In the state of New York a New York Mortgage Recording tax is due and payable on each mortgage transaction both for purchases and refinances. The mortgage tax rate varies from county to county. In the five boroughs of New York City the rate is 1.8% on mortgage amounts under $500,000.00 and 1.925% on mortgage Full Article…
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The Current State of Attorneys Fees
By Dov Treiman A recent decision of the Appellate Division, First Department, Krodel v. Amalgamated Dwellings, Inc., 166 A.D.3d 412, 88 N.Y.S.3d 31 (2018) inspires us to reexamine New York’s doctrine about recovering attorneys fees in litigation. Krodel itself explores a corner of the “American Rule” that holds that one cannot recover attorneys fees from an adversary in Full Article…
Hogan v. Kelly: Second Department Agrees with the Third and Fourth Departments—2008 Adverse Possession Amendments Are Not to Be Retroactively Applied
By Danny Ramrattan In Hogan v. Kelly, 1 defendants Dorothy and Camille Kelly moved in with Ferdinand Powell (“decedent”) in September 1992 to assist him because of his old age and poor health.2 Decedent held title to the property he and defendants occupied. Defendants thereafter lived with decedent until his death on March 26, 1995. Decedent Full Article…
New Rent Laws Abrogate No-Mitigation Rule in Residential Leases
By Massimo F. D’Angelo July 12, 2019 The recently enacted Housing Stability and Tenant Protection Act of 2019, which Gov. Andrew Cuomo signed into law on June 14, 2019, has now completely abrogated the no-mitigation rule in the context of residential leases. In 1995, the Court of Appeals in Holy Properties Ltd., L.P. v. Kenneth Cole Productions, Full Article…
New Rules of Substantial Rehabilitation to Remove Units from Rent Regulation Part II
By Adam Leitman Bailey Assuming the criterion that the building is substandard or deteriorated has been met, this means that it has conditions that are in violation of law. In New York City, this creates an automatic right by the landlord to have access to the apartment for purposes of curing these violations, that is, to Full Article…
Rules Governing Anticipatory Repudiation of Contracts
By John Desiderio June 11, 2019 In the practice of real estate law today, very few legal issues are getting as much attention and at the same time being applied incorrectly by practitioners as anticipatory repudiation (or breach) of contract. In this article, John Desiderio discusses the rules of anticipatory repudiation and attempts to discard Full Article…
Court of Appeals to Decide Two Cases With Major Landlord-Tenant Implications
By Adam Leitman Bailey and Dov Treiman February 19, 2019 Adam Leitman Bailey and Dov Treiman discuss “Collazo v. Netherland Property Assets” and “Maddicks v. Big City Properties” — two cases which outcomes may signal “potentially enormous changes in how practitioners will practice landlord-tenant law.” In front of the Court of Appeals are two cases which outcomes Full Article…
The New Rules of Seeking a Buyout of a Rent-Regulated Tenant
By Adam Leitman Bailey and Dov Treiman January 29, 2019 The New Rules of Seeking a Buyout of a Rent-Regulated Tenant In their Rent Regulation column, Adam Leitman Bailey and Dov Treiman discuss how recent changes to the New York City Administrative Code along with a recent decision in the Appellate Term, First Department, have Full Article…
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