Real Estate Law Blog
Posted on Mar 8, 2012
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 ...
Continue reading "What Can I expect from a Real Estate Short Sale?" »
Posted on Feb 3, 2012
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 ...
Continue reading "Deed with Life Estate in NY (Estate Planning Tool)" »
Posted on Jan 31, 2012
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 ...
Continue reading "No Fault Divorce in New York" »
Posted on Jan 30, 2012
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 ...
Continue reading "Hot Coffee" »
Posted on Jan 13, 2012
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.
Continue reading "Welcome to our Long Island Law Blog" »
Posted on Sep 23, 2011
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 ...
Continue reading "Why being a Pro Se Litigant is Not a Good Idea." »
Posted on Jun 9, 2011
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 ...
Continue reading "Death with Dignity Law" »
Posted on Mar 27, 2008
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, ...
Continue reading "Bankruptcy Credit Counselling and Financial Management" »
Posted on Oct 28, 2007
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 ...
Continue reading "Long Island Housing Partnership - Home Down Payment Assistance" »
Posted on Oct 21, 2007
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 ...
Continue reading "Bankruptcy and Foreclosure" »
Posted on Oct 4, 2007
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 ...
Continue reading "Prosecutor for a Day" »
Posted on Sep 14, 2007
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, ...
Continue reading "Housing Bubble" »
Posted on Sep 12, 2007
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 ...
Continue reading "Title Insurance for Cooperatives, Eagle 9, New York" »
Posted on Aug 19, 2007
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 ...
Continue reading "Seller's Closing Costs" »
Posted on Aug 9, 2007
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 ...
Continue reading "Landlord Tenant Law, Long Island, NY" »
Posted on Aug 8, 2007
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, ...
Continue reading "Lease with Option to Purchase, NY" »
Posted on Aug 7, 2007
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 ...
Continue reading "Power of Attorney, New York" »
Posted on Aug 6, 2007
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 ...
Continue reading "STAR Property Tax Reduction in New York" »
Posted on Jul 31, 2007
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 ...
Continue reading "Real Estate Broker's Agreements" »
Posted on Jul 30, 2007
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 ...
Continue reading "The Importance of Having a Will" »
Posted on Jul 28, 2007
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 ...
Continue reading "1031 Like Kind Exchanges" »
Posted on Jul 27, 2007
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 ...
Continue reading "Health Care Proxies and Living Wills in New York" »
Posted on Jul 26, 2007
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 ...
Continue reading "Buyer Closing Costs" »
Posted on Jul 23, 2007
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 ...
Continue reading "Baldwin, New York, Money Names 25th Best Place to Live" »
Posted on Jul 7, 2007
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 ...
Continue reading "HOME EQUITY THEFT PROTECTION ACT (HETPA)" »