North America: Real Estate and Construction

Recent amendments to Mass. R. Prof. C. 1.15 have significantly changed how Massachusetts law yers must handle unclaimed and unidentified funds held in IOLTA accounts.

When the topic of property rights gets brought up, most people think of ownership and the ability to possess, use, and enjoy land. But the law also recognizes a category of non-possessory interests, where one party has limited rights to use another’s land without owning it. The most common non-possessory rights are called easements.

The Texas Supreme Court has overturned the "gist" rule used by lower courts to dismiss cases involving out-of-state property, establishing that Texas courts can exercise jurisdiction over contractual disputes and deed reformation matters regardless of property location. This landmark decision clarifies the distinction between in personam and in rem suits, potentially opening Texas courts to a broader range of extraterritorial real estate disputes. The ruling in Braxton Minerals III, LLC v. Bauer provides cr

Cadwalader's real estate finance team has successfully closed several major transactions spanning student housing portfolios, luxury resort acquisitions, office complex refinancings, industrial warehouse facilities, and cold-storage properties. These deals range from $39.25 million to $1.435 billion and involve diverse property types across multiple states, demonstrating the firm's comprehensive capabilities in commercial real estate lending and acquisition financing.

Property insurance policies often contain same site clauses that restrict replacement cost coverage to rebuilding at the exact original location. When zoning changes, land use restrictions, or lease complications make rebuilding impossible, property owners and tenants may face significant financial shortfalls unless they secure a same site deletion endorsement.

Partition is a legal cause of action stemming from common law, but now a statutory right for property owners (RCW 7.52). If you own a property with another person, you are likely tenants-in-common.

Canadian landlords operating short-term rentals now face strict new limits on claiming tax deductions if they fail to follow provincial or municipal rules. The Canada Revenue Agency can deny expenses related to short-term rental properties under the updated Income Tax Act.

Property insurance policies often contain same site clauses that restrict replacement cost coverage to rebuilding at the exact original location. When zoning changes, land use restrictions, or lease complications make rebuilding impossible, property owners and tenants may face significant financial shortfalls unless they secure a same site deletion endorsement.

Partition is a legal cause of action stemming from common law, but now a statutory right for property owners (RCW 7.52). If you own a property with another person, you are likely tenants-in-common.

The Construction Act (the “Act”) governs Ontario’s construction industry, establishing the framework for key industry mechanisms to regulate cash flow, and prescribe alternative dispute resolution on construction projects throughout the Province. Originally enacted as the Construction Lien Act in 1983, the statute has been subject to significant reform in response to evolving industry practices and concerns voiced from stakeholders.

Property insurance policies often contain same site clauses that restrict replacement cost coverage to rebuilding at the exact original location. When zoning changes, land use restrictions, or lease complications make rebuilding impossible, property owners and tenants may face significant financial shortfalls unless they secure a same site deletion endorsement.

In May, the I.R.S. announced a settlement offer for partnerships involved in disputes concerning "syndicated conservation easements." The key features of the offer include a 10% penalty for gross valuation misstatement, instead of a 40% penalty, and no upfront payment required.