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LEGAL MATTERS Legal Matters (Notes) | 9 Months Ended
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Sep. 30, 2019
LEGAL MATTERS [Abstract] |
Legal Matters and Contingencies [Text Block] | LEGAL MATTERS The Company is not presently involved in any material litigation nor, to its knowledge, is any material litigation threatened against the Company or its properties, other than routine litigation arising in the ordinary course of business. As previously reported in the Company’s annual report on Form 10-K for the year ended December 31, 2018 and the Company’s quarterly reports on Form 10-Q for the quarters ended March 31, and June 30, 2019, the Company had been involved in pending litigation related to an action against the Company and certain of its officers in connection with the Company’s November 2016 purchase of a land parcel, alleging breach of contract and other claims in law and in equity. The Company asserted numerous affirmative defenses. In an effort to resolve the litigation, EastGroup made an initial settlement offer for $497,000, which was reserved in the Company’s financial statements as of December 31, 2018 and March 31, 2019. During the three months ended June 30, 2019, the parties came to a mediated resolution of the matter; losses related to the matter are included in Other on the Consolidated Statements of Income and Comprehensive Income. As of June 30, 2019, the matter was resolved. Even though the matter was settled, the case dismissed and releases exchanged among all parties, the Plaintiff has filed an appeal of the order compelling him to comply with the settlement. The Company has moved to dismiss the appeal and the court deferred ruling on the motion, carrying it with the case. The Plaintiff has filed his initial brief and EastGroup will file its answer brief on or before November 15, 2019. Plaintiff will then serve his reply. The court may or may not hold oral argument and will then render its decision. All monies owed under the settlement have been paid to the Plaintiff’s lawyers and were accounted for as stated above.

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- Definition The entire disclosure for legal proceedings, legal contingencies, litigation, regulatory and environmental matters and other contingencies. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 450 -URI http://asc.fasb.org/topic&trid=2127136 + Details
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