Fall 2012

Real Estate Practice Group

David H. Cox
(Co-Chair)

James R. Michal
(Co-Chair)

Rick W. Bryan

Allison G. Clary

Christopher A. Glaser

Glenn Golding

Thomas Penfield Jackson

Roy L. Kaufmann,
Of Counsel


Allyson C. Kitchel

James N. Markels

John J. Matteo

Clifton M. Mount

David A. Rahnis

Mitchell B. Weitzman








 

 

 

 

 

 

 

 

 

By: Roy L. Kaufmann

DISTRICT OF COLUMBIA

DC – Outdoor Signage:  Regulations have been proposed that limit and tax many forms of signage. Read more.

DC – Online Real Estate Tax Bills:  Tax Bills available on-line, but use with caution. Read more.

DC – New Homestead and Sr. Citizen/Low Income Application Forms. Read more.

DC – Delinquent Debt Recovery Act:  The District has charged the CFO’s office with the responsibility of collecting almost all debts owed to the District. Read more.

DC – Recordation Tax on Non-Residential Refi’s and Modifications.  Tax is at 1.1% only applied to loan amount in excess of the principal amount being financed. Read more.

DC – Proposed Law: Would allow redress by homeowners for substandard home improvements performed by previous owner. Read more.

DC – Ominous Notice to Attorneys about filing of pleadings at US District Court. Read more.

DC – Co-Ops:  Subject to transfer and recordation tax. Read more.

DC – Tax Sales:  No tax sale unless amount due exceeds $1,000.00. Read more.

DC – Court of Appeals Finds No Error in Foreclosure for Failure to Pay Condo Fees. Read more.

DC – Calculation of Recordation/Transfer Tax When Consideration is Less than FMV.  The Recorder of Deeds has long relied upon the 30% Rule, but there are fine points to consider. Read more.

MARYLAND

MD – IDOTs in excess of $1M are now subject to the State Recordation Tax.  Read more.

MD – Court Rules that same-sex marriages valid in other jurisdictions are recognized in Maryland. Tenancy by Entirety now available. Read more.

VIRGINIA

VA – Recordation Tax on Deeds of Trust – Elimination of Exemption for Amounts Refinanced with Same Lender. Read more.

VA –  Expansion of Fraudulent Conveyance Statute.  Attorneys may become liable. Read more.

DC/MD/VA:

Real Estate and Recording Tax Rates. Read more.

Federal – Foreclosure Review Process Extended Through December 31, 2012.  Borrowers may request independent review of the conduct of foreclosure (including where foreclosure was averted through a work-out, short-sale, etc.). Read more.

Federal – Alternative Resource to PACER:  wwww.iforuptcy.com .  This site allows free viewing and printed copies at half the cost of PACER. Read more.

Federal – Draft Final Rules Published for Consolidated Truth-In-Lending and RESPA disclosures.  HUD-1 to be received by borrower no less than 3 days before closing.  Deadline for comments may be September 7, 2012, today. Read More.  

DC LEGISLATIVE UPDATE CHART

19th Council Period (2012)

UPCOMING EVENTS

Thursday, September 6-8 2012
Maryland Land Title Association Fall Convention
Ocean City, MD
Please click here for details.

Thursday, October 4, 2012—6:00PM -9:15PM
D.C. Bar CLE—When Lawyers Change Law Firms: Ethical, Practical, and Legal Issues. Arthur Burger will be a speaker. 3.0 Credit Hours, including 2.0 Ethics Credit Hours. Please click here for details.

Wednesday, October 10, 2012—8:00AM-12:00PM
D.C. Land Title Association Fall Seminar. David Cox will be a speaker.  Please click here for details.

Please feel free to circulate this news alert to others in the industry, both within and outside your office.

Sincerely,

Real Property and Asset Management Group
Jackson & Campbell P.C.


email: Roy L. Kaufmann at rkaufmann@jackscamp.com
voice: (202) 457-6710
web: www.jackscamp.com

email: David H. Cox at dcox@jackscamp.com
voice: (202) 457-1634
web: www.jackscamp.com

 

 

 

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 © 2012 Jackson & Campbell, P.C.