By Adam Leitman Bailey As counsel to numerous condominium unit buyers seeking relief under the federal Interstate Land Sales Full Disclosure Act (ILSA), including the prevailing plaintiffs in the Bacolitsas and Indomenico cases cited in the article, “Applying ILSA to Sales of Condominium Units,” by Todd E. Soloway and Luisa K. Hagemeier, (Jan. 11), I Full Article…
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The Martin Act ‘Shield’ and Private Fraud Actions, New York Law Journal
By Adam Leitman Bailey and John M. Desiderio On Dec. 20, 2011, the New York Court of Appeals, in Assured Guaranty (UK) LTD v. J.P. Morgan Investment Management Inc.1 finally put to rest a see-saw controversy that, for nearly a quarter century, had engendered much litigation in both the lower state courts and in the Full Article…
Avoid Getting Sued: Check Out Rental Application, New York Housing Journal
By Adam Leitman Bailey and Dov Treiman A recent spot check of our clients’ rental applications led to some shocking results. Every rental application we checked included features that were an expensive lawsuit waiting to happen. There are about 20 grounds for forbidden discrimination in rental housing in New York City. Every rental application examined Full Article…
Collecting Common Charges in Co-ops and Condos, The Cooperator
By Adam Leitman Bailey While for many lay people, cooperatives and condominiums are essentially interchangeable, from the legal point of view they are radically different institutions. Much of this difference can be attributed to history. Co-ops have existed in one form or another for a thousand years; condos have only been around for 50. As Full Article…
Certifying Professionals May Be Subject to Lawsuits, New York Law Journal
By Adam Leitman Bailey and John M. Desiderio Assured Guaranty1 and Kerusa2 decisions, the New York Court of Appeals has made it clear that preemption is no longer an issue in private securities and real estate syndication cases where plaintiffs allege common law causes of action that overlap possible violations that only the attorney general Full Article…
Condo Arrears? Try DILF. It Means More than ‘Debtors I’d Like to … Foreclose On’, Habitat Magazine
By Adam Leitman Bailey Most condo boards that attempt to collect common charges from delinquent unit-owners are faced with essentially three choices – enter into a payment plan with the defaulting resident, sue for money damages or foreclose. The problem with the payment-plan option is that when a unit-owner misses a payment, the board must Full Article…
The Fine Lines in Suing to Evict Tenants’ Families, New York Law Journal
By Adam Leitman Bailey When it comes to subletting, relatives are in an entirely different category than other persons. Relatives stand at the boundary line between family members who occupy the premises as an incident of the family relationship1 and strangers who bought into the right or privilege to occupy the premises.2 While occupancy as Full Article…
Leasing Dinosaurs, New York Law Journal
By Adam Leitman Bailey and Dov Treiman All of the commercially available form leases for rent-stabilized tenancies are admirable examples of attorney language crafting. They were in their day the latest brilliant word in what sorts of protections a landlord would want to have for the landlord and begrudge to the tenant. They carefully walked Full Article…
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