By Rosemary Liuzzo Mohamed and Carly Clinton When purchasing real property, an attorney will almost always advise a purchaser to buy title insurance. Although it is not legally required, title insurance serves to protect the purchaser from a defect in title post closing. A defect in title arises when someone that was given prior ownership Full Article…
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The Costs Associated With Buying and Selling a Home in New York
By Rosemary Liuzzo Mohamed and Carly Clinton In America, owning a home is one of the most significant achievements and investments one will make in adulthood. Most home buyers focus their attention on the purchase price and the interest rate on their mortgage, but what many do not consider are the various other costs associated Full Article…
How the New Tax Law Affects the Mortgage Interest Deduction
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…
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…
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