Issue No.244, September 22, 2021


EVENTS
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INDUSTRY
New 450-unit housing development will replace Forest Oaks golf course at Lucerne Lakes
The Palm Beach County Zoning Commission voted Thursday to support another golf course conversion — this one west of Lake Worth Beach that would result in a 450-unit residential development replacing the 50-year-old Forest Oaks golf course at Lucerne Lakes.

The Cannabis Administration and Opportunity Act: Too Much Too Soon? Too Little Too Late? Or Just the Right Time?
On July 14, 2021, Senators Chuck Schumer, Cory Booker and Ron Wyden introduced a bill to legalize and regulate cannabis at the federal level, titled “The Cannabis Administration and Opportunity Act.” This short, impactful bill is sure to stir up controversy and polarizing debate among legislators when, and if, it ever reaches the Senate floor.

Kansas Adopts Remote Online Notarization
Governor Laura Kelly signed into law Senate Bill 106 (the Bill or SB 106), which enacts the Kansas Revised Uniform Law on Notarial Acts (RULONA). Most notably, the Bill authorizes the use of remote online notarization (RON) in Kansas. The RULONA is effective January 1, 2022.

The Race Is On for Built-for-Rent Land
Investors are pouring in millions to create more built-for-rent single-family communities. It’s fueling a land rush to find open land.

“Land brokers dealing in residential parcels traditionally sell to developers and builders who are planning communities in which people buy homes,” Forbes.com reported. “Now, they are starting to see a growing share who are buying land to build rental single-family communities.”

Digital mortgage closings could be legal in all 50 states by 2022, expert predicts
Digital mortgage closings – alternatively known as eClosings – were accelerated by the need for homebuyers and mortgage lenders to remain socially distant amid the coronavirus pandemic. Closing on your home loan without having to be physically present when signing documents has certainly increased in popularity – where the ability to do so is legal. But some experts believe that eClosings could be legalized across all 50 states by 2022, as that process and remote online notarizations (RON) gain more traction.

New Jersey Enacts Permanent Rules Allowing Remote Online Notarization
Methods for getting a document notarized were changed temporarily at the outset of the pandemic because it was not practical – or at times even possible – to meet with a notary public in person. Now New Jersey is making that temporary solution permanent.

LEGAL
The Difference Between Waivers And Consents In A Ground Lease
When a property owner enters into a long-term ground lease with a developer tenant, that ground lease typically gives the tenant a great deal of flexibility but also restricts that flexibility in meaningful ways.

Garfield: Ranch owner didn't do homework on road status
Attorneys for Garfield County say that High Lonesome Ranch is blaming the county, federal district court and the Bureau of Land Management for the existence of public roads at issue in an ongoing lawsuit, but Paul Vahldiek Jr., the Texas lawyer who spearheaded the ranch’s purchase, failed to do sufficient pre-purchase due diligence.

New York Federal Court Holds Insured Not Entitled to Coverage Under Title Policy When Statute of Limitations for Potential Challenge to Title Had Run
The United States District Court for the Southern District of New York recently granted the defendant title insurance companies’ motion for summary judgment and found that the insured was not entitled to coverage when the action giving rise to the alleged title defect occurred in 1982 and the statute of limitations for a challenge to title had run.

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What Are The 3 Types Of ‘Takings’ For Eminent Domain Cases In The US?
About to enter eminent domain proceedings? Chances are your case falls into one of the three main ‘taking’ categories defined by your state’s constitution.

WORLD
Error found on land titles map may assist city with noise control enforcement of industry
An error surrounding the title and who owns lands used by CN Rail near Prince Rupert’s waterfront has been discovered due to a local group lobbying for improved noise control from increased train traffic, Prince Rupert Environmental Society (PRES) stated in a press release, on June 17.

Pawnshop mentality won't do, we need new lending models
I recently read the speech given by Jack Ma at the Bund Finance Summit in October 2020. It was shared by the Marcellus Investment Managers team in its newsletter. The speech is now considered to have triggered off a series of events, beginning with the cancellation of an initial public offer by Ma’s Ant Financial, that has led to the ongoing crackdown by the Chinese government on internet companies.

TECHNOLOGY
Facial recognition tech is catching on with banks
More banks are turning to facial recognition as a way of letting people verify their identity. They're responding to changing consumer habits during the pandemic and improvements in the technology.

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What One State’s Tough Stand Against Biometrics Says About Digital Privacy
When night fell, a clerk at a bustling 24-hour Moto-Mart flipped a switch from behind the counter. Electromagnetic locks sealed the doorway. A window sign, now illuminated in red, warned “facial recognition technology in use” and directed customers to “look up at the camera.”

PEOPLE IN THE NEWS
How a real estate conman gained control of a $2 million brownstone
When convicted fraudster Joseph Makhani allegedly hatched a plan to steal a $2.2 million Harlem brownstone in 2012, the home was dilapidated, with a hole in the roof and an elderly owner who spent her days collecting cans on the street.

OTHER TRENDING NEWS
Eccentric ‘Dragon House’ with rotating tower and ‘tail’ for sale
A property that has been dubbed “Dragon House” with its very own tail is back on the market for $540,000. The eccentric structure, which is situated on over 16 acres of land in the city of Saginaw, Michigan, even comes with its own rotating tower.

Blaylock Mansion’s history, as told from a ghost’s perspective
Charlie Hodge gives new meaning to the term ghostwriter. He was hired to collaborate on a coffee-table book about Blaylock Mansion, the former summer residence of a Cominco boss that is now a bed and breakfast just east of Nelson. Instead he wrote a novel narrated by a ghost.