Money and Dirt: Reviewing 2016
Here is a look back at some of the top real estate and secured lending developments from 2016 covered here at Money and Dirt:
- The California Supreme Court issued its decision in Coker v. JPMorgan Chase Bank, clarifying the scope of anti-deficiency protection under Code of Civil Procedure section 580b for purchase money loans. See prior post here: California Supreme Court Clarifies Anti-Deficiency Protection for Purchase Money Loans
- The California Supreme Court issued its decision in Yvanova v. New Century Mortgage Corporation, in which it held that borrowers have standing to allege wrongful foreclosure based in a void note assignment. See prior post here: California Supreme Court: Borrowers Have Standing to Allege Wrongful Foreclosure Based on Void Assignment Of Note
- Court of Appeal decisions have narrowed Yvanova by holding that under New York law, a defective note assignment is merely voidable, not void. See prior post here: Yvanova Post-Script: It’s Not So Easy For Borrowers To Challenge Foreclosure Based on Defective Assignment of a Deed of Trust
- The United States Supreme Court held that or purposes of determining diversity jurisdiction, a REIT has the citizenship of its members. See prior post here: U.S. Supreme Court: REITs Have Citizenship of their Members
- REITs got their own newly-created sector in the S&P. See prior post here: REITs Get Respect from the Market — a New Sector Home
- California Courts of Appeal continue to refine the law on every real estate owner/investor’s worst nightmare — dedication of private property to the public. See prior post here: Another Case Addressing a Potential Trap for Real Estate Investors: Dedication of Private Property to the Public
- The proposed Uniform Commercial Real Estate Receivership Act gained steam. See prior two-part post here: The Uniform Commercial Real Estate Receivership Act (Part 1) — Pathway to “Receiver Sales” of Real Estate Security? And here: The Uniform Commercial Real Estate Receivership Act (Part 2) — Would “Receiver Sales” Conflict with California Law?
- One Court of Appeal opinion held that just because a deed is void doesn’t mean it can be challenged “any time.” See prior post here: Just Because a Deed is Void Doesn’t Mean It Can Be Challenged “Any Time”
- Evading liability on a guaranty by arguing that the guaranty is a “sham” remains a tough sell. See prior post here: Sham Guaranties Are (Still) Hard To Come By
- CC&Rs are not to be messed with. See prior post here: Beware CC&Rs — They Can Bite
- The California Supreme Court clarified “associate licensee” duties in connection with a dual agency. See prior post here: California Supreme Court Weighs In On “Associate Licensee” Duties in Dual Agencies
- Real estate crowdfunding continues to gather steam. See prior post here: The Evolution of Real Estate Crowdfunding — Some Links
Happy New Year!