Real Estate Law Section

The section monitors, studies and proposes statutory developments in property law and keeps its membership updated by sending periodic e-newsletters. It also produces annual CLE programming for real estate lawyers and others.

Bradley Arant Boult Cummings LLP
P. O. Box 340025
Nashville, TN 37203

Court to Consider When 2nd Mortgage Can Be Void

The U.S. Supreme Court said Monday it will decide whether homeowners who declare bankruptcy can void a second mortgage if the home’s market value has dropped below the amount they owe on the first mortgage, the Memphis Daily News reports. The case involves Florida homeowners who were allowed to nullify second loans held by Bank of America. The Atlanta-based 11th U.S. Circuit Court of Appeals affirmed both cases, but Bank of America says the rulings conflict with Supreme Court precedent and the rulings of other appellate courts that have considered the issue.

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Nashville Law Gives Neighbors Regulation Tool

Metro Council passed a new law adopting the so-called contextual overlay district, giving Nashville communities another tool to help regulate development. Supporters say it will combat new buildings that chafe against neighborhood fabric. The new law places restrictions on what builders can do in terms of height and width, taking into consideration the average shape of homes on either side of a proposed development. It’s not a blanket law; residents apply to be considered for the overlay. A vocal critic of the contextual overlay district said it will likely stagnate property values and create hurdles to home renovations. Nashville Public Radio has more.

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