Estate

National Association of Realtors Settles Lawsuits, Sparks Major Changes in Real Estate Commission Policies

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Jacksonville, Florida – The National Association of Realtors (NAR) is making significant changes to its real estate policies following a series of lawsuits relating to the setting of agent commissions. The NAR recently agreed to pay $418 million in order to assist home sellers. One of the key changes involves the responsibility for paying the buyer’s agent. Under the new policy, the buyer will be required to pay their own agent unless the seller agrees to do so. Another notable rule modification is the prohibition on disclosing the amount of money agents receive for selling … Read more

Unregulated Lawsuit Lending Industry Sparks Crisis in New York’s Real Estate World

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New York City – An unregulated, multi-billion dollar industry in New York is causing a “crisis” in the real estate world, according to two powerful building and construction groups. The Associated Builders and Contractors (ABC-NYS) and Real Estate Board of New York (REBNY) are calling for reforms to the practice of “third-party litigation lending,” which provides quick cash advances to potential plaintiffs who may not have to repay the money if they lose their lawsuit. “What it’s created is a general liability crisis,” said Brian Sampson, president of ABC-NYS. The groups argue that the industry, … Read more

National Association of Realtors Settles Lawsuit Over Inflated Real Estate Commissions, Potentially Shifting Costs for Homebuyers

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Chicago, IL – The National Association of Realtors has reached a settlement in a legal battle accusing the organization of artificially inflating real estate commissions. This agreement has the potential to significantly impact the amount consumers pay during real estate transactions. Representing approximately 1.5 million real estate agents across the country, the real estate group has agreed to pay a total of $418 million over the course of four years to resolve multiple cases. In addition to the financial settlement, the association has also committed to making changes to the regulations that critics argue have … Read more

Mother Granted Estate Administration as Judge Declares Missing 5-Year-Old New Hampshire Girl Legally Dead, Weeks After Father’s Conviction

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CONCORD, N.H. – A judge in New Hampshire has declared a missing 5-year-old girl legally dead, allowing her mother to assume administration of her estate. This decision comes shortly after the girl’s father was convicted of her murder. The news was made public in an order released by the probate judge on Tuesday, following a court appearance by the mother, Crystal Sorey. The judge determined that Sorey had provided sufficient evidence to demonstrate that her daughter, Harmony Montgomery, was the victim of a “catastrophic event” and that her body has not been found. This ruling … Read more