News & Analysis as of

New Legislation Real Estate Transfers

Flaster Greenberg PC

Changes to “Mansion Tax” and “Controlling Interest Transfer Tax” in New Jersey

Flaster Greenberg PC on

Signed into law by Governor Murphy on June 30, 2025 (effective July 10, 2025), New Jersey Bill S4666 made significant changes to New Jersey’s transfer taxes....more

White & Case LLP

Saudi Arabia Approves Landmark Real Estate Ownership Law for Non-Saudis

White & Case LLP on

Saudi Arabia has approved a landmark new law regulating real estate ownership by non-Saudis, published on July 25, 2025 in the official gazette. This Law of Real Estate Ownership by Non-Saudis will take effect 180 days after...more

Jaburg Wilk

Significant Increase in Arizona’s Small Estate Thresholds

Jaburg Wilk on

In Arizona a party can collect assets in a small estate without having to open a probate through a form commonly known as a “small estate affidavit.” The purpose of Arizona’s small estate affidavit is to provide a simplified,...more

Lathrop GPM

Qualified Spousal Trust: Unique Creditor Protection for Married Couples in Missouri

Lathrop GPM on

Following changes to the federal estate tax law in 2010 – which eliminated the need for separate trusts for married couples to use both spouses’ federal estate tax exemptions – Missouri enacted a new law in 2011 authorizing...more

King & Spalding

Saudi Arabia Introduces New Legal Framework for Foreign Ownership of Real Estate

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On 14 July 2025, the Council of Ministers of the Kingdom of Saudi Arabia issued Council of Ministers Resolution No. (M/14) approving the issuance of the Law on Real Estate Ownership by Non-Saudis (the “New Law”), which...more

Morgan Lewis

New Jersey ‘Mansion Tax’ Changes Impose Higher Transaction Costs on Commercial and Residential Real Estate Sales

Morgan Lewis on

Recent revisions to New Jersey law increase the so-called “mansion tax” for sales in excess of $2 million and shift the tax payment obligation to the seller. Governor Phil Murphy recently signed legislation making...more

Partridge Snow & Hahn LLP

Rhode Island Approves 63% Increase in Real Estate Conveyance Tax in 2026 Budget

On June 17, 2025, the Rhode Island House of Representatives approved the state’s $13.9 billion budget for FY 2026, which includes a substantial 63% increase in the real estate transfer (conveyance) tax. Effective July 1,...more

Troutman Pepper Locke

New Jersey Increases Mansion Tax Rates and Shifts Payment Obligation to Sellers

Troutman Pepper Locke on

On June 30, Governor Phil Murphy signed Bill A5804 into law, amending N.J.S.A. § 46:15-7.2-7.4; N.J.S.A. § 54:15C-1, and introducing significant changes to New Jersey’s realty transfer tax structure. These changes — effective...more

Stark & Stark

Governor Murphy’s Mansion Tax Modification

Stark & Stark on

New Jersey residents are familiar with the “Mansion Tax” and its companion, the “Controlling Interest Transfer Tax,” which were implemented in 2004 and 2006, respectively. The Mansion Tax requires purchasers of certain...more

Bressler, Amery & Ross, P.C.

New Jersey Modifies Mansion Tax on Sales of Real Property

The New Jersey state legislature has passed new legislation, as part of the State’s 2026 fiscal year budget, that directly and significantly impacts sellers and buyers of real property in New Jersey. Previously, a 1% fee...more

Saul Ewing LLP

Philadelphia Increases Realty Transfer Tax Rate to 3.578% Starting July 1, 2025

Saul Ewing LLP on

Effective July 1, 2025, the realty transfer tax rate for properties or acquired real estate companies sold in the City and County of Philadelphia will increase to 3.578%, in addition to the Commonwealth of Pennsylvania realty...more

Harris Beach Murtha PLLC

2023 Connecticut Legislative Updates Impacting Real Estate

The 2023 Regular Session of the Connecticut General Assembly, which concluded on June 7, 2023, saw the passage of several acts that will be of interest to real estate owners and investors. The following is a brief description...more

Miller Canfield

Canada’s Foreign Buyers Ban: What You Should Know About the Ban on Non-Canadians Purchasing Residential Property in Canada

Miller Canfield on

The government of Canada recently passed legislation that effectively bans non-Canadian individuals and corporations from purchasing residential real estate under the Prohibition of Purchase of Residential Real Estate by...more

Katten Muchin Rosenman LLP

Measure ULA – An Additional Transfer Tax on Real Estate Transfers

Measure ULA, also known as the Homelessness and Housing Solutions Tax (HHS Tax), and usually referred to as a "mansion tax," has been approved by voters. The measure creates a new tax on certain property transfers in the city...more

Herbert Smith Freehills Kramer

Important Changes To NYS Transfer and Mansion Taxes

As part of the 2020 budget, the New York State Senate and Assembly enacted new revenue legislation, which included an increase to New York State’s transfer tax and mansion tax on transfers of real property. ...more

Best Best & Krieger LLP

Government Relations Team Gets Passage of Federal Legislation for Local Agency - John Freshman and Ana D. Schwab Advocated on...

Best Best & Krieger LLP on

Best Best & Krieger LLP Director of Governmental Affairs John Freshman and Assistant Director of Governmental Affairs Ana D. Schwab successfully advocated for federal legislation that will allow a land purchase by a resource...more

Miller Canfield

Recent Legislation Further Limits School District Options in Connection with the Sale of Excess Property

Miller Canfield on

Legislation enacted in 2017 and amended last month significantly expands the range of prohibitions on a school district’s ability to influence the future use of real property that it sells or transfers. When disposing of real...more

Lathrop GPM

New Kansas Act Allows Relief for Purchase of Contaminated Property

Lathrop GPM on

On May 9, 2016, Kansas Governor Sam Brownback signed into law the Contaminated Property Redevelopment Act (the “Act”). The goal of this Act is to allow purchasers in Kansas to acquire real property with pre-existing...more

Ward and Smith, P.A.

Some, But Not All: How the North Carolina Planned Community Act affects Pre-1999 Planned Communities

Ward and Smith, P.A. on

In 1999, the North Carolina General Assembly enacted the North Carolina Planned Community Act ("Act") as Chapter 47F of the North Carolina General Statutes. The Act was intended to establish certain rights for property...more

Proskauer Rose LLP

Wealth Management Update - September 2015

Proskauer Rose LLP on

September Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts - The September § 7520 rate for use with estate planning techniques such as CRTs, CLTs,...more

Butler Snow LLP

Back to the Future Interests: Tennessee’s Codification of a Common Law Property Principle

Butler Snow LLP on

On March 19, 2015, Governor Bill Haslam signed into law HB 793/SB1226, which codifies Tennessee case law regarding transfers of future interests in defeasible fee estates such as a “fee simple subject to a condition...more

Ballard Spahr LLP

Senate passes bill exempting condo unit sales from ILSFDA registration

Ballard Spahr LLP on

In May 2013, we reported that the CFPB’s amicus program scored a victory when the U.S. Court of Appeals for the Second Circuit ruled that the sale of a single-floor condominium unit in a multistory building was subject to the...more

Ballard Spahr LLP

Condominium Unit Sales Exempt from Registration under ILSFDA

Ballard Spahr LLP on

The sale of condominium units will no longer be subject to the registration requirements of the Interstate Land Sales Full Disclosure Act (the ILSFDA) under a bill passed by both houses of Congress. Barring a veto, the new...more

K&L Gates LLP

A New Era for Property Transactions in Queensland – Property Occupations Act 2014 to Replace PAMDA

K&L Gates LLP on

New Legislation Replacing PAMDA - The Property Occupations Act 2014 (POA) was passed on 6 May 2014. The date of commencement has not yet been announced or proclaimed. Those familiar with property transactions in...more

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