News and Events for Attorneys and Executives

Real Estate

Illinois Governor Appoints Quarles & Brady Partner to READ Board

News
Everett Ward, partner at the Chicago office of Quarles & Brady, has been appointed by Illinois Governor Bruce Rauner to serve as a public member of the Real Estate Administration and Disciplinary Board.

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Judge Fines Foreclosure Law Firm $1.8 Million for Bogus Billings

News
A Denver judge has fined one of the city’s prolific foreclosure attorneys $1.8 million for billing thousands of consumers facing the loss of their homes for title-insurance policies that did not exist, reports The Denver Post.

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Court Finds That Text Message Can Form Binding Contract

Court Finds That Text Message Can Form Binding Contract

Insight
A Massachusetts court ruled that a string of text messages can constitute a writing under the Statute of Frauds sufficient to bind the parties to sell certain property, writes Matthew DeVries on Burr & Forman LLP‘s Best Practices Construction Law.

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Enforceability of Electronic Agreements in Real Estate Transactions

Enforceability of Electronic Agreements in Real Estate Transactions

Insight
It is becoming common for more and more transactions to be created, negotiated, finalized and executed electronically, according to an alert from Arnall Golden Gregory LLP. From a real estate perspective, virtually all documents other than those that are being recorded are exchanged electronically.

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Tucson Lawyer Pleads Guilty In $33M Fraud Case

Tucson Lawyer Pleads Guilty In $33M Fraud Case

News
the charges involve a procedure in which defendants took out $33.6 million in loans against multi-million dollar homes and then forged documents to fool more lenders into believing the homes were debt-free.

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Beck Redden’s Pfeiffer Leads Charge to Overturn Fifth Circuit Decision

Beck Redden’s Pfeiffer Leads Charge to Overturn Fifth Circuit Decision

News
When Beck Redden partner and appellate specialist Connie Pfeiffer led the charge to overturn a Fifth Circuit decision, the path to victory was nearly certain to be long and arduous, the firm said in a release.

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On the Nature of Being Mistaken in Contract

On the Nature of Being Mistaken in Contract

Article
Successful cases of contract reformation based on unilateral mistake are exceedingly rare — so endeavor not to be mistaken, cautions Glenn West of Weil, Gotshal & Manges LLP in the firm’s Global Private Equity Watch.

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Former Reading Int’l GC Joins Akerman Los Angeles Office

Former Reading Int’l GC Joins Akerman Los Angeles Office

News
Veteran real estate lawyer William “Bill” Ellis has joined Akerman LLP’s Los Angeles office as a partner in the Real Estate Practice Group.

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Donald Trump Settled a Real Estate Lawsuit, and a Criminal Case Was Closed

Donald Trump Settled a Real Estate Lawsuit, and a Criminal Case Was Closed

News
A lawsuit claimed that Trump SoHo condo-hotel tower was developed with the undisclosed involvement of convicted felons and financing from questionable sources in Russia and Kazakhstan, the report states, The New York Times reports.

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Morgan Stanley to Pay $3.2B Penalty in Securities Deal

NEWS
Morgan Stanley will pay a $2.6 billion penalty to resolve claims related to Morgan Stanley’s marketing, sale and issuance of residential mortgage-backed securities (RMBS), the Justice Department reported Thursday.

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Wells Fargo to Pay $1.2B Federal Mortgage Settlement

NEWS
The government had accused the banking company of ‘reckless’ underwriting practices that led to thousands of federally-insured loans defaulting.

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When Can You Rescind a Real Property Purchase Agreement?

Article
Although rescission makes particular sense when recouping the purchase price is more important than living in the house, it’s not always available.

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Donald Trump Loses Wind Farm Legal Challenge

NEWS
Donald Trump’s legal challenge to a planned offshore wind farm in Scotland has been rejected by the UK’s Supreme Court, reports the BBC.

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Dallas’ Southwest Securities Hit with $5.45 Million Fraud Verdict

NEWS
Jurors in a Dallas district court found that real estate developer Stephen Jemal conspired with Southwest Securities Inc. to defraud the two Texas partnerships by misrepresenting the value of his Southwest holdings.

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How to Score a Contract from the Red Zone

NEWS
Charles Sartain, writing in Gray Reed & McGraw’s Energy and the Law blog, uses a football metaphor to describe how a negotiating party could fail to score an enforceable contract while near the end of the negotiation process.

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Denny O’Shea Will Join Greenberg Traurig in Broward, Palm Beach

NEWS
Denny O’Shea, the incoming Fort Lauderdale Downtown Development Authority Chairman, will serve as chair of Greenberg Traurig’s Real Estate Development & Land Use Practice in Broward and Palm Beach counties.

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‘As-Is’ Commercial Transactions: Let the Seller Beware

White Paper
A New York court earlier this year explored the issue of disclosure obligations in “as-is” commercial transactions and came to an unexpected answer, writes DLP Piper’s Michael Hamilton in Commercial Property Executive.

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Real Estate Development and Construction Contracts: What You Need to Know

Real Estate Development and Construction Contracts: What You Need to Know

White Paper
Matthew DeVries of Burr & Forman offers a few items to think about when drafting contracts, relying on a book titled “Courses on Drafting Contracts.”

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Jackson Walker Adds Two More From Thompson & Knight to Real Estate Group

Jackson Walker Adds Two More From Thompson & Knight to Real Estate Group

NEWS
Jackson Walker L.L.P. has added two more former Thompson & Knight real estate lawyers to the firm’s Houston office, joining four others who moved from Thompson & Knight on April 20.

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Title Due Diligence in a Distressed Energy Market

Title Due Diligence in a Distressed Energy Market

White Paper
Producers benefit greatly from a legal and due diligence team that has worked together on multiple transactions over a period of time.

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