship, Julie A. Tappendorf, Matthew T. Dicanni

Touro Law Review

This article will explore the doctrine of unconstitutional conditions, showing how it has evolved in the context of land use and come to be the logical underpinning of controversial Supreme Court decisions regarding exactions. Part I will explain the doctrine of unconstitutional conditions, providing a brief overview of its development over the course of the past century. Part II will then discuss how this doctrine has come to be the logical foundation on which the Supreme Court’s exactions jurisprudence rests. Part III will discuss the Koontz decision and its impact on the doctrine of unconstitutional conditions. In Part IV ...


The "Parcel As A Whole" In Context: Shifting The Benefits And Burdens Of Economic Life - Or Not, Edward J. Sullivan, Karin Power 2014 Touro College Jacob D. Fuchsberg Law Center

The "Parcel As A Whole" In Context: Shifting The Benefits And Burdens Of Economic Life - Or Not, Edward J. Sullivan, Karin Power

Touro Law Review

No abstract provided.


A Trip Back In Time, Including Judge Charles D. Breitel's Rationale For His Fred French And Penn Central Decisions, Frank Schnidman 2014 Touro College Jacob D. Fuchsberg Law Center

A Trip Back In Time, Including Judge Charles D. Breitel's Rationale For His Fred French And Penn Central Decisions, Frank Schnidman

Touro Law Review

No abstract provided.


Substantive Due Process By Another Name: Koontz, Exactions, And The Regulatory Takings Doctrine, Mark Fenster 2014 Touro College Jacob D. Fuchsberg Law Center

Substantive Due Process By Another Name: Koontz, Exactions, And The Regulatory Takings Doctrine, Mark Fenster

Touro Law Review

No abstract provided.


The Categorical (Lucas) Rule: "Background Principles," Per Se Regulatory Takings, And The State Of Exceptions, David L. Callies, David A. Robyak 2014 Touro College Jacob D. Fuchsberg Law Center

The Categorical (Lucas) Rule: "Background Principles," Per Se Regulatory Takings, And The State Of Exceptions, David L. Callies, David A. Robyak

Touro Law Review

No abstract provided.


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