By Adam Leitman Bailey and John M. Desiderio In late 2008, the real estate sky had started to fall and fall quickly. As a result of the loss of financing and wages, many purchasers in contract to buy a unit in a newly constructed building were either no longer able or willing to close on Full Article…
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Harnessing the Internet, New York Law Journal
By Adam Leitman Bailey and Colin E. Kaufman The World Wide Web has changed real estate law forever. Harnessing the massive amounts of information on the Internet to enhance the practice of real estate law has become essential for every dirt lawyer. New York’s state and city governments have created useful Web sites to assist Full Article…
Adam Leitman Bailey Recommends a Change to Cooperatives’ Corporate Documents for Habitat Magazine 2007 Attorney Survey
By Adam Leitman Bailey House rules and the proprietary lease are crucial elements in ensuring that a building runs properly. They create governing policy. Yet enforcement can become a difficult affair. You don’t want to be too harsh, nor do you want to be so lenient that the policy becomes meaningless. It is, in effect, Full Article…
Q & A: When a Stabilized Unit is Not the Sole Residence, The New York Times
By Adam Leitman Bailey Q. In 1999, I leased a rent-stabilized apartment in a building owned by my employer. My employer was fully aware that I had a residence in another state and would be using the apartment about 10 days a month while on company business.
Legal Quandries and How They Were Resolved, Habitat Magazine
“AVOID LAWSUITS BEYOND ALL THINGS; they pervert your conscience, impair your health, and dissipate your property.” Said French writer Jean De La Bruyere in the 1670s, and his statement holds true today. Nothing is more irksome than a long, drawn-out, complicated, and expensive legal battle. Sound legal advice can be a saving grace. That’s why Full Article…
New Home Warranty: An Open Question Seeking an Answer, New York Law Journal
By Adam Leitman Bailey and John M. Desiderio In 1998, in Fumarelli v. Marsam Construction, Inc.1 the New York Court of Appeals decided that the statutory housing merchant implied warranty contained in Article 36-B of the General Business Law2 “effects a complete substitute for the common law remedy” that the Court itself first proclaimed ten Full Article…
New Home Warranty: An Open Question Seeking an Answer, New York Law Journal
By Adam Leitman Bailey and John M. Desiderio In 1998, in Fumarelli v. Marsam Construction, Inc.1 the New York Court of Appeals decided that the statutory housing merchant implied warranty contained in Article 36-B of the General Business Law2 “effects a complete substitute for the common law remedy” that the Court itself first proclaimed ten Full Article…
Standing to Sue Sham Condo, Co-op Sponsors Changed, New York Law Journal
By Adam Leitman Bailey and John M. Desiderio Kramer v. W10Z/515 Real Estate Ltd. Partnership, 1 a recent decision of the Appellate Division, First Department, is a case of great importance to purchasers of new condominium and cooperative apartment units. In a sweeping opinion, the court completely overhauled, if not expressly overruled, a line of Full Article…
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