The Tax Cuts and Jobs Act was signed into law at the end of 2017 and will have an impact on homeowners in the United States. The mortgage interest deduction on a mortgage taken to purchase a home prior to December 14, 2017 allows a borrower to deduct interest on up to $1 million in Full Article…
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Talking Points Against Governmental Takeover of Title Companies and all Small Businesses
By Adam Leitman Bailey Title insurance work is labor intensive Title agencies’ labor-intensive search of the public property records includes the search of tax and judicial records by skilled title examiners that provides homebuyers and lenders the security they need to purchase and transfer real estate. Otherwise, the rampant fraud that exists would reach levels Full Article…
Negotiating RPAPL §881 License Agreements
By Adam Leitman Bailey, John M. Desiderio, and Joanna Peck Feb 20, 2018 Adam Leitman Bailey, John Desiderio, and Joanna Peck discuss practical considerations for parties to consider when negotiating RPAPL §881 licensing agreements, noting that although §881 was once described as a “little-used law” it is now required reading for all attorneys with developer Full Article…
When Can Condo and Co-op Boards Fine the Owners and Residents?
January 30, 2018 By Adam Leitman Bailey and John M. Desiderio Adam Leitman Bailey and John M. Desiderio review the authority given to boards of condominiums and cooperative corporations to impost and enforce respectively on condo unit owners and cooperative shareholder-tenants who violate building house rules. This article will review the authority given to boards Full Article…
The Newest New York City Real Estate Laws That Property Owners and Occupants Must Know in 2018
January 16, 2018 By Adam Leitman Bailey and Dov Treiman 2017 was an astounding year in New York City real estate. Especially on August 9, 2017, but to become effective at scattered times over the ensuing year, the City Council enacted numerous provisions falling into three distinct areas: general property owner/landlord and shareholder/unit owner/tenant relations, Full Article…
Departmental Divide on Shareholder Family Occupancy
December 12, 2017 By Adam Leitman Bailey and Dov Treiman Adam Leitman Bailey and Dov Treiman discuss a split among the First and Second Department Appellate Divisions on their interpretations of a common clause in proprietary leases for cooperative apartments relating to whether a proprietary lessee must live in the apartment simultaneously with a close Full Article…
When Should a Landlord Hire a Lawyer?
November 14, 2017 By Adam Leitman Bailey When 8.5 million people are living vertically in a city that’s only 22.7 square miles large, landlord–tenant battles and tenant versus tenant wars are a daily occurrence. All landlords should hire a lawyer when a tenant fails to pay rent, properly take care of the property, when any Full Article…
How to Navigate HPDʼs Alternative Enforcement Program
November 1, 2017 The New York City Department of Housing Preservation and Development (“HPD”), touts its Alternative Enforcement Program (“AEP”), which was established in 2007, as one of the City’s “most effective enforcement tools for addressing distressed properties.” In theory, AEP’s fundamental purpose is to combat the City’s urban blight by forcing building owners to Full Article…
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