February 7, 2008
Dear Real Estate Professional:
To underscore the importance of the following deadlines and the value of the upcoming seminars of interest to the real estate and title industries, this issue of the Update will focus thereon. The following issue will resume coverage of legislation and case law.
DC: Time Deadline: DC Real Property Tax Assessment Appeals. Assessment notices are expected to be mailed around February 26. Appeals must be filed on or before April 1, 2008. Jackson and Campbell does handle tax appeals, but only for commercial real estate located in the District of Columbia. For information, please contact Roy Kaufmann, whose contact information appears below. Click for an Assessment Appeal Application.
MD: Time Deadline: Maryland property owners who use their property as their principal residence, and received a reassessment notice on January 1, 2008, will need to apply by February 11, 2008 to receive the Homestead Exemption that used to be automatic, otherwise the Exemption may be lost. This is a reversal of longstanding policy enacted by the 2007 session of the General Assembly which believed that property owners were receiving improper credits on vacation homes and rental property. If your home was not reassessed this year, you do not need to file this application until your next reassessment in 2009 or 2010. Click for a SDAT's Webpage Covering Homestead Exemptions .
DC: Time Deadline: The DC Recorder of Deeds has announced a change in policy. Effective March 3, 2008, all documents presented for filing will be rejected unless the Real Property Recordation and Transfer Tax Form (FP 7/C) includes the Social Security Number or the Federal Employer Identification Number (FEID) for each party to the document. This information must be clearly stated in part G and H of the FP 7/C. There is, obviously, much concern about this requirement. And parties with comments are invited to send them to Andrew Schecter, who acts as the Chair of the Recorder of Deeds Liaison Committee of the D.C. Land Title Association at andy@mandmsearchservice.com
DC Bar - Real Property, Housing and Land Use Seminars ("REHLU Section"):
Information about these seminars is send electronically to members of the REHLU Section, who receive a discount on Seminars. The membership cost is only $20 at this point ($45 annually). If you are not already a member, you are encouraged to join at Join the DC Bar REHLU Section.
Click here to Register for a DC Bar Seminar.
Land Use and the Federal Interest - February 28, 2008 The purpose of the program is to provide DC lawyers and others with insight to and navigational skills of the jurisdictions of the Federal agencies which are major players in the DC metropolitan area, how the Federal agencies interrelate, and up-coming projects.
Annual Highlights Dinner at the Westin Embassy Row - March 13, 2008
We urge you to register early for this annual event during which speakers will present the changes over the past year in legislation and case law of interest to the real estate and title communities. Guest speakers include Frances “Terry” Hallihan, Acting Director of Real Property Tax Administration at the Office and Tax and Revenue who has shown great promise in her new position with responsibility to clean and tighten up the procedures and safeguards after the spectacular theft and upheaval at OTR and Jim Abdo, noted developer who will speak about the exciting and expansive master-plan at New York/Bladensburg Gateway project.
Predatory Lending - March 19, 2008
This program will focus on how to identify and intervene in foreclosure rescue scam cases, and will review the recently approved Home Equity Protection Act of 2007 as well as national trends.
In-Depth Title Insurance Principles - April 2, 2008
This advanced level NBI seminar will benefit those who want to maximize their title insurance knowledge, and will address issues including, the new ALTA Owner's and Lender's Title Insurance policies, recognizing defects in documentation, understanding liens and releases, endorsements and exceptions, construction loans, real estate transactions with legal entities, avoiding ethical disputes, and bankruptcy basics for real estate.
Nuts and Bolts of Real Estate Settlements - April 22, 2008
Three of the areas leading real estate settlement professionals will give a primer on the steps to be taken in preparation for a real estate settlement, the conduct of the settlement ceremony itself, post-closing matters and the role of the attorney representing the buyer or seller throughout the process. This program is essential for new attorneys, regardless of their particular field of expertise, since most attorneys have some participation in settlements at some time or another in their career.
Noise Act - May 7, 2008
A presentation on the laws and regulations concerning noise levels in the District of Columbia and enforcement procedures.
Form Contracts - GCAAR Forms (Additional Clauses Pages)- May 20, 2008
Most residential sales in the region are memorialized on forms issued by the Greater Capital Area Association of Realtors. Each year the Bar presents a seminar on aspects of those forms and this year the focus will be on the multi-page offering of "Additional Clauses" appended to the GCAAR contract.
TOPA: Grand Success or Abject Failure? - May 28, 2008
An examination of DC’s controversial “TOPA” legislation. A lively presentation and discussion of legislation and case law examining the stakeholders’ perspectives on administration of the Act, benefits and drawbacks to the community, and implications on title and marketability of real estate. This event is likely to be a "sell-out" so early registration is suggested.
DC: Jackson & Campbell, P.C. maintains a list of the status of D.C. legislation of interest to the real estate and title industries. The latest version is available here: Pending D.C. Legislation .
Please feel free to circulate this newsletter to others in the industry, both within and outside your office.
Sincerely,
Roy L. Kaufmann of the Real Property and Asset Management Group
Jackson & Campbell P.C.
email: Roy L. Kaufmann at rkaufmann@jackscamp.com
voice: (202) 457-1600
web: www.JacksCamp.com
The contents of this Update are intended for general informational purposes only and should not be relied upon as legal advice or as a substitute for consultation with a qualified attorney. Moreover, the mailing hereof is not intended to create nor does it constitute an attorney-client relationship.
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