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Articles Posted in General Interest

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Daily News- “Steals the Empire State Building”– New York City Fraud Investigation.

Mortgage Fraud, Deed Thefts and other nefarious acts by unscrupulous people in New York City lead the New York Daily News to investigate. As part of the “investigation” they filed a bogus deed to the Empire State Building, exposing the massive loopholes in New York City’s recording of documents. Here’s…

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Attorney Contingency Clauses in Upstate New York.

Beware of what you are signing in an upstate New York real estate transaction. The problems and perils of non-lawyers having contracts signed prior to attorney review. New York State’s highest court, the Court of Appeals, recently considered a frightening set of facts and protected the attorney-client relationship. But, beware.…

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How is this Mortgage Crisis Going to End as Home Values Plummet in New York?

Citibank took a bold step to solidify and quell the concerns of its mortgagors by halting foreclosures, and voluntarily considering how to modify the terms of its mortgages on a wholescale scale. According to the WSJournal, the US Government is considering various ways to fix the problem from the top…

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Will Seller Financing Help You Sell that Hard to Sell Home in New York?

As the credit markets continue to shrink, and access to credit tightens up further, some of our clients are turning to seller financing, which is sometimes acceptable in small real-estate transactions. Indeed, the WSJournal reports that large commercial real estate transactions are also including seller financing as an option. According…

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Additional Short Sales Tips for Those Proceeding in New York.

To follow up on other stories in this blog, Short Sales gets very complicated and uncertain if there is more than one lender involved. Be sure that you are negotiating with the primary lender because junior lenders often absorb most of the loss, but you will need their approval too.…

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Surveys, Survey Inspections, and Survey Endorsements in a New York Real Estate Transfer.

So, your attorney has indicated that the Seller of a parcel of real property has an “old survey” and that you could get around the cost of a new survey with a survey inspection. What’s the difference? Survey: A licensed professional surveyor investigates the deed transfers into the owners of…

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Disciplinary Proceedings and New York’s “Dead Man Statute”

To all prospective client and attorney relationships–note to self– get the fee agreement in writing, because the terms can come back from the grave to bite you. In New York State there is a rule of evidence known as CPLR § 4519 (the “Dead Man’s Statute”), which is designed to…