By Adam Leitman Bailey and Dov Treiman Although the lack of judicial supervision of the cooperative foreclosure process for default upon cooperative apartment mortgages vastly simplifies the lives of lenders’ counsel, under the latest changes in the foreclosure statutes, it creates a nightmare for the title industry insuring titles down the line from such a Full Article…
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Negotiating Laundry Room Contracts, The Cooperator
By Adam Leitman Bailey and Dov Treiman It’s amazing how good building owners and managers are at increasing and garnering revenue from residential tenants while at the same time leaving themselves to the will and whim of laundry room operators who impose contracts lasting for decades with automatic renewals, rights of first refusal and other Full Article…
Q & A: Adding ‘Partners’ to Co-op Shares, The New York Times
By Adam Leitman Bailey 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.
Disabled Resident Parking Spaces: Issues for Condo/Co-op Boards, Developers, BNA Real Estate Law & Industry Report
Adam Leitman Bailey and John M. Desiderio discuss the handicap laws that boards must follow and their obligations to proved disabled parking spaces.
Select Issues in Representing HPD Supervised Mitchell-Lama Cooperatives, New York Real Property Law Journal
By Adam Leitman Bailey New York City Mitchell-Lama cooperatives provide heavily publicly subsidized maintenance payments to those lucky enough to call them home. The New York City Mitchell-Lama program provides 54,000 homes to persons whose financial circumstances would otherwise negate such a possibility. As a result, Mitchell-Lama cooperatives are extremely popular and have decade long Full Article…
Q&A: Ripped Off … Who’s Responsible? The Cooperator
By Adam Leitman Bailey Q. A Shareholder in our building claims that some valuables he kept in a storage room in the basement of our co-op were stolen after the lock to his storage space was allegedly broken. He is threatening to sue the co-op for “the failure to properly secure the premises.” He is Full Article…
Defining When “Time is of the Essence”
By: Adam Leitman Bailey & John M. Desiderio May 9th, 2007 The Court of Appeals has recently reemphasized, for sellers’ attorneys, the importance of drafting clear and unequivocal “time of the essence” clauses in those real estate contracts where circumstances justify conditioning the sale upon the buyer’s timely performance of one or more stated conditions. Full Article…
Letting Go of Leases and Allowing Licenses
By: Adam Leitman Bailey & Dov Treiman May 1st, 2005 Why Licenses? Inevitably, when courts seek to readjust the balance between landowners and non-owner occupants, owners’ counsel will reach into the ancient common-law toolbox to find occupancy arrangements that give owners the panoply of rights and remedies they thought they enjoyed as landlords. In the movie Jurassic Park, Full Article…
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