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Virginia F. Kleist and Daniel Stern owned own lakefront properties within the Chautauqua Shores subdivision. All property owners were subject to covenants and restrictions that were filed in 1962, when the subdivision was developed. The covenants and restrictions give “each and every owner of land in [the subdivision] . . . the right to enforce the same by appropriate court proceedings.” In December 2014, Stern purchased his property with plans to demolish the existing house [...]

A few months ago, a real estate company brought an action against the Securities and Exchange Commission, and apparently the SEC now has been served in the case, known as Platform Real Estate, Inc. vs. United States Securities and Exchange Commission. The federal case was filed in the Southern District of NY. The suit seeks a "declaratory judgment," or a court's interpretation of the law as it applies to a particular situation. The plaintiff is [...]

The last several years have seen a clear trend toward direct investment in real estate by family offices, and away from indirect holdings through private fund investments and the public markets. An oft-cited reason for this shift is the desire of family offices to assert direct control over their investments. However, such control can often prove illusory. This article explores the common pitfalls that family offices encounter when structuring direct real estate investments and provides [...]