Client Alerts

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“Cranston, Rhode Island Institutes New Foreclosure and Eviction Ordinances”
October 2009

The City of Cranston, Rhode Island will be passing its own foreclosure/eviction ordinances as soon as Monday, October 19, 2009. While similar to the recently enacted Providence ordinances, they are sufficiently different that new procedures must be used.

“U.S. Bankruptcy Court for the District of R.I. Adopts Loss Mitigation Program and Procedures”
October 2009

On October 22, 2009, the Bankruptcy Court for the District of Rhode Island issued a General Order announcing the adoption of a court-supervised loss mitigation program (the “Program”) that will go into effect on November 1, 2009.

“Providence, Rhode Island Institutes New Foreclosure and Eviction Ordinances”
July 2009

On July 27, 2009 Providence Mayor David Cicilline approved two ordinances that require foreclosure conciliation and post-foreclosure tenant eviction protections.

“Rhode Island DBR Issues Press Release on Loan Modification Activity”
June 2009

James H. Hahn

On June 15, 2009, the Rhode Island Department of Business Regulation, Division of Banking, issued a press release entitled "Loan Modifications"

“MA Bankruptcy Court Standing Order No. 09-03”
May 2009

Massachusetts Bankruptcy Court Issues Standing Order Addressing Borrower Contact for Loan Modifications and Escrow Issues

“Recent Massachusetts Land Court Cases Delay Foreclosures”
April 2009

A case decided in March 2009 by the Massachusetts Land Court invalidated two out of three Massachusetts foreclosure sales and questioned the validity of the Real Estate Bar Association's (REBA's) Title Standard No. 58 which addresses the issues raised with regard to mortgage assignments and mortgage discharges.

“Governor Amends Rhode Island Mini-COBRA to Extend COBRA Subsidy; Action Required by May 1”
April 2009

Kimberly I. McCarthy

On April 9, Rhode Island Governor Donald Carcieri signed a law permitting any person entitled to State mini-COBRA coverage on or after September 1, 2008 but who hadn't enrolled to enroll between now and May 1, 2009.

“Executors and Estate Tax Return Preparers Get Final Guidance for Valuation of Split-Interest Gifts”
April 2009

About a year after issuing proposed regulations to address the value of assets subject to a split-interest transfer which is includable in the estate of a deceased transferor, the Treasury Department released the final regulations last summer.

“2009 Stimulus Bill: Expansion of COBRA Coverage”
March 2009

Michael A. Gamboli
Kimberly I. McCarthy

One of the many lifelines thrown to displaced workers in the American Recovery and Reinvestment Act of 2009 ("ARRA”) is that the government will now pay for a portion of an ex-employee’s continuation health care coverage available through the COBRA law.

“New Tax Incentives for Land Conservation”
February 2009

Jay R. Peabody

On January 14, 2009, Massachusetts Governor Deval Patrick signed into law the “Land Conservation Incentives Act” (the “Act”), establishing a Massachusetts state income tax credit for landowners who donate qualifying conservation land to a municipality


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