Are you buying a house in New York, but forgetting to calculate your full monthly nut? Mortgage payments are not the only bite out of the monthly payments that New York Homeowners and buyers make every month. Aside from the principle and interest payments, mortgage holders must pay real estate…
New York State has recently enacted a new section (27-2405) of the Environmental Control Law which shall now require Landlords and Owners to Notify Tenants of “Indoor Air Contamination.” Effective December 2008, property owners and landlords will be required to to disclose the results of environmental testing to tenants (both…
I have to comment on this scam because many lawyers are getting slammed, and I routinely get solicited from my private web-site for this type of scam: Someone representing an Asian company goes onto my web-site and tells me they need to collect a six figure judgment against “suppliers” in…
According to an American Bar Association, real estate lawyers are being sued more often for bad advice arising from real estate transactions According to a recent study of various insurance companies, and their claims between 2004 and 2007, malpractice claims against lawyers related to real estate transactions climbed four percentage…
When commission disputes arise, how do you handle them in New York? Real Estate brokers, realtors, and other real estate professionals who depend upon a commission to be paid will now have a clearer path to address their commission disputes. Under the recently amended NY Real Property Law (“RPL”), Section…
Will the the Housing and Economic Recovery Act of 2008 (July 30, 2008) provide the much needed support for homeowners in the Hudson Valley? Only time will tell as various financial institutions continue to feel the fall out on Wall Street. The highlights of the new law permit the Federal…
According to the Wall Street Journal, New York City real estate as a whole is down ten (10%) . S&P/Case-Shiller Home Price Index, reported in WSJ today. Can we expect that trend to continue– probably, for three primary reasons. First, Wall Street executives and traders are taking a financial bath.…
You would think that paying $53.5 million for two separate penthouse apartments in New York’s famed Plaza Hotel would get you what you paid for. Not always! According to published reports about one recent real estate transaction, Andrei Vavilov, hedge fund financier, has sued the hotel developers El-Ad Properties and…
Is the New York State Office of Court Administration going to eliminate many Justice Courts throughout rural and upstate New York? That’s what the commission appointed by Chief Judge Judith S. Kaye recommended. Who amoung us has not been before the local justice court, where judges, sometimes lawyers/ sometimes not,…
That is the question in a recent lawsuit filed in Rockland County Supreme Court. Most real estate attorneys would say that closing with out a certificate of occupancy on a newly constructed house is not a good idea, even a departure from accepted standards. A certificate of occupancy is the…