New York State Bar Association Hosts Webcast for 2,000 Attorneys on How to Assist Superstorm Sandy Victims

ALBANY, NY (11/20/2012)(readMedia)– 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. The three-hour program – webcast from the State Bar Center in Albany on November 15 – featured prominent attorneys ...

Lenders can foreclose on properties, even after losing the note

By Adam Leitman Bailey, founding partner, and Jackie Halpern Weinstein, associate, Adam Leitman Bailey, P.C. 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.” In order to complete this task and to ensure that ...

Finding individual tort liability for cooperative and condominium board members, the Appellate Division takes a large scalpel to business judgment rule

By Adam Leitman Bailey and John M. Desiderio (Adam Leitman Bailey is the founding partner of Adam Leitman Bailey P.C., and John M. Desiderio is Chair of the firm’s Real Estate Litigation Group.Colin E. Kaufman, another firm partner, contributed to the insurance issues discussed in the article.) Recently, the Appellate Division First Department, in ...

Residential 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 ...

A 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. “Because lenders mandate that homeowners in flood zones obtain flood insurance as a prerequisite to lending, ...

Post-Sandy Legal Advice on Real Estate, Insurance and Property Issues

By Adam Leitman Bailey. Dear Clients, These are trying times and they are testing our character and spirits. We shall overcome this and come back stronger.  As your lawyers, we are honored to be able to assist you during these trying times.  From both on the ground with reinforcements to our legal advice and notices like the one below, ALB PC will ...

Mortgage Interest Deduction, Once a Sacred Cow, Is Under Scrutiny

By PETER EAVIS A tax break that has long been untouchable could soon be in for some serious 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. But as President Obama and Congress try to hash out a deal to reduce ...

Lenders 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, ...

Reconsidering 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 homeowners’ and ...

Flood insurance too late for some, helpful for others

 By Meredith Machen After the shocking realization of how devastating flash floods can be, many in our region are starting to clean up and move forward. Some, however, have a little more help than others. A muddy and soaked mobile home in Washington County was the place Tabitha McCurry once called home. That changed when a nearby creek welcomed itself ...