Comments on: U.S. Treasury: Putting the ‘Short’ Back in Short Sales? http://www.nyrelawyers.com/2009/12/u-s-treasury-putting-the-short-back-in-short-sales/ Thoughts, Musings, Analysis on Law & Real Estate Tue, 03 Jan 2012 06:13:28 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Don’t Believe the Hype: FHA’s Temporary Waiver of 90 Seasoning Rule | Blackacre 2.0http://www.nyrelawyers.com/2009/12/u-s-treasury-putting-the-short-back-in-short-sales/comment-page-1/#comment-242 Don’t Believe the Hype: FHA’s Temporary Waiver of 90 Seasoning Rule | Blackacre 2.0 Sun, 17 Jan 2010 17:15:30 +0000 http://www.nyrelawyers.com/?p=138#comment-242 [...] Perhaps the Treasury will revise its Directive and remove this offending language (which, as I had discussed previously, is extremely [...] [...] Perhaps the Treasury will revise its Directive and remove this offending language (which, as I had discussed previously, is extremely [...]

]]> By: Kathleen A. Scanlonhttp://www.nyrelawyers.com/2009/12/u-s-treasury-putting-the-short-back-in-short-sales/comment-page-1/#comment-67 Kathleen A. Scanlon Sun, 06 Dec 2009 23:11:57 +0000 http://www.nyrelawyers.com/?p=138#comment-67 The problem is that a retail buyer is usually not receiving an assignment of Beneficial Ownership but a deed from the Trustee so the trust would not be viable as an alternative in these types of transactions. However, this is very preliminary analysis at this point. The 90 day restriction is, in essence, a restraint on alienation. Further, there may be language to be added to the contract that might negate same.As far as property listing, you can easily see which industry has a very strong lobby.. The problem is that a retail buyer is usually not receiving an assignment of Beneficial Ownership but a deed from the Trustee so the trust would not be viable as an alternative in these types of transactions. But, this is very preliminary analysis at this point. The 90 day restriction is, in essence, a restraint on alienation. Further, there may be language to be added to the contract that might negate same.

As far as property listing, you can easily see which industry has a very strong lobby..

]]> By: Nicholas Bentivogliohttp://www.nyrelawyers.com/2009/12/u-s-treasury-putting-the-short-back-in-short-sales/comment-page-1/#comment-66 Nicholas Bentivoglio Sun, 06 Dec 2009 22:26:32 +0000 http://www.nyrelawyers.com/?p=138#comment-66 Interesting and informative post!! With any kind of luck the 90 re-sale restriction may have language that forbids a transfer of Title, in which case Land Trust usage will increase dramatically and will provide a loop hole. The only difference is that end buyers will be accepting conveyance by Assignment of B.I instead of a conveyance of Title...might be a pain in the arse getting their attorneys to agree!It also irritates me that the property has to be listed...still there may be a way around that also... Fascinating and informative post!! With any kind of luck the 90 re-sale restriction may have language that forbids a transfer of Title, in which case Land Trust usage will increase dramatically and will provide a loop hole. The only difference is that end buyers will be accepting conveyance by Assignment of B.I instead of a conveyance of Title…might be a pain in the arse getting their attorneys to agree!

It also irritates me that the property has to be listed…still there may be a way around that also…

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