By Adam Leitman Bailey and John M. Desiderio During the last five years, the pendulum of commercial leasing has begun to swing. At common law, the doctrine of “caveat emptor” governed commercial leasing. By the 1970’s, New York courts, relying on equitable principles, began to carve out exceptions to caveat emptor. 1 Equity gained greater Full Article…
By Adam Leitman Bailey and John M. Desiderio New York Law Journal | October 10, 2012 Recently, the Appellate Division First Department, in Fletcher v. Dakota, Inc.,1 held that the business judgment rule does not protect individual condo and co-op board members from personal tort liability where a board acting in its corporate capacity has Full Article…
By Adam Leitman Bailey and Dov Treiman In what is commonly known as an HP action, tenants can bring a court proceeding against a building owner asking the court to order the owner to make necessary repairs and correct code violations. However, in some circumstances, forcing an owner to make the ordered repairs could cause Full Article…
By Adam Leitman Bailey and Jessica D. Scherer As a result of the Statute of Fraud’s brokerage commission exception, real estate owners should not engage or utilize the services of a real estate broker or enter into any transaction involving a real estate agent without a written agreement declaring that a commission shall only be Full Article…
By Adam Leitman Bailey and Dov Treiman After extensive study, the federal Department of Housing and Urban Development has issued new rules under the Real Estate Settlement Procedures Act (RESPA), 12 U.S.C 2601-2617, of 1996. The regulations represent a victory for borrowers since they will impose on lenders and their allies more pricing and product Full Article…
January 1st, 2013 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 notable Full Article…
By Adam Leitman Bailey and John M. Desiderio Land transfers date back to biblical times and have been the subject of an inordinate amount of litigation. Of course, the importance and value of land and the necessity for shelter might help to explain many of the disputes. Some, however, are due to human error, especially Full Article…
By Adam Leitman Bailey and John M. Desiderio Commercial landlords need relief. They are, and have been increasingly, frustrated by the procedural and substantive moves that determine (more often than not) the scope and duration of an eviction action in landlord-tenant litigation. A knowledgeable commercial tenant’s attorney, without any great effort, will readily employ defensive Full Article…
TwitterFollow @alb_pc on Twitter
TwitterFollow @Aleitmanbailey on Twitter