The Consumer Financial Protection Bureau, Federal Reserve Board, and Office of the Comptroller of the Currency announced that the threshold for exempting loans from special appraisal requirements for higher-priced mortgage loans during 2021 will remain at $27,200 (2020’s threshold). Dodd-Frank
Eminent Domain and Real Estate Valuation
The Eminent Domain and Real Estate Valuation blog, published by Fox Rothschild LLP, covers legal issues related to eminent domain, property valuation, and appraisal practices. It addresses topics such as just compensation standards in condemnation cases, appraisal discrimination laws, regulatory thresholds for loan appraisal exemptions, and litigation involving eminent domain takings. The blog also discusses the intersection of federal and state law in eminent domain proceedings, challenges to appraisal board regulations, and municipal use of eminent domain for redevelopment projects. It provides updates on legislative developments, court rulings, and regulatory actions affecting real estate valuation and eminent domain law.
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Illinois Bill Seeks To Address Appraisal Discrimination
By David Snyder
A bill was introduced in the Illinois state legislature to prohibit discrimination in appraisals. HB 5862 states that an appraiser or real estate licensee engages in prohibited discrimination “when he or she considers the actual or perceived race, color, religion,…
Third Cir.: State Law Governs Measure of Just Compensation Standard In Pipeline Case
By David Snyder
The Third Circuit recently held that state law is the standard for determining just compensation in Federal eminent domain cases. In Tennessee Gas Pipeline Co. LLC v. Permanent Easement, a pipeline company condemned property pursuant to a federal statute –…
La. Appraisers Board Can’t Challenge FTC Case Yet: 5th Circ.
By David Snyder
The 5th Circuit ruled that it was premature to review the Louisiana Real Estate Appraisers Board allegation that a Federal Trade Commission action cut into competition. The FTC alleged in its 2017 complaint that the Board interfered with the free…
Pimlico: Baltimore Using Eminent Domain To Take The Racetrack
By David Snyder
Attorneys for the Pimlico Race Course owners say the city of Baltimore is trying to gain control of the racetrack and the signature Preakness Stakes race through eminent domain. The Stronach Group attorneys sent a letter saying the City filed a…
CT Committee Approves Eminent Domain Bill
By David Snyder
A Connecticut legislative committee approved a bill to restrict public taking of private land for economic development purposes. The bill would prohibit state and municipal redevelopment agencies from using eminent domain to take property to be used as part of…
TX Legislator Files Eminent Domain Reform Legislation
By David Snyder
TX State Senator Lois W. Kolkhorst joined several statewide advocates for property rights to announce the filing of Senate Bill 421 which seeks to strengthen Texas property rights. If passed, Kolkhorst said the legislation would create a substantially more fair,…
SCOTUS REHEARS EMINENT DOMAIN CASE WITH KAVANAUGH ON BENCH
By David Snyder
The US Supreme Court reheard oral arguments on whether a property owner can have a federal court decide an inverse condemnation case without first exhausting state remedies. In Knick v. Twp. of Scott, the property owner alleged that the enactment…
Our Team Obtains $1.75M Eminent Domain Jury Verdict
By David Snyder
I recently had a trial regarding a partial taking of a trucks stop located outside of Harrisburg, PA. The Condemnor/Township claimed the damages were $0. We argued that the damages were $1.75M. After a four day trial, a Dauphin County…
Our Bucks County Verdict Is Now Final
By David Snyder
I tried a case in Bucks County, PA involving a condemnation by the Pennsylvania Turnpike Commission. PennDOT claim the property was worth $850,000. We presented evidence that the property was worth $2,300,000. The Jury returned a verdict of $2,300,000 –…