By Adam Leitman Bailey and John M. Desiderio May 3rd, 2010 In late 2008, the real estate sky had started to fall and fall quickly. As a result of the loss of financing and wages, many purchasers in contract to buy a unit in a newly constructed building were either no longer able or willing Full Article…
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Construing the HETPA Foreclosure Procedures, New York Law Journal
By Adam Leitman Bailey and Dov Treiman June 8th, 2011 As governments continue to wage war in the form of legislation against lending institutions, we move one step closer to economic chaos and the collapse of marketable title. When business cannot rely on government and courts to enforce contracts and provide for the smooth transfer Full Article…
Adverse Possession Changes Make Results Less Certain, New York Law Journal
By Adam Leitman Bailey and John Desiderio February 11th, 2009 On July 8, 2008, Governor Paterson signed into law S.7915-C, which amended New York’s adverse possession law, and two centuries of New York adverse possession doctrine came to an end. The new law is intended to prevent an absentee landowner from losing title to his Full Article…
Finding Individual Tort Liability for Cooperative and Condominium Board Members, the Appellate Division Takes a Large Scalpel to Business Judgment Rule, Thompson Reuters News & Insight
By Adam Leitman Bailey, John M. Desiderio 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 acted in bad faith, but where it is not Full Article…
Using the Judicial System to End the Foreclosure Crisis in New York, New York Law Journal
August 8th, 2012 Standard foreclosure proceedings have been put on pause. This article endeavors to provide instruction on how to cure one of the most frequently stumbled upon legal impediments to litigating these actions—the lost note. Many foreclosure actions are sitting stagnant for months, or even years, as a result of not only a reticent Full Article…
‘Miller-Francis’: A Disturbance in the Force, New York Law Journal
By Adam Leitman Bailey and Dov Treiman April 9th, 2014 When the Empire destroyed the planet Alderaan in Star Wars IV, Obi-Wan Kenobi sensed “a great disturbance in the Force, as if millions of voices suddenly cried out in terror, and were suddenly silenced.” When the Appellate Division, First Department decided Miller-Francis v. Smith-Jackson,1 there Full Article…
Adam Leitman Bailey, P.C. Defends Commercial Property Owner From Predatory Lender’s Bad Faith Foreclosure Suit
Adam Leitman Bailey P.C., achieved an instant victory for its client, a borrower under a commercial loan, as a New York Supreme Court Judge, ruling from the bench, denied a lender’s bid to appoint a receiver for the borrower’s commercial property and simultaneously dismissed the lender’s foreclosure suit. The victory was the result of a Full Article…
Adam Leitman Bailey, P.C., Uses Creative Interpretation of Note and Mortgage in Successful Defense of Title Insurer in Foreclosure Action
Adam Leitman Bailey, P.C.’s Title Insurance Claims Group was recently retained by a title insurance company to defend title to a residential property threatened by a private-party foreclosure action. In 2000, the then owner of a residential property in Queens obtained a loan from his sister in the principal sum of $36,000. The loan was Full Article…
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