By Adam Leitman Bailey and Dov Treiman December 11, 2018 In their Real Estate Trends column, Adam Leitman Bailey and Dov Treiman discuss a pair of new decisions from the Appellate Term, First Department which have toughened the standards under which a landlord may claim a substantial rehabilitation exemption from rent stabilization, the effect Full Article…
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FinCEN Geographic Targeting Order Renewal and Changes
By Rosemary Liuzzo Mohamed The FinCEN Geographic Targeting Order has been extended once again, now until May 15, 2019. With the extension came some new changes to the Order. New counties have been added to the Order. The list now includes residential real property located in Tarrant and Dallas Counties, State of Texas; Cook County, Full Article…
Pay When Paid, Limits and Limitations
By Adam Leitman Bailey and Dov Treiman October 10, 2018 Adam Leitman Bailey and Dov Treiman discuss “Pay-if-Paid” clauses in construction contracts and write: “Like many jurisdictions across the United States, New York outlaws Pay-If-Paid clauses, but, in New York’s case, only indirectly.” Construction projects entail financial risk—risks for the owners of the property, risks Full Article…
2017, The Year of Many New Landlord-Tenant Laws
By Adam Leitman Bailey and Dov Treiman June 12, 2018 Adam Leitman Bailey and Dov Treiman discuss the many enactments related to harassment, bedbugs, and smoking, the first two of which expand tenants’ rights and the final one intended to constrict them. On Aug. 9, 2017 and in the ensuing months, becoming effective at scattered times over Full Article…
New Update to the FinCEN GTO
We have spoken in the recent past about the Financial Crimes Enforcement Network’s (FinCEN) geographic targeting order (GTO). This order requires title companies to gather and disclose certain information pertaining to the identity of the natural person(s) who make up a Limited Liability Corporation (LLC) if they are purchasing a home without a mortgage (all Full Article…
‘Altman’ Alters Vacancy Deregulation
By Adam Leitman Bailey and Dov Treiman May 2, 2018 Adam Leitman Bailey and Dov Treiman discuss the recent landmark Housing Court case ‘Altman v. 285 West Fourth LLC’ where the Court of Appeals reversed the Appellate Division, First Department and deregulated thousands of New York City apartments. On April 26, 2018, the Court of Full Article…
The New World of Prescriptive Easement Cases
By Adam Leitman Bailey and John M. Desiderio April 10, 2018 In their Land Use column, Adam Leitman Bailey and John M. Desiderio discuss how New York appellate courts determine whether or not a party is entitled to claim a prescriptive easement over another party’s land, and review a number of recent cases and claims. As Full Article…
How the New Tax Law Affects the Mortgage Interest Deduction
The Tax Cuts and Jobs Act was signed into law at the end of 2017 and will have an impact on homeowners in the United States. The mortgage interest deduction on a mortgage taken to purchase a home prior to December 14, 2017 allows a borrower to deduct interest on up to $1 million in Full Article…
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