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Q & A: An Inheritance, With Restrictions

Q. My mother inherited a co-op in Manhattan, but the co-op board will not give its approval for the shares to be transferred into her name. Can a co-op board do this? A.  A co-op board may not prevent the estate of a deceased shareholder from being transferred to a beneficiary, according to Adam Leitman Bailey, P.C., a  Full Article…

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Q & A: No Dogs for Condo Renters

By JAY ROMANO Q. I own in a condo building that allows only owners to have dogs. Renters have been circumventing the rule by submitting a note from a therapist to the management company saying the dog is part of their therapy. Is it true that a condominium can be kept from enforcing its rules by  Full Article…

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A Smoking Ban in All Related Companies Rentals

By C. J. HUGHES In a move that may enrage those who enjoy a cigarette on their couch after work, but delight air-freshener-wielding neighbors, a major landlord has banned smoking in all of its apartments across the country. As of this month, the Related Companies has decided that tenants can no longer light up in  Full Article…

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No Help for Jilted Sellers as Court Sticks With Precedent

n White v. Farrell,1 the New York Court of Appeals ruled that the measure of damages for a buyer’s breach of a contract to sell real property, where the contract does not contain a liquidated damages clause as the seller’s exclusive remedy,2 is the difference between the contract price and the fair market value of the property on  Full Article…

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Adam Leitman Bailey, P.C. Helps Shareholders Regain Control of Their Building

In a recent matter, Adam Leitman Bailey, P.C. counseled a group of concerned shareholders in removing an incumbent Board of Directors of a prestigious Manhattan cooperative. A group of concerned shareholders of a prestigious Manhattan cooperative were challenged and frustrated by an incumbent Board.  The Board’s lack of truthfulness and transparency, unilateral decision-making, and failure  Full Article…

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Breaking Bad: Dealing with Rule Breakers

By Adam Leitman Bailey, Leonard Ritz and Dov Treiman   Jan. 15, 2013 — In the aftermath of superstorm Sandy, many condo and co-op board members have been facing unprecedented challenges, with little experience to guide them. In the first of two installments today, three leading attorneys answer eight questions at the top of every affected  Full Article…

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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…

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