On July 30, 2008, President George Bush signed into law H.R. 3221, the Housing and Economic Recovery Act of 2008 ("HERA"). HERA generally becomes effective on October 1, 2008, although some parts become effective January 1, 2009 or thereafter. The Act includes the creation of an oversight board consisting of the U.S. Treasury, HUD, the Federal Reserve Board, and the FDIC.
A new regulator, the Federal Housing Finance Agency ("FHFA")will have oversight authority over Fannie Mae, Freddie Mac, and the Federal Home Loan Banks.
Friday, August 29, 2008
Monday, August 25, 2008
Partial Distribution of Marital Assets and Liabilities
Session Law Ch 2008-46 (SB 1474) was effective July 1, 2008 and amended section 61.75, Florida Statutes. This amendment provides for the partial distribution of marital assets and liabilities in a dissolution of marriage case. All personal property titled as tenants by the entireties is to be presumed to be a marital asset.
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