BY ADAM LEITMAN BAILEY AND JOHN M. DESIDERIO Before purchasing a condominium or cooperative apartment in a newly built high rise of six or more stories in New York, a prospective buyer needs to pay close attention to the warranty provisions of the sponsor’s offering plan and purchase agreement. Unless the agreement contains the sponsor’s Full Article…
By Adam Leitman Bailey and Dov Treiman We reviewed every Appellate Division case in the first eleven months of 2012. In raw count, the lenders beat the borrowers by a rough margin of 2:1, but that number does not necessarily reflect a swing in sensitivities. The appellate division decisions in 2012 showed strict application of the laws and Full Article…
By Adam Leitman Bailey and Dov Treiman Secured borrowing and the transfer of money are the bedrock of the global financial system. However, that system finds itself in crisis. Before the current malaise can end, the system must rebuild in a manner that ensures mutual trust between lenders and borrowers. Rapid repair of the economy Full Article…
By Adam Leitman Bailey At the start of this new millennium, 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 mask as the most favored and effective tool of theft from financial institutions. As the New York Times Full Article…
By Adam Leitman Bailey and Dov Treiman One of the unusual features of rent control and rent stabilization is the ability to evict a tenant based on nuisance, even if the lease doesn’t give you the right to do so. The cause of action has been defined as “a continual course of conduct over a Full Article…
By Adam Leitman Bailey and Dov Treiman Most attorneys and nearly all educated tenants in this State are aware of the existence of the warranty of habitability. Few may know that it is statutory in basis, fewer care that it contradicts the common law, but most would be surprised by the types of occupancy to Full Article…
Adam Leitman Bailey, P.C., was recently called upon to investigate a tenant of record’s sister’s succession claim to a regulated apartment. Pursuant to applicable law, to remain in the apartment after the tenant vacated, the sister had the burden of proving a statutorily recognized familial relationship with the tenant (siblings qualify) and co-residency in the Full Article…
By Adam Leitman Bailey Understanding our local real estate market is vital to making current or future housing plans. New York City home prices have slowly been falling. Developers’ betting on the condominium market has turned every inch of property they could buy into condominiums that have expanded the selection of homes. This condominium conversion Full Article…
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