More than 2,000 people – including attorneys from 28 states and three other countries – participated in a webcast for lawyers seeking to provide legal assistance to victims of Superstorm Sandy.
Read more %1$sLenders can foreclose on properties, even after losing the note
Prominent real estate attorney Joseph Forte recently wrote about “… the prospect of refinancing nearly $1.8 trillion of existing U.S. commercial real estate debt in the next five years.â€
In order to complete this task and to ensure that investors and lenders are willing to lend money to building owners, we must have a judicial system that is going to honor the contracts entered into with borrowers.
Read more %1$sFinding individual tort liability for cooperative and condominium board members, the Appellate Division takes a large scalpel to business judgment rule
Recently, the Appellate Division First Department, in Fletcher v. Dakota, Inc.,1 held that the business judgment rule does not protect individual condo and co-op board members from personal tort liability where a board acting in its corporate capacity has acted in bad faith, but where it is not alleged that defendant board members have committed a tort independent of the tort committed by the board itself.
Read more %1$sResidential landlords offer rent abatements to tenants stranded by Sandy
November 08, 2012 05:30PM By Katherine Clarke In the wake of Hurricane Sandy, several of the city’s largest residential landlords have announced that they are providing comprehensive rent abatements to tenants who lost power or water during the storm. Both tenants of luxury and more affordable housing may see some relief. Rose Associates, owner of
Read more %1$sA Guide to Getting and Using Insurance After the Hurricane
The first step to filing an insurance claim is figuring out whether or not you have insurance. The good news is that if you live in an area where your home was likely to be damaged by Hurricane Sandy, there’s a decent chance you do.
Read more %1$sPost-Sandy Legal Advice on Real Estate, Insurance and Property Issues
Because lenders mandate that homeowners in flood zones obtain flood insurance as a prerequisite to lending, most homeowners in flood zones will have flood insurance protection. There are three general types of flood insurance policies: the Dwelling Policy (includes condo unit owners), the General Property Policy and the Residential Condominium Building Association Policy.
Read more %1$sMortgage Interest Deduction, Once a Sacred Cow, Is Under Scrutiny
Many home buyers deduct their mortgage interest when assessing their tax bill, a perk that has helped bolster the income of millions of families — and the broader housing market.
Read more %1$sLenders Loosen Up…With Luxury Buyers
By MATTHEW STROZIER Demand for new mortgages is finally revving up—among big spenders, anyway. Home sales using a jumbo mortgage had year-over-year growth of 7.9% through September, compared with 2.7% for nonjumbo sales, according to an analysis for The Wall Street Journal by mortgage-technology company FNC. It’s the latest sign that jumbo loans, defined as
Read more %1$sReconsidering Flood Insurance
By Susan Stellin IN the aftermath of Hurricane Sandy, homeowners and renters who have insurance are discovering what it covers — and what it doesn’t — while those with minimal or no insurance may be recalculating their risks. As images of waterlogged houses continue to dominate the news, the biggest surprise may be that most
Read more %1$sA Guide to When to Pay Rent, or Not, After Hurricane Sandy
By Adam Leitman Bailey One of the most frequently asked questions about life in a Sandy-affected building has been this: do tenants of buildings in Zone A need to pay their rent for the time they’ve been evacuated? We offered some preliminary advice on this over the weekend, and we’ve since reached out to real
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