Real Estate Law Blog

New 2016 ALTA/NSPS Survey Standards Now In Effect

In the real estate survey world, boundaries are shifting. In October of 2015, the American Land Title Association (“ALTA”) and National Society of Professional Surveyors (“NSPS”)[1] approved the 206 Minimum Standard Details Requirements for ALTA/NSPS Land Title Surveys, and these became effective as of February 23, 2016. There are a number of changes to the required surveys designed to create a more easily understood plat and thwart potential miscommunication among surveyors, title companies, clients and lenders.

[1] It should be noted that the NSPS is a successor organization to the American Congress on Surveying and Mapping (“ACSM”), so these standards are an update to the prior “Minimum Standard Detail Requirements for ALTA/ACSM Land Title Surveys.” More >

New Accounting Standards from FASB Create Big Changes for Leases

In February, The Financial Accounting Standards Board (“FASB”) issued an Accounting Standards Update (“ASU”) addressing financial reporting about transactions involving leases. These new accounting standards have been in gestation for many years, and any company that leases any property, from equipment to real estate, will be affected by them. More >

Regulatory Takings Cases and the Relevant Parcel: Murr v. Wisconsin

This summer, in Murr v. Wisconsin,[1] the United States Supreme Court will make an important decision on property rights and regulatory takings under the Takings Clause of the Fifth Amendment of the U.S. Constitution. At issue in the case is whether two legally distinct parcels of land can be treated as one for regulatory purposes if they share common ownership. In a time when planning and zoning regulations change sporadically, this case has broad implications for owners of commercial property, farmers, developers, mining operations and others that hold legal title to adjoining properties, so these groups should pay particular attention to this case.

[1] Murr v. Wisconsin, 359 Wisc. 2d 675 (Wis. App. 2014), rev. denied, 862 N.W.2d 899 (Wis. 2015) More >