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Latest Updates / Real Estate
April 8, 2024
Terry Almozlino Arnon Interviewed by Relevant about Third Apartment Tax
Terry Almozlino Arnon, the head our firm’s Real Estate Department, was interviewed by new Israeli media channel Relevant about renewed plans for a third apartment tax. She noted, “Reducing purchase tax will stimulate the market. A serious boost of encouragement is needed, even for a short period.”
March 31, 2024
Pinui-Binui: Court Rules in Favor of Recalcitrant Tenants in Pinui-Binui Project
In an exceptional step, an Israeli court dismissed a claim filed by 243 residents against a couple in its 70s who refused to sign an agreement for a pinui-binui project. Part of the court’s rationale had to do with the couple’s age. Alon Wolner, a partner in our Real Estate Department, was interviewed by Globes about the case. Alon noted, “The court sided with the couple opposed to the project, even though they do not meet the law’s definition, and should not technically receive an elderly persons designation. The ruling thus provides an escape route, by allowing the couple to receive this designation, and enabling the project to proceed.”
March 13, 2024
Terry Almozlino Arnon Attends Dun’s 100 Real Estate Forum
Terry Almozlino Arnon attended the Dun’s 100 forum for senior legal professionals in the real estate field. She noted, "Real estate is a main artery in the economy and there is no area it does not touch. A real estate slowdown simulates a clogging of the arteries, and just as the body cannot survive long in such a state, neither can the economy." To continue reading, click here.
February 1, 2024
Critique of Proposed Amendment to Real Estate Taxation Law – Terry Almozlino Arnon Interview with ICE
"The goals of the amendment are important, but this is not the way to achieve them." Terry spoke with ICE about the Ministry of Finance's plan to impose additional burdens on the market for investment apartment buyers with the hope to increase housing supply and reduce prices. "To invigorate the real estate market, specific incentives, such as mortgage benefits, should be implemented," Terry proposed instead.
December 25, 2023
Barnea: Representing Aviv Group in Investment Transaction
Ilan Blumenfeld, Terry Almozlino Arnon, Alon Wolner, and Daniel Kleinman represented Aviv Group in a ILS 45 million investment by Menora Mivtachim in Aviv Group’s ILS 1.2 billion skyscraper project in Herzliya.
December 11, 2023
Barnea: Counsel in Israel’s Most Expensive Real Estate Transaction in October 2023
Alon Wolner and Shoval Mandel, provided legal representation in the purchase of a Tel Aviv penthouse for over ILS 22 million. This was the most expensive real estate transaction in Israel in the month of October.
November 12, 2023
Operation Swords of Iron: Rise in Diaspora Jews Purchasing Real Estate in Israel
Recently, and against the backdrop of the ongoing Israel-Hamas war, there has been an increasing number of diaspora Jews purchasing apartments and properties in Israel. Along with other experts in the field, Liat Keisary, the head of our firm’s Private Clients Department, was interviewed by Ynet for an article on the subject. Liat explained that this trend, along with the weakening of the shekel, is expected to lead to a sharp increase in the purchase of luxury properties in Israel.
October 5, 2023
NPOs Receive Exemptions from Real Estate Betterment Levies
The Israeli Supreme Court has ruled that NPOs are entitled to receive an exemption from real estate betterment levies, provided they use the proceeds from the sale of such real estate for a public purpose specified in the law.
September 26, 2023
Condominium Apartment and Electric Vehicle Charging Stations
The Tel Aviv Land Registry’s Supervisor rejected a claim for the removal of infrastructure for an electric vehicle charging station installed in a parking space attached to an apartment in a condominium.
September 13, 2023
What to Know about Joining a Purchasing Group – Alon Wolner Interview with Bizportal
For years, the purchasing group trend made transactions to purchase an apartment more viable. Today, as part of the drive to deal with sky-high housing prices, the trend has seen a resurgence. As an expert in the real estate field, Alon Wolner was interviewed by Bizportal on the subject. Alon noted that “naturally, when there is an attempt to lower prices, creative solutions are sought, but we should remain aware of the risks inherent in purchasing groups.”
August 31, 2023
Who Owns the Building Rights?
An important ruling handed down by the Israeli Supreme Court clarifies how specific rights holders acquire additional or future building rights in real estate assets.
July 17, 2023
Barnea: Representing 120 Apartment Owners in Pinui-Binui Project against Three Recalcitrant Owners
Lawyers from our firm’s Real Estate Department, are advising apartment owners in a residential complex designated for pinui-binui in Herzliya. They represented a group of about 120 apartment owners in court against three recalcitrant owners who are objecting to the project due to their demand for higher recompense from the contractor. The court made the extraordinary decision to order the recalcitrant owners to pay NIS 7.8 million in compensation (NIS 2.6 million apiece). In addition, each recalcitrant owner was ordered to pay NIS 20,000 for legal expenses.
July 15, 2023
Representing Aviv Group in ILS 1.1 Billion Financing Agreement
Terry Almozlino Arnon, Alon Wolner, and Nadav Shoshan represented Aviv Group in a financing agreement for the purchase of land for the construction of 733 housing units in Herzliya. The scope of the financing agreement is over NIS 1.1 billion.
June 8, 2023
Simulated Contracts and Concealed Agreements
The Israeli Supreme Court’s ruling contains strict determinations regarding simulated contracts whose sole purpose is to defraud the tax authorities and the banking system. Inter alia, the Supreme Court addressed an ongoing judicial debate about the classification of simulated contracts.
May 18, 2023
Terry Almozlino Arnon Op-Ed: Supreme Court Rules to Invalidate Artificial Agreements
In a new ruling, the Supreme Court takes a step forward in declaring artificial agreements as invalid and illegal. (An artificial agreement is an agreement in which there is a discrepancy between the apparent agreements of the parties, as embodied in the contract, and their true will and intention.) Terry Almozlino Arnon, head of our firm’s Commercial Real Estate Department, sheds light on the subject in an op-ed for Globes.
April 2, 2023
Dissolution of Real Estate Partnership: Terry Almozlino Op-Ed in Globes
A recent Supreme Court ruling found that during the dissolution of a real estate partnership, it is preferable to issue a decision already during the pre-trial hearing. As an expert in the field of commercial real estate, firm partner Terry Almozlino Arnon published an op-ed in Globes analyzing the ruling.
February 23, 2023
Terry Almozlino Arnon Participates in Dun’s 100 Real Estate Forum
Terry Almozlino Arnon, head of our firm’s Commercial Real Estate Department, participated in the Dun’s 100 forum for senior legal professionals in the real estate field. The forum brought the professionals together to address burning issues in the industry. Topics of discussion this year included Israel’s housing crisis and the continued increase in interest rates.
February 6, 2023
Buying an Apartment “On Paper” – Caveat Emptor?
A new Supreme Court ruling reverses a district court decision, while imposing heightened liability and an enhanced duty to disclose information on “on paper” apartment sellers.
January 23, 2023
Contractor’s Insolvency during a Real Estate Project – How to Minimize Damages?
When a performance contractor in a real estate project becomes insolvent, the developer must make decisions and take a series of measures. It’s important to understand the legal implications of such measures and in what instances they could expose the developer to the filing of legal actions by the insolvency trustee appointed to the contractor.
January 1, 2023
2022: Trends in Real Estate Law in Israel
The uptrend in Israel’s housing prices continued in 2022. It appears we are only now beginning to feel the outgoing government’s measures. In the regulatory arena, amendments to the Sale Law (Apartments) should begin affecting the balance of powers between buyers and sellers of new apartments.