In past links, I have discussed “Tenancy by the Entirety,” where a deed to a Husband and Wife is presumed to convey the property to each as equal and inseparable joint tenants. That means, one may not convey without the other, and creditors may not partition their interests. Indeed, when…
I often get calls from people concerned about deeds to real property when someone dies without a will. When a property owner dies intestate (without a will) the transfer of their real property does not require any action by an administrator or executor. Instead, title to the deceased’s real estate…
Corporate Compliance UPDATE—(January 10, 2024). LLCs have been a favored entity for real estate for many years in New York. Times are changing. For those of you who own a beneficial interest in a New York Limited Liability Company, you need to contact your attorney. Effective January 1, 2024, LLCs…
(Nyack, New York) I wanted to follow up on my prior blog post about “tenants by the entirety.” As I pointed out in that post, It is interesting to consider what other “ramifications” owning property as tenants by the entirety might have. Given the “undivided” nature of the ownership relationship,…
Before the recent protests and resurgence of the Black Lives Matter movement, I was asked by a group of Realtors to present a continuing education program on Fair Housing. I poured over the various laws in New York, particularly in Rockland and Westchester County to find the status of the…
(Nyack, New York- April 3, 2020) We all hear the horrible, and getting worse, stories of loved ones sick, suddenly finding themselves in the hospital, incapacitated, and no longer in touch with their family members, unable to pay their own bills, manage assets, or even make medical decisions. With the…
With all of the “fake news” making history in our world, it is important to remember that, as ubiquitous as Facebook may be, what you post may not be so “fake” when it comes to your personal litigation position. If you have a lawsuit, whether it involves claims for personal…
With the rise of the so-called “sharing economy,” more homeowners have been looking to rent out their properties in the short term on websites such as Airbnb to earn extra cash. However, as short term rentals have increased in popularity, municipalities across the United States have begun considering legislation and…
Most homebuyers and sellers are accustomed to the usual model of agency: the seller and buyer each have a real estate “agent” representing them during the showing, negotiation and final closing of a real estate transaction. Typically, the realtor is an “agent” who works on behalf of a buyer or…
Title insurance is a must for all home buyers in New York. A title company searches the public record to identify potential issues with the title. Common problems include things like old liens, judgments, encroachments, survey overlaps, outstanding mortgages or unpaid taxes against the property being purchased. Title companies play…