Our firm is called upon to both defend and prosecute mortgage foreclosure actions. One of the first questions that should to be asked is who holds the mortgage loan, meaning the party who is entitled to bring the action. In most cases, it is an “institutional lender,” such as a bank…
Some of our clients have recently inquired as to whether their cooperative board may have been declined their proposed sale because the proposed purchase price is too low. As we have indicated in previous posts , cooperative boards can decline a purchase for any or no reason so long as such reason does not…
A recent article in the New York Times discusses a large-scale study of evictions in the United States. More than 83 million records were studied, and the impact on the our society as a whole was further examined. Our law firm is a rarity in that we represent both landlords as well…
Our firm is often retained to defend property owners whose home is in foreclosure. Most often, the entity bringing the foreclosure proceeding is a major lending institution, such as a national bank or credit union. However, there are two sides to every story. Some of our clients are individuals who have…
Consider the following scenario. A shareholder in a cooperative has been trying to sell her apartment because circumstances have resulted in her opportunity to buy a house in a sunny location out of town. Her buyer is a young professional gentleman who wants to own, rather than rent, and build…
Our firm is frequently engaged to handle disputes over property ownership. In many cases, a partition action is necessary. This post will explain the essential components of such an action. The first and most important element is that the dispute be over real property. Although there can be disputes over…
Our readers may be aware that there is a movement to pass sweeping Federal tax reforms. Some analysts have suggested that such proposed legislation may not be favorable to highly taxed areas such as New York and that home ownership may be discouraged as a result. The proposed legislation in…
In the course of an ordinary real estate transaction, our firm orders a title report on the property being sold. Contained in the title report is a judgment and lien search, which shows any outstanding judgments against the seller and liens against the property. Why is this important? In New…
The New York Post recently reported a news story wherein a condominium property manager “decorated” the common areas of the building with Nazi and other historic propaganda relating to dictators. Residents of the building felt threatened and intimidated by other activities of the property manager, including alleged physical threats. This…
Financial troubles can be the cause of much stress for married couples. Often, these stresses lead to a couple separating, and ultimately, divorcing. In such situations, there will always almost be issues regarding the marital residence, be it a house or an apartment. Due to the financial issues, the property…