Philadelphia Metropolitan Area Real Estate Law Blog

Title Insurance is an important protection for both owners and buyers in real estate transactions. Title insurance, as the name suggests, insures the policy holder against financial loss stemming from defects in title to real property. Many times these title defects are hidden to those involved in a transaction. Examples include improper legal description of the property, forged signatures, falsification of records, and title being taken by the wrong person after an improperly probated will.

Have you put down roots in Philadelphia by purchasing a residence? Have you been there for 10 years? You could be getting a little more money back in your pocket, said Mayor Michael Nutter on Tuesday, Dec. 3. How? By way of the implementation of PHL Tax LOOP, a program that addresses the significant property tax increases that have occurred in the recent past.

Completing a real estate transaction can prove to be a positive move for both the seller and buyer. If the seller is looking to liquidate assets to have more funds on hand, a buyer can be of great service. At the same time, purchasing property can prove to be a sound financial investment for the buyer. This process can be completed in a fair and consistent manner so both parties can benefit the most.

A federal judge in Philadelphia has determined that a class action lawsuit against HSBC USA Inc. and others can proceed — for now. The court was ruling on a motion to dismiss filed by the mortgage lender. The plaintiffs are not out of the woods yet, though: Down the road, HSBC could file a motion for summary judgment which, if granted, would put an end to the litigation.

Philadelphia, like just about every other major metropolitan area in the country, has suffered from a lagging real estate market as ripples of the Great Recession continue to affect potential buyers and sellers of property. But, a few recent high profile commercial real estate transactions in Philadelphia could indicate that the market is again on the upswing.

An empty factory in the 1000 block of Frankford Avenue has been targeted by a real estate developer as a good location for the center point of a music and dining complex covering many blocks. The project is located across Delaware Avenue from SugarHouse Casino, at the old Ajax Metal Co. building.

One of 23 schools set to close at the end of this school year as part of the Philadelphia School District’s plan to consolidate its facilities, community leaders, lawmakers, real estate experts and citizens are all putting in their two cents on the issue of how to put the property to use. Built in 1914, Germantown High covers almost an entire block.

A recent article in the Wall Street Journal took a look at the changing face of the rental market, and it looks like changes may be ahead for landlords.

As a recent article in the Philadelphia Inquirer pointed out, it has been nearly one year since Philadelphia’s new zoning code became law. The new code was a huge accomplishment, having simplified, clarified and modernized the way zoning is handled after enduring years of an outdated system.

An interesting angle has arisen in regard to the recent increase in Property Tax Assessments this year. That angle involves public school teachers and planned cuts to teacher contacts in the City of Philadelphia. Under the plan, the district would cut pay up to 13 percent, require longer work days and put no limit on class sizes. In addition, the district would not provide teachers with copy machines, desks or even enough instructional materials and textbooks. Why is the district proposing the plan now? Because of a budget crisis that could get worse with forced spending cuts. Like most states