By Leonard Ritz Q. The finances of our co-op building are in poor shape, and we are worried the co-op corporation may end up in bankruptcy. If this occurs, what happens to the shareholders, most of whom still have outstanding mortgages?
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The Brewing MERS Crisis: Everyone Loses, New York Law Journal
By Adam Leitman Bailey and Dov Treiman In Homer’s Odyssey, the protagonist, Odysseus, is called upon to sail his crew through the Straits of Messina, passing between two legendary monsters, Scylla and Charybdis. To avoid one, the only option was to approach the other, risking a horrible death in either instance. Odysseus was at times Full Article…
Moving Beyond the Mistakes of MERS to Have A Secure and Profitable National Title System, ACREL News
By Adam Leitman Bailey and Dov Treiman In Homer’s Odyssey, the protagonist, Odysseus, is called upon to sail his crew through the Straits of Messina, passing between two legendary monsters, Scylla and Charibdis. To avoid one, the only option was to approach the other, risking a horrible death in either instance. Odysseus was at times Full Article…
In a Mortgage Foreclosure, Having Possession of the Mortgage Is Not Enough, Real Estate Law & Industry Report
By Jeffrey R. Metz However intuitive it may seem that the party who controls a mortgage should have the right to foreclose, the courts are casting doubt on that assumption. The issue has come to light in connection with mortgages in the Mortgage Electronic Registration System (MERS), which has commonly served as a mortgagee for Full Article…
The New Rules of Foreclosure Litigation, New York Law Journal
The New Rules of Foreclosure Litigation By Adam Leitman Bailey and Dov Treiman Since the first loans and mortgages changed hands with cloaks and stone in Israel[1] and Greece[2] thousands of years ago[3], never previously had mortgages caused a worldwide economic collapse of financial markets. Unfortunately, as the federal and state government as well as Full Article…
Moving Beyond the Mistakes of MERS to Secure a Profitable National Title System, ABA Probate & Property
by Adam Leitman Bailey, Dov Treiman Adam Leitman Bailey is the principal of Adam Leitman Bailey, P.C., in New York, New York. Dov Treiman is a partner in the New York, New York, office of Adam Leitman Bailey, P.C. In Homer’s Odyssey, Odysseus is called on to sail his crew through the Straits of Messina, Full Article…
Growing Fraud: Self-Help Measures Can Head Off Problems, New York Law Journal
By Adam Leitman Bailey and Carly Greenberg Today’s bank robbers rarely use a mask and gun. The crimes are usually completed at a real estate transaction’s closing table. According to the Federal Bureau of Investigation, lenders incurred more than $1 billion in mortgage losses in 2005 as a result of fraud.1 During this same time Full Article…
Title Litigation: Expense of Theft Prevention Dwarfed by the Cost of Fraud, New York Law Journal
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…
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