Real Property
A judicial taking?
November 24, 2009 07:59 AM
Today's Washington Post has a story about an
interesting case in which certain property owners
claim that Florida's beach restoration program has
resulted in a "judicial taking," because their homes
are no longer waterfront properties. (Click here.) The U.S. Supreme Court
hears arguments in the case next week. "Justices
will examine a concept they have pondered for
more than 40 years without resolution: whether a
decision by the judicial branch, rather than the
executive or legislative, can create the kind of
taking of private property forbidden by the
Constitution." The case is Stop the Beach
Renourishment Inc. v. Florida Department of
Environmental Protection.
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Condo-hotel unit as a "security"
August 05, 2009 08:44 AM
The Wall Street Journal
has an interesting article today about buyers of
condominiums in hotels filing lawsuits in which
they allege violations of securities laws by
condo-hotel developers. At issue is whether the
sale of a unit involves the sale of a “security.”