According to this story in the San Francisco Chronicle, “Eminent domain plan may have spooked investors,” Richmond, California’s plan to take underwater mortgages by eminent domain “Wall Street spurned its efforts to refinance its highly rated municipal bonds [A-minus rating], an unusual snub that cost the city nearly $4 million in lost
Materials From Today’s Eminent Domain In Hawaii Conference
Here are links to the cases and other materials (and more) we spoke about at today’s conference on Eminent Domain and Condemnation in Hawaii:
- Ilagan v. Ungacta (Guam v. 162.40 Square Meters of Land)
- Ilya Somin, The Judicial Reaction to Kelo, 4 Alb. Gov’t L. Rev. 1 (2011)
- Ilya Somin, The
Berman. Poletown. Kelo. Richmond. When Will They Ever Learn?
Check this out: according to a story in yesterday’s San Francisco Chronicle (“Pricey homes in Richmond’s eminent domain plan“), someone has figured out exactly which properties in Richmond, California are going to get “helped” by Mortgage Resolution Partners and the city in their plan to take underwater mortgages by eminent domain.
Seems like
Mortgage Taking Tuesday – Mission: Impossible?
Your mission Dan, should you decide to accept it, is to review the competing op-eds about Mortgage Resolution Partners-backed plan for municipalities to take underwater mortgages by eminent domain, and decide which ones are good, and which ones are full of it.
Guest Post: More On The Two Federal Lawsuits Challenging The Underwater Mortgage Taking Scheme
Here is a deeper look at the two lawsuits filed lastweek in U.S. District Court in San Francisco against the City ofRichmond, California, for the city’s Mortgage Resolution Partners-backed plan to condemn underwater mortgages, specifically those held by out-of-state securitizedbonds, residential mortgage-backed securitization (RMBS) trusts. The first Complaint was brought by Wells Fargo and a
The Other Shoe Drops: Banks Sue Richmond, California Over Mortgage Eminent Domain Scheme
Today’s the first day of the ABA Annual Meeting in San Francisco, so we haven’t had time to do more than scan the Complaint for Declaratory and Injunctive Relief, filed yesterday in San Francisco federal court, challenging the plans of Mortgage Resolution Partners and the City of Richmond, California to take underwater mortgages by
New Jersey Explains Prior Public Use And Railroad Takings
Here’s the latest from the New Jersey Supreme Court on the power of railroads to take property, and when land is already being put to a “prior public use” and thus immune from being taken.
In Norfolk Southern Railway Co. v. Intermodal Properties, LLC, No. A-117-11 (Aug. 6, 2013), the court held that the
If This Wasn’t So Depressing (And Predictable), It Might Be Funny
Update: From the July 13 WaPo: As Wal-Mart threatens to walk, what’s next for a dying shopping center? (“The Skyland Shopping Center in Southeast Washington is amost dead. Shops are shuttered and windows broken.” Gee, we wonder why?). See also Gideon Kanner’s thoughts on the story at “Another Kelo Case in the Marking?”
2014 Planning, Law, And Property Rights Conference – Haifa
Another date to save on your calendar: the 2014 Conference of the International Academic Association on Planning, Law, and Property Rights will be held from February 11-14, 2014 in Haifa, Israel, at Technion-Israel Institute of Technology. The Conference will include the usual presentations, plus day-long workshops, and excursions. You don’t need to be
Cal App Tackles Pretext … But Not Eminent Domain Pretext
This is a long one from the California Court of Appeal, Fourth District (58 pages, with an 11-page dissent), so we’re not going to go into detail. But if a local government’s conflict with an all-powerful state agency, shoreline and coastal law, or how the concept of governmental “pretext” is treated in areas outside of