Gilbert v. Residential Funding LLC A homeowner may exercise a right to rescind a mortgage transaction under the Truth in Lending Act by notifying the creditor within the three-year period; the owner is not required to file a lawsuit within the three-year window to exercise the rescission right, and the 4th Circuit reverses a contrary district court decision on a question of law that has split federal appeals courts.
Nahigian v. Juno-Loudoun LLC A Northern Virginia couple can get back their $1.674 million purchase price for a lot in a residential community affiliated with the Ritz-Carlton Hotel company; the 4th Circuit says the buyers can rescind the deal under the Interstate Land Sales Full Disclosure Act and get more prejudgment interest because the developer is not protected by an ILSFDA exemption for developments with less than 100 lots.
North Myrtle Beach v. East Cherry Grove Realty Co. Even though a 1963 court order indicated that certain uplands belonged to defendant, a 1969 court-approved settlement indicated both (1) that canal bottoms within the uplands belonged to the state and (2) that the 1969 settlement-approval order did not affect the 1963 order. The trial court correctly submitted to the jury the issue of ownership of the bottoms of canals within the uplands.
Marzouca v. GFG Realty Fund, LLC The U.S. government filed an indictment against Federick D. Gibbs on Oct. 11, 2011 which sought forfeiture of the real property at issue. Plaintiff commenced his state foreclosure action on Nov. 21, 2011. Pursuant to 21 U.S.C. § 853(k)(2), after Gibbs was indicted...
Yelsen Land Co. v. State A 1967 case determined that the tidelands adjacent to Morris Island belong to the state. The state and the State Ports Authority are in privity, so res judicata bars plaintiff’s claim to any new “highlands” that have accreted in the Morris Island tidelands arising from the Corps of Engineers’ deposits of spoilage dredged from Charleston Harbor.
North Point Development Group, LLC v. South Carolina Department of Transportation Plaintiff sought an encroachment permit to construct a driveway from its property onto U.S. 378. However, plaintiff’s predecessor-in-title, Jeanne Swintz, conveyed to the Department of Transportation “0.570 acre of land, damages, and all improvements thereon...
Highlands Property Owners Association, Inc. v. Shumaker Land, LLC Both the declarant and its successor-in-interest were exempted from the development’s annual assessments “if the instrument of sale or assignment expressly so provides….” An “assignment” of the declarant’s rights to its successor-in-interest was ineffective because it was made 14 months after the sale of the property, when the declarant had no interest in the property left to convey.
RL REGI Financial, LLC v. DDB of Spartanburg, LLC Since the appraisal report commissioned by the plaintiff-lender clearly noted defendant MCC Outdoor’s leasehold interest in the property at issue, the lender had actual or constructive notice of MCC’s prior interest in the property; therefore, the lender’s mortgage is subordinate to the unrecorded leasehold.
Kelley v. Snyder After receiving a deed which purported to convey an easement over plaintiff’s property, defendants used the easement for 19 years before plaintiff filed suit. When tacked on to their predecessors’ use of the easement, defendants can show continuous, uninterrupted use of the easement for more than 20 years.
Watkins v. SunTrust Mtge. Inc. A lender did not violate the Truth in Lending Act when it used a form similar to “Model Form H-8” instead of “Model Form H-9” to notify a borrower refinancing a home mortgage of his right to rescind the transaction, and the 4th Circuit upholds the district court’s dismissal of the defaulting borrower’s TILA claim.
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