The ‘Regina’ decision will have significant reverberations for the real estate market going forward, as it will unfreeze the chill over the purchase and sale of rent-regulated buildings. April 08, 2020 On April 2, 2020, the New York State Court of Appeals issued a split decision (4-3) on a string of four rental overcharge cases Full Article…
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COVID-19 May Shape NY Business Interruption Insurance Law
April 7, 2020 On the scale of pandemics, the novel coronavirus, commonly referred to as COVID-19,[1] is unprecedented, and ranks among one of the worst in human history, not only in terms of its virulence, but in economic destruction as well. While scientists hastily work toward developing a vaccine and antiviral drugs to combat COVID-19, Full Article…
Third-Party Tenant Harassment Poses Dilemma For Landlords
New York common law has long shielded landlords from tort liability for intentional injury suffered by one tenant at the hands of another tenant, unless the landlord “has the authority, ability, and opportunity to control the actions of the assailant.” However, this shield was recently pierced by the Second Circuit in Francis v. Kings Park Full Article…
Demolition: One of the Last Ways to Deregulate a Building
With the June 2019 passage of the Housing Stability and Tenant Protection Act (HSTPA), owners are desperately seeking ways out of rent regulation in an attempt to recapture the profitability their buildings previously had. Two such exit strategies are “substantial rehabilitation,” available only to deteriorated buildings, and “demolition,” generally available to rent-stabilized buildings regardless of Full Article…
Adam Leitman Bailey Celebrated for Dedication to the Field of Law
Mr. Leitman Bailey specializes in real estate law with the eponymous Adam Leitman Bailey. P.C. March 27, 2020 Adam Leitman Bailey has been included in Marquis Who’s Who. As in all Marquis Who’s Who biographical volumes, individuals profiled are selected on the basis of current reference value. Factors such as position, noteworthy accomplishments, visibility, and Full Article…
Superstar Lawyer Adam Leitman Bailey Speaks About 20-Year Anniversary
Adam Leitman Bailey has dedicated his career to reshaping New York City’s real estate law sector for the better. Bailey and his eponymous law firm are associated with some of the most influential legal cases of the new millennium; Bailey upheld religious freedom and the right to free speech in the Grand Zero Mosque case Full Article…
The Market Value Rider Mystery – Solved!
By Rosemary Liuzzo Mohamed and Carly Clinton When purchasing real property, an attorney will almost always advise a purchaser to buy title insurance. Although it is not legally required, title insurance serves to protect the purchaser from a defect in title post closing. A defect in title arises when someone that was given prior ownership Full Article…
The Costs Associated With Buying and Selling a Home in New York
By Rosemary Liuzzo Mohamed and Carly Clinton In America, owning a home is one of the most significant achievements and investments one will make in adulthood. Most home buyers focus their attention on the purchase price and the interest rate on their mortgage, but what many do not consider are the various other costs associated Full Article…
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