Legal Insights on Real Estate, Land Use, and Development

Latest from Legal Insights on Real Estate, Land Use, and Development

On August 7, in Frazier v. Equifax Information Services, LLC, the United States Court of Appeals for the Seventh Circuit affirmed a lower court’s decision to grant summary judgment to defendant Equifax, a consumer credit reporting agency (CRA), in a case brought under the Fair Credit Reporting Act (FCRA).
Continue Reading Will Credit Bureaus Continue to Escape Justice? Part 1: Why Consumers
Suffer

The City of Milwaukee (and various other municipalities) has sent its Biennial Property Tax Exemption Report and Filing Fee Notices. Owners of tax-exempt real property in Wisconsin must file a Form PC-220 Tax Exemption Report (the “Report”) by March 31, 2024, to ensure their property is properly classified and continues to be recognized as tax-exempt. The Report must be filed with the clerk of the town, village, or city in which the property is located biennially of each even
Continue Reading Wisconsin Real Estate Property Taxes: Biennial Exemption Report Filing
Deadline – March 31, 2024

On February 7, 2024 FinCEN issued a Notice of Proposed Rulemaking that FinCEN issued a Notice of Proposed Rulemaking that would require certain professionals involved in real estate closings and settlements to report information to FinCEN about non-financed transfers of residential real estate to legal entities or trusts. FinCEN’s proposal targets residential real estate transfers considered high-risk for money laundering.
Continue Reading Enhancing Transparency in Real Estate: FinCEN's New Reporting Requirements
for Non-Financed Transfers

On October 10, 2023, the Indiana Supreme Court denied a landowner’s petition to transfer filed  in the matter of State of Indiana v. The Market Place at State Road 37, LLC, et al., 22A-PL-2765 (May 17, 2023), and as a result, did not consider certain novel issues presented by the owner’s chain of title. The Market Place at State Road 37, which owns property near the intersection of State Road 37, now I-69, and Fairview Road in Greenwood, Indiana,
Continue Reading Nearby Road Closures Remain Non-Compensable in Indiana Eminent Domain
Proceedings

As digital currency grows in use and acceptability, digital currency has entered into many traditional investment markets. Commercial real estate is no exception. The conversion of real estate assets to digital tokens using blockchain technology (“tokenization”) is continuing to grow, with a market size of approximately $200 million, real estate tokens account for nearly 40% of the digital securities market.
Continue Reading Will the Proposed IRS Regulations Hinder the Growth of Tokenization in Real
Estate?

Property owners (“Owners”) interested in engaging in short-term leases should carefully consider the structure of their contracts (“Leases”). Anticipating potential disputes and consequences is essential for avoiding future litigation. A well-written Lease can serve to facilitate friendly, productive, and profitable landlord/tenant relationships. A good Lease can also help insulate Owners from liability and unnecessary expenses related to the short-term rental of their property.
Continue Reading Contractual Considerations for Short-Term Rentals