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Real Estate Law Blog

What Can I expect from a Real Estate Short Sale?

A short sale is a device used by lenders and borrowers to avoid a foreclosure action. The mortgage is in default for a while, and the bank realizes that the borrower cannot pay. The borrower finds a ...
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Deed with Life Estate in NY (Estate Planning Tool)

A deed with a life estate is an estate planning tool with many advantages. The first advantage is a very significant tax advantage. If an elderly person wishes to have certain persons receive their ...
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No Fault Divorce in New York

As of October 2010, New York joined the ranks of most sister states, by enacting a law permitting a no fault grounds for divorce. The wording of the no fault divorce grounds is as follows: "the ...
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Hot Coffee

I am sure everyone has an opinion about the "hot coffee" case brought against McDonald's. The case became the poster child for tort reform. I always thought that the result was ...
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Welcome to our Long Island Law Blog

We are pleased to announce the launch of our New York Real Estate Law Blog. You can subscribe to our RSS feed by clicking here.
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Why being a Pro Se Litigant is Not a Good Idea.

In my legal career, I’ve been consulted by many people who have attempted to represent themselves, and now need a lawyer. I have represented the opponent of litigants representing themselves ...
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Death with Dignity Law

Recently watched “How to Die in Oregon” on HBO, a documentary about the Death with Dignity Law enacted in that state. It was also subsequently enacted in Washington State. It’s ...
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Bankruptcy Credit Counselling and Financial Management

Under the new laws enacted in October 2005, a debtor filing for a Chapter 7 or 13 bankruptcy must now obtain two certificates: the first is done pre-petition filing and is called Credit Counselling, ...
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Long Island Housing Partnership - Home Down Payment Assistance

Long Island Housing Partnership is a government program that provide $15,000 towards down payment and closing costs of a qualifying home in Nassau County, New York. There are income requirements, and ...
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Bankruptcy and Foreclosure

Many people in foreclosure, who have equity in their home, attempt to negotiate with the bank for a forebearance agreement, a short sale, or a refinance with a different lender to bail them out before ...
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Prosecutor for a Day

I’m fast approaching my ten year anniversary of being admitted to practice in New York. This brings to mind one of my first adventures in being a lawyer at the first law firm I worked for as an ...
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Housing Bubble

Everyone knows that housing prices are down from the past two years. Houses on my street in Baldwin were selling for a high as $500,000 approximately two years ago. That lasted for about three months, ...
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Title Insurance for Cooperatives, Eagle 9, New York

First American Title Insurance Company is offering a product called Eagle 9, which is akin to title insurance for real property. Typically, purchasers of a co-op obtain a lien search to determine ...
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Seller's Closing Costs

Obviously, closing costs are a major concern of purchasers of real estate. Sellers also need to be aware of what costs they will incur upon the sale of their premises. The typical seller’s ...
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Landlord Tenant Law, Long Island, NY

Both tenants and landlords should be aware of the thirty day notice rule in Nassau and Suffolk Counties with respect to holdover proceedings. This is the type of proceeding that is necessary ...
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Lease with Option to Purchase, NY

A Lease with Option to Purchase is a Lease that contains a method for the tenant to elect to purchase the property on or before a certain time period. There are usually payments, in addition to rent, ...
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Power of Attorney, New York

I see many Powers of Attorney done by people without legal advice, and they are not properly signed and initialled to be valid. The most notable mistake is that a checkmark is placed next to the ...
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STAR Property Tax Reduction in New York

Lately, I’ve been asked a lot of questions regarding the Basic and Senior Enhanced Star Property Tax exemptions in New York State. In order to receive the exemption, you must own and reside in ...
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Real Estate Broker's Agreements

There are three types of broker arrangements – seller’s agent, buyer’s agent, and dual representation. By far the most frequent situation is that the broker is acting as a selling ...
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The Importance of Having a Will

A will allows you to decide who will get your money and property upon your death; otherwise, New York State directs which relatives will inherit under what is called “intestate ...
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1031 Like Kind Exchanges

This is a tax device utilized by investors who do not reside at the property, but rent it out for profit. There are many rules associated with like kind exchanges, but the basic idea behind it is that ...
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Health Care Proxies and Living Wills in New York

In New York, the document necessary to appoint someone to make health care decisions on your behalf if you are incapacitated is a Health Care Proxy. A Living Will is a companion document that ...
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Buyer Closing Costs

Closing costs can add up quickly at a closing, and include title insurance, attorney’s fees, bank attorney’s fees, title searches, survey costs, discount points, processing fees, mortgage ...
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Baldwin, New York, Money Names 25th Best Place to Live

I’ve lived in Baldwin, New York most of my life (in two different houses on the same street), so, of course, I was happy to hear about Baldwin being named the 25th best place to live for 2007 by ...
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HOME EQUITY THEFT PROTECTION ACT (HETPA)

We’ve all heard the horror stories about a poor widow being unable to afford her mortgage, and the mortgage goes into foreclosure. Then, someone comes along promising to “save” her ...
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