The U.S. Department of Treasury’s Financial Crimes Enforcement Network (“FinCEN”) has implemented a nationwide reporting rule that extends beyond traditional residential closings and may also apply to certain commercial development deals involving entity buyers, vacant land, or alternative financing structures. Developers—even those operating outside of the residential market—should be aware of the Rule and understand
Tacoma Passes Eviction Relief for Some Landlords
After a year of policy review, the City of Tacoma has amended its ordinances to provide some landlords of affordable housing with significant relief from a number of onerous burdens imposed on landlords by the City’s “Landlord Fairness Code Initiative” (For the sake of clarity, we will refer to it as the Tenant Protection Code
4 New Washington Bills Affecting Common Interest Communities That Developers Should Be Aware Of
Washington’s legislators had their eye on common interest communities (CICs) during the 2023 regular session, which ended on April 23, 2023. Three bills relating to or affecting CICs become effective on July 23, 2023. One became effective immediately. Here is a brief summary of the new laws.
Home Builder Alert: Washington Supreme Court Strikes Down One-Year Warranty Limitation in Home Construction Contract
The Washington Supreme Court recently published an opinion that appears to invalidate any homebuyer warranty that requires the buyer to file suit in less than six years. In Tadych v. Noble Ridge Construction, Inc., the owners of a custom home sued their builder for breach of warranty three years after occupying the home. Their