Real Estate & Property Law

Thompson & Knight Lays Off 42

Due to the dismal economy, Thompson & Knight laid off 17 associates and 25 support staff yesterday. The cuts were made in multiple offices of the Dallas-based law firm and focused on real estate and other corporate practice groups impacted by the sudden shortage of bank lending, managing partner Peter…

May 6, 2009 10:41 PM CDT

Helping Client Gets Minn. Attorney Suspended for 2 Years

Attorney Benjamin Houge had argued that his conduct merited only a reprimand. But the Minnesota Supreme Court suspended the Twin Cities practitioner for two years over his representation of a client who had previously been involved in mortgage frauds. The court found that Houge had aided a client’s probation violation…

May 6, 2009 7:04 PM CDT

South Carolina Supreme Court Temporarily Bars Foreclosures

The South Carolina Supreme Court has temporarily barred some foreclosures in the state to give homeowners more time to seek loan modifications under a federal program. The injunction appears to be the first in the nation to delay foreclosures in an entire state, the Associated Press reports. It applies to…

May 6, 2009 2:53 PM CDT

Donald Trump Name Sells Condos, But Is He Liable for Failed Project?

Donald Trump’s famous name helped developers of a high-rise condominium project along the Pacific Ocean in Baja Mexico collect some $32 million in deposits from prospective buyers, including a number of Southern California residents. But when the project failed, many were stunned to find out that Trump only licensed his…

May 5, 2009 6:31 PM CDT

In The Cross-Heirs

A loophole in real estate law pits families against developers and each other. Some say there’s more than money at stake.

May 2, 2009 4:40 AM CDT

Salvage Plan

Beleaguered homeowners hope the administration’s new program will break the logjam over mortgage loan workouts

May 2, 2009 4:19 AM CDT

Acting CFO of Freddie Mac Found Dead in Apparent Suicide

Updated: The acting chief financial officer of Freddie Mac has died in an apparent suicide, following reports that the Securities and Exchange Commission was questioning executives about the mortgage lender’s accounting practices. David Kellerman was found dead in his Vienna, Va., home early today, according to the Washington Post and…

Apr 22, 2009 1:37 PM CDT

Law Firm Fined $25K for Trumpeting Reported $17M Settlement

An Arizona appeals court has upheld a $25,000 sanction against a construction law firm that trumpeted to potential clients, without mentioning the exact amount, a confidential settlement of a homeowner stucco suit reported to be around $17 million. Kasdan Simonds Riley & Vaughan had argued that home builder Del Webb,…

Apr 16, 2009 4:54 PM CDT

Mortgage Fraud Is Rarely Prosecuted

Although bank robbers steal less, they’re a lot more likely to be prosecuted criminally than those who commit mortgage fraud and deed thefts. Lacking staff and resources to pursue such complex real estate cases, prosecutors in New York have tended to treat them as civil matters even as they proliferated…

Apr 15, 2009 5:51 PM CDT

EPA & Lawmakers Focus on New Environmental Issue: Bedbugs

In a summit today near the nation’s capital, the U.S. Environmental Protection Agency is putting a new emphasis on a growing environmental issue: A proliferation of bedbugs. The increasing plague of the tiny insects, which notoriously lurk in mattresses waiting to feed on humans as they sleep, apparently has been…

Apr 14, 2009 7:53 PM CDT

As 4 GCs Fight Backdating Charges, Others at Risk in Mortgage Fraud Cases

Former McAfee general counsel Kent Roberts successfully fought off charges alleging his participation in improper backdating, but four other general counsel are still in the government’s crosshairs. Meanwhile, at least one expert questions whether general counsel will be at risk in mortgage fraud cases, the National Law Journal reports. Roberts…

Apr 14, 2009 5:48 PM CDT

Thieves Take High-End Home Decor

In the latest real-estate-related scam, burglars in upscale communities on the West Coast reportedly are stealing expensive furniture and decorator items from vacant upscale homes. One group of suspects in such capers, for instance, allegedly had stockpiled some $250,000 in high-end home swag when nabbed by authorities in Southern California…

Apr 14, 2009 1:00 AM CDT

Ga. Real Estate Lawyer Charged in Alleged $28M Ponzi Scheme

A Georgia lawyer accused of masterminding a $28 million real estate Ponzi scheme that duped 125 investors was charged today with one count of wire fraud in a case that he himself initiated. Attorney Robert P. Copeland of Marietta claimed to be spending some $40 million he obtained from investors…

Apr 9, 2009 7:25 PM CDT

Calif. AG: State Bar Staffer Stole $675K to Pay for ‘Spa Treatments’ & ‘Fancy Hotels’

California’s attorney general filed seven criminal charges this week against the Sharon Elyce Pearl, alleging she embezzled $675,000 from the State Bar of California over an eight-year period. Pearl, who as director of real property for the bar was responsible for building management, is believed to have kept two sets…

Apr 9, 2009 10:59 AM CDT

NC Lawyer Convicted in $15M Mortgage Fraud Case

Jurors convicted Charlotte, N.C., real estate lawyer Victoria Sprouse on Wednesday of 18 charges stemming from mortgage fraud schemes involving more than 200 properties. The case, deemed one of the largest mortgage fraud cases in Mecklenburg County’s history, involved $15 million in fraudulent loans, the Charlotte Observer reports. Sprouse, accused…

Apr 2, 2009 10:48 AM CDT