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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Understanding Single-Room Occupancy Laws – Part II
By Adam Leitman Bailey and Dov Treiman Part II Certificate of No Harassment The obtainment of a certificate of no harassment is the gateway into turning a highly regulated, alteration-prohibited building into a free-market class A multiple dwelling. It should be noted that even after a certificate is granted, any current tenants retain their rent-regulated Full Article…
Understanding Single-Room Occupancy Laws – Part II
By Adam Leitman Bailey and Dov Treiman Part II Certificate of No Harassment The obtainment of a certificate of no harassment is the gateway into turning a highly regulated, alteration-prohibited building into a free-market class A multiple dwelling. It should be noted that even after a certificate is granted, any current tenants retain their rent-regulated Full Article…
Amendments to UCC Law and How it Affects Major Lender’s in Cooperative Lending
By: Rosemary Liuzzo Important amendments to the New York Uniform Commercial Code (UCC) were enacted as of December 17, 2014. The amendments specifically amended Articles 1, 7 and 9. As attorneys for major lenders we are particularly concerned with amendments made to Article 9 §9-503 (a)(4), “Sufficiency of debtor’s name.” The new law, which is Full Article…
Adam Leitman Bailey Predicts Decreased Prices and Bubble Bursting More Than Two Years Before Real Estate Crash, BP Vance Real Estate News
Adam Leitman Bailey Predicts Decreased Prices and Bubble Bursting More Than Two Years Before Real Estate Crash By: Adam Leitman Bailey September 1st, 2006 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 Full Article…
Q & A: Can a Seller Dictate the Down Payment?, The New York Times
By Adam Leitman Bailey July 10th, 2008 Q. Some apartment sales in New York City require a certain percentage as a down payment — often 10 percent. Isn’t this a decision made by the bank providing the mortgage? Does the seller have a say in this? A. In New York City, “the down payment, also Full Article…
Q & A: Adding ‘Partners’ to Co-op Shares, The New York Times, Speakers: Jay Romano
By Adam Leitman Bailey May 12th, 2010 Q. What rights does being registered as “domestic partners” in New York City convey in regard to real estate? I moved into my partner’s co-op five years ago, but the board refuses to add my name to the shares and proprietary lease. A. Adam Leitman Bailey, a Manhattan Full Article…
Q & A: No Guarantees on Code Compliance, New York Times
By Adam Leitman Bailey May 12th, 2011 Q. Is there a law in New York City that requires a seller to give a prospective buyer a certificate of occupancy that indicates the property is in compliance with local codes? A. “There is no such requirement,” said Adam Leitman Bailey, a Manhattan real estate lawyer. “For Full Article…
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