Effective Jan. 1, 2002, a new rule issued by the federal government requires non-financial trades and businesses to report certain information regarding cash transactions involving currency over $10,000 to the Financial Crimes Enforcement Network (“FinCEN”), a bureau within the U.S. Treasury Department, in order to aid intelligence and law enforcement agencies in their battle against money laundering.
Vermont court rules that pre-suit mediation clause and limitation of liability provisions contained in a purchase & sale form contract created by the state association did not violate the state's consumer fraud laws.
A Louisiana court has considered whether a real estate company had a duty to inform buyer about zoning restrictions on a property, which prevented her from using the property in the way that she had intended.
Positive Software Solutions, Inc., v. New Century Mortgage Corp.: Arbitrator Had Duty to Disclose Prior Relationship
A federal appellate court has considered whether an arbitration award should be vacated because an arbitrator failed to disclose that he had served as co-counsel in a lengthy litigation matter with one of the attorneys who was now representing one of the parties in the arbitration.
A Connecticut appellate court has considered whether a seller could demand a refund from a broker because the broker received a commission based on a price which exceeded the actual sale price.
A California court has considered whether a broker could collect a commission as damages from a personal real estate purchase contract when the seller breached the contract.
A New York federal court has considered whether a disabled tenant’s request to move into a higher priced apartment within the same building at her current rental rate could constitute a reasonable request for accommodation by the tenant.
Maryland’s highest court has considered whether the evidence supported a large verdict against a real estate company, appraiser, and mortgage lender for their participation in a conspiracy where dilapidated properties would be bought and quickly resold to buyers who would not otherwise be financially qualified to purchase the properties.
Terra Venture, Inc., v. JDN Real Estate-Overland Park, L.P.: Brokerage Cannot Collect Extra Fees from Developer
A Kansas federal court has considered a real estate brokerage's claims against a developer whom the brokerage claimed delayed a project through its incompetence, causing the brokerage to miss targets which would have entitled it to receive bonuses.
Freeman v. Lasky, Haas & Cohler: Antitrust Allegations against REALTOR® Association Officials Rejected
A California appellate court has considered whether association lawyers and their clients could be liable for violating the antitrust laws through discovery violations.