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Title Updates

an FNF Title International Newsletter 


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FNF Title International

 Jason Gordon May 2013        FNTG House Logo 03.21.13    Luxury Mortgage Logo   
Editor: Jason Gordon
FNF Title International
North America
California Echoes:  The Coming (Jumbo) Housing Boom
By David Marinoff.
Luxury Mortgage
There is good news for the Golden State and the rest of the nation. Since the economy imploded in 2008, I must admit that I've been as pessimistic as many others have been about the housing market and the ability of mortgage lenders to effectively finance residential homes. In fact, to further magnify my ominous view, just two short years ago, I was quoted in a New York Times article that "fear and uncertainty have stifled growth" in our communities, especially in California, and as a result, adversely impacting new home purchases and jumbo mortgage residential lending...
Planning for the Non-Citizen Spouse
Submitted by:
Andrew Howard Kahner
UBS Financial Services Inc.

It is not uncommon for a client and/or a client's spouse to be permanent resident of the U.S. but not a U.S. citizen (i.e., a "green card" holder).  A green card holder domiciled in the U.S. is subject to U.S. estate and gift taxes to the same extent as a U.S. citizen.  Unfortunately, however, planning for the transfer of property to a green card holder presents estate planning complications and traps for the unwary.  In particular, most transfers to a non-U.S. citizen spouse fail to qualify for what is known as the "marital deduction" for estate or gift tax purposes (see Internal Revenue Code sections 2056(d)(1) and 2523(i)) ...

Why Canada Can Avoid Banking Crises and U.S. Can't
By Victoria McGrane
Wall Street Journal


Since 1790, the United States has suffered 16 banking crises. Canada has experienced zero - not even during the Great Depression.  It turns out Canada can thank the French for their stable system, according to a paper by Columbia University's Charles Calomiris, presented at the Atlanta Fed's 2013 Financial Markets Conference.

Hines Global REIT Acquires New City Office Complex in Warsaw

Hines Press Release


(WARSAW) - Hines, the international real estate firm, announced today that Hines Global REIT, Inc. has acquired the 481,070-square-foot New City office complex in Warsaw, Poland, from Europejskie Centrum Inwestycyjne (ECI Group), an international holding company. Hines Poland will serve as asset manager and property manager on behalf of Hines Global REIT.
Blackstone Arm Acquires Multi Corp's Debt

By Henry Sender and Ed Hammond

Financial Times


Blackstone's European real estate arm has acquired almost half of the debt of Multi Corp and may soon gain control of the shopping mall developer, according to people familiar with the matter.

On Friday, the ailing Multi Corp - which is headquartered in the Netherlands and builds retail developments across Europe and Turkey - missed an interest payment, which is likely to force bank lenders still holding their loans to take writedowns and sell their exposure.

Prudential Mortgage Capital Company Closes First Commercial Real Estate Loan in the Netherlands
Fort Mill Times


LONDON -- Prudential Mortgage Capital Company has provided $72 million of a total $91.5 million financing package in the Netherlands, its third commercial real estate loan since launching its European business in 2012 and its first in continental Europe. Prudential Mortgage Capital Company is the commercial mortgage lending business of Prudential Financial, Inc. (NYSE:PRU).

Latin America
Amendment to the Mexican Constitution - Fideicomisos for Foreigners
(Americans can now own Property in Mexico's Restricted Zone) 

By Javier Troncso

Bufete Troncoso, Attorneys at Law


On April 23, 2013, the House of Representatives of Mexico approved a historical amendment to article 27 of the Mexican Constitution whereby it now allows foreigners to acquire real estate within the "restricted zone" ...

Special Tax Regime for Real Estate Developments in Brazil

Eduardo Tristao, TKS Advogados


Real estate transactions in Brazil that involve the sale of condominium autonomous units (i.e., residential apartments or commercial suites) under construction are subject to Law 4.591/1964. According to Article 32 of the law, any real estate developer interested in selling condominium autonomous units under construction to third parties must first file a memorial de incorporação before the Real Estate Registry Office, encompassing all of the construction specifications, as well as the terms and conditions on which the construction will be carried out and completed by the real estate developer.

Anti-Bribery in Latin America

Gerardo Gallego Díaz de León, Ibarra del Paso y Gallego


In recent years, international economic transactions have increased both in frequency and amounts in and between the world's various economic blocks. The main factors that have enhanced commercial activity between countries include ...

Wells Fargo and LaSalle Investment Management provide £67 million to Blackstone (UK)
Europe Real Estate
Wells Fargo & Company (NYSE: WFC), the leading commercial real estate lender in the US, has provided £54.3 million (approx. €64 million) in financing to Blackstone, a leading investment and advisory firm, for the acquisition of seven distribution warehouses in core markets across the UK, including the Midlands, North West and Yorkshire.
U.S. Driven Bidding War Seen for Eurohypo's £4bn UK Loan Book
Property Investor Europe
Four bids have been submitted for the Commerzbank-owned, Stg4bn Eurohypo UK commercial property loan book, says investment bank JP Morgan. Predicting huge sales still to come in the sector, it cited US-based groups as interested in the portfolio of the German bank which has halted CRE lending.
Global Shopping Centre Development Grows 15% in 2013
An unprecedented 32 million square metres (sq m) of shopping centre space is currently under construction across the world, representing a 15% increase year-on-year (28 million sq m in 2012), according to the latest research from global property advisor CBRE.
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About Us

FNF Title International is a subsidiary of Fidelity National Financial (New York Stock Exchange Symbol:FNF), and provides title insurance and indemnity for FNF's international customers. With an investment portfolio and reserve for claim losses unrivalled globally in our industry, the FNF group provides financial comfort and stability by mitigating title and mortgage finance risk for the world's leading financial institutions and corporate end-users. For over 160 years customers have relied on FNF companies to provide exceptional risk mitigation through title insurance and indemnity products. 


FNTG House Logo 03.21.13 

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