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A Practitioner’s Guide to Understanding Interest

April 12, 2017 By Adam Leitman Bailey and Dov Treiman While prohibited in some religious traditions,1 interest is one of the most pervasive concepts in the American economy. Seemingly simple on its surface, it presents a bewildering amount of complexity as soon as one digs into its legal implications. Real Estate practitioners must know the  Full Article…

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Pitfalls for Buyers: Careful Drafting, Detailed Inquiries Minimize Risk

By: Adam Leitman Bailey & Dov Treiman January 30th, 2008 Recent case law demonstrates that buyers of residential property with rent-regulated units have been blind-sided by financial risks arising from their attorneys’ ignorance of rent regulatory laws. Although many of these cases go unreported, the recent decision of Newport Partners v. DHCR,1 is typical of  Full Article…

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Discharge of Ancient Mortgages in New York

Title Insurance companies are under attack by governmental officials. Few other real estate businesses suffer the unjustified, frequent assaults by government officials like the title insurance profession. The difficulty in understanding their function and underestimating their necessity for the safe transfer of real estate requires real estate practitioner’s to raise their pens to protect our  Full Article…

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A Lender’s Duty To Investigate Its Borrower

By: Adam Leitman Bailey & John M. Desiderio Adam Leitman Bailey is the founding partner of Adam Leitman Bailey, P.C., in New York, New York. John M. Desiderio is a partner in the New York, New York, office of Adam Leitman Bailey, P.C. ……………….. Until recently, a mortgage lender preparing to give a loan needed  Full Article…

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Amendments to UCC Law and How it Affects Major Lender’s in Cooperative Lending

By: Rosemary Liuzzo Important amendments to the New York Uniform Commercial Code (UCC) were enacted as of December 17, 2014. The amendments specifically amended Articles 1, 7 and 9. As attorneys for major lenders we are particularly concerned with amendments made to Article 9 §9-503 (a)(4), “Sufficiency of debtor’s name.” The new law, which is  Full Article…

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Correcting the MERS Errors to Establish a Secure, Profitable National Title System, Real Estate Law & Industry Report

By Adam Leitman Bailey and Dov Treiman October 4th, 2011 In Homer’s Odyssey, the protagonist, Odysseus, is called upon to sail his crew through the Straits of Messina, passing between two legendary monsters, Scylla and Charibdis. To avoid one, the only option was to approach the other, risking a horrible death in either instance. Odysseus  Full Article…

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Using the Judicial System to End the Foreclosure Crisis in New York, New York Law Journal

August 8th, 2012 Standard foreclosure proceedings have been put on pause. This article endeavors to provide instruction on how to cure one of the most frequently stumbled upon legal impediments to litigating these actions—the lost note. Many foreclosure actions are sitting stagnant for months, or even years, as a result of not only a reticent  Full Article…

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