Ministry of Housing and Urban-Rural Development of PRC issued the Measures on Administration of Lease of the Properties Sold as Commodity ("Measures") on 1 December 2010. The Measures will take effect from 1 February 2011, which will then replace the Measures on Administration of Urban Property Lease promulgated in 1995. The Measures apply to the lease of commodity properties constructed on State-owned land in the planned urban area.

With the revelation that many big lenders were "robo-signing" documents - signing them without verifying the accuracy of the information - to move foreclosures through the process, several banks, including JPMorgan and Bank of America, temporarily halted foreclosures to ensure that all paperwork was in order.

Legislation regarding purchasing of real estate in Turkey by foreign investments have changed many times over the past years. Supreme Court decisions, international or political developments and economic necessities are some of the pushing factors of such amendments.

Occasionally clients say that they cannot be present for a real estate closing, and ask if they can sign their documents in advance. Depending on the circumstances, particularly if the individual is the Seller, the closing agent may be able to accommodate this request and have the documents signed prior to the actual closing date

In February 2010, the federal government established the "Hardest Hit Fund" to provide help to states facing the worst of the financial and foreclosure crisis. The first five states to receive money from the program - Arizona, California, Florida, Michigan and Nevada - all experienced more than a 20 percent decline in the average home price according to the US Treasury Department.

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