Issue No.249, October 27, 2021


EVENTS
Look For NEW Events Posted Since The Last Issue!
INDUSTRY
PROACTIVE STEPS FOR REALTORS® TO DEVELOP A STRONG CYBERSECURITY POSTURE
Cybercrime is increasing in frequency and severity across industries. In 2020, the FBI’s Internet Crime Complaint Center (IC3) received a record 791,790 cybercrime complaints with reported losses exceeding $4.1 billion. This represents a 69% increase in total complaints from 2019. As reliance on digital technology continues to increase, so will cyberthreats.

Commercial Real Estate Receiverships: History, Factors, and Types of Receiverships
Historically, receiverships for commercial real estate were used to collect rents and fees generated by income-producing properties prior to the completion of foreclosure sales on those properties. While receiverships are still being used for that purpose, receiverships also may be used as an alternative to foreclosure, as a method to actually sell real estate collateral.

Real Property, Financial Services, & Title Insurance Update: Week Ending October 8, 2021
Bert Harris Act: Certifying question whether the 2021 amendment to the Bert J. Harris Jr. Private Property Rights Protection Act clarifies the existing law so that plaintiff may maintain an action under the act where plaintiff owned property when plaintiff filed a claim but was divested of ownership before trial – Dean Wish, LLC v. Lee Cnty., No. 2D19-4843 (Fla. 2d DCA Oct. 6, 2021) (affirmed; question certified)

LEGAL
Court Holds That Trust Owned Mineral Interests And Not The Settlor’s Wife
In Moore v. Estate of Moore, a decedent’s wife claimed that she had an interest in an oil and gas lease formerly owned by her deceased husband. No. 07-20-00019-CV, 2021 Tex. App. LEXIS 6142 (Tex. App.—Amarillo July 30, 2021, no pet. history). The decedent’s children were the trustees of a trust that was the residuary beneficiary of the decedent’s will

What To Do With Racial Deed Covenants Plays Out In Washington’s Highest Court
Today’s contemporary reminder of why CRT is a thing: the Washington Supreme Court is going to decide on what to do with deeds involving historic racial covenants. Homeowner Alex May wanted an employee of Spokane County to remove the ban preventing anyone who is not white from using or occupying “any building on any lot.”

Illinois Federal Court Dismisses Plaintiffs’ Aiding and Abetting and Negligence Claims Against Title Insurer After Plaintiffs Claim Fraud in Property Sale
The United States District Court for the Northern District of Illinois recently granted a title insurance company’s motion to dismiss claims for aiding and abetting fraud, negligent misrepresentation, and negligence, finding that the plaintiffs had not alleged sufficient facts to sustain any of their claims. See Amran Prop. Invs., LLC v. Fid. Nat’l Title Grp., Inc., 2021 WL 3883087 (N.D. Ill. Aug. 31, 2021). 

Read More Free registration required to read
What is a ‘Quick Take’ in Eminent Domain Law?
By and large, the default for eminent domain cases is paid compensation before a property is taken, and after a court has reached a verdict about the value of that compensation. However, there is one common ‘exception’ to this rule, known as “quick take.”


Trustee May Be Individually Liable for Lead Paint Poisoning
Bank of New York Mellon, as trustee of a residential mortgage-backed securitization trust that held a deed of trust on a Baltimore City house, docketed a foreclosure action on November 21, 2001. The house was sold to the trustee in an auction sale on December 27, 2001, and the Circuit Court for Baltimore City ratified the sale on February 5, 2002.

Read More Free registration required to read
WORLD
Evergrande and property speculation force Beijing to consider an idea that’s radical in China: Taxing real estate
Earlier this year, Chinese President Xi Jinping dispatched top deputy and senior vice premier Han Zheng to expand property tax experiments in more cities in an effort to potentially impose a real estate tax nationwide, according to the Wall Street Journal.

TECHNOLOGY
Lennar Homes’ Plans To Build A Neighborhood Of 3-D Printed Homes In Austin
3D-printed housing has arrived, and is ready for the big time. Homebuilding giant Lennar Homes has committed to building the largest neighborhood of 3D-printed homes yet developed. Breaking ground in early 2022 in the Austin area, the 100-home innovative community is co-designed by BIG-Bjarke Ingels Group, using ICON’s building technology.

Download the 2021 Title Technology special report
The pandemic brought some industries to a halt. The title space, however, accelerated its adoption of digital tools and other technological innovations practically overnight to keep up with the housing market boom and to conduct COVID-safe closings

Read More Registration required to download
PEOPLE IN THE NEWS
ALTA’s ‘Godfather of Advocacy’ Honored for Advancing Title Industry
John Voso Jr. NTP was recognized for his dedication to advocating for the title industry during the 2021 ALTA ONE in New Orleans.

ALTA Honors Evans With Honorary Membership

ALTA Past President Diane Evans NTP received an ALTA Honorary Membership during ALTA ONE, Oct. 13-15 in New Orleans.

OTHER TRENDING NEWS
Judge halts sale of apartment complex where freed slaves graves were buried beneath parking lot
A community coalition in Maryland has provided "overwhelming evidence" that a portion of a suburban Washington apartment complex was used as a burial ground for freed Black slaves and their descendants and "many bodies likely still remain on the property," a state judge ruled Monday in a case by the group to thwart the sale of the property.

'I Die': The Bizarre Tale of the S.S. Ourang Medan
In May 1947, vessels passing through the bustling shipping route in the Straight of Malacca near Indonesia supposedly reported a crackling, desperate voice coming through their communications channels.

Can Kansas cops seize cash from legal marijuana sales in Missouri? A federal judge will decide.
A Pennsylvania company is asking a federal court to return about $166,000 in proceeds from marijuana sales in Missouri that was seized by law enforcement in Kansas as the cash was on its way to Colorado.

Stunning Weather Photography In The Royal Meteorological Society’s New Book
Absolutely breathtaking. Weather – A Force of Nature: Spectacular images from Weather Photographer of the Year is a compilation of the best photos from the Royal Meteorological Society’s competition on diverse weather conditions. This is the first photobook that contains the most powerful and dramatic images from the competition.