Rainy Day Money – Condo Style Reserve Fund Obligations By: Adam Lietman Bailey July 1st, 2011 Do you live in a condominium conversion? Are your reserves underfunded? As a condo board you may be able to recover millions of dollars from your sponsor. Sponsors of condo conversions really have only one material obligation: to provide Full Article…
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Preventing Fraud at Closing
November 1st, 2009 There are some simple yet effective steps that can be taken to avert fraud at a real estate closing. At the start of the 21st century, the most effective means to rob a bank no longer includes the use of a gun. The real estate closing table has replaced the gun and Full Article…
Q & A: When a Super Is a Requirement
By: Jay Romano October 20th, 2009 Q: Is there a New York City law that a co-op building must have a specific number of units to necessitate a live-in superintendent? A: Dov Treiman, a Manhattan real estate lawyer, said that under the New York City Administrative Code, any building with nine or more units must Full Article…
Adverse Possession: Veto Confirmed Existing Law on ‘Claim of Right’
By: Adam Leitman Bailey & John M. Desiderio September 12th, 2007 This past session, the New York State Legislature passed a bill1 that would have effectively eliminated the doctrine of adverse possession as we know it today. However, on Aug. 28, Governor Spitzer vetoed the bill noting the “radical impact” it would have had on Full Article…
Defining When “Time is of the Essence”
By: Adam Leitman Bailey & John M. Desiderio May 9th, 2007 The Court of Appeals has recently reemphasized, for sellers’ attorneys, the importance of drafting clear and unequivocal “time of the essence” clauses in those real estate contracts where circumstances justify conditioning the sale upon the buyer’s timely performance of one or more stated conditions. Full Article…
Economic Infeasibility: Rare Defense Requires Total Cooperation of Client
By: Adam Leitman Bailey & Dov Treiman March 14th, 2007 Landlords subjected to Housing Part proceedings1 to enforce building codes, where compliance will cause severe economic distress, may attempt to defend themselves by raising the so-called “economic infeasibility” defense, the essence of which is that the cost of correcting the cited code violations is likely Full Article…
Despite Absence, Son Earns Succession Rights Succession Rights
By Daniel J. Curtin, Jr., Esq. Despite Absence, Son Earns Succession Rights Succession Rights H.P.D Frances Lippa, A.H.O. When the tenant of the Mitchell-Lama apartment in question died on August 6, 2003, the deceased tenant’s son sought succession rights to the apartment and had to prove that the apartment in question was his primary residence Full Article…
Ex-Super Can’t Delay Eviction
Issue Date: April 2006, Posted On: 4/1/2006 Ex-Super Can’t Delay Eviction Gilanco Holdings, LLC v. Henriquez: Index No. 52089/06 (Civ. Ct. NY 3/6/06; Wendt, J) [2-pg. doc.] (Decision submitted by Manhattan attorney Adam Leitman Bailey, who represented the landlord.) Landlord sued to evict former building superintendent after the super’s employment was terminated. The court ruled Full Article…
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