Our firm has often been consulted by clients who inherited a house from their parents, and wish to sell the property, as they may have moved out-of-state, and the property became vacant after the passing of the last parent. Usually, this is a straightforward transaction, which often requires legal assistance…
Clients consulting our firm with respect to will drafting often ask how to leave a house or cooperative apartment to potential heirs when there may be more than one surviving child. Perhaps a person owns a house and wants to leave it to all three of her children in her…
We previously posted about significant changes to the rules concerning real estate agents’ commissions. These changes became effective in recent days. Previously, sellers paid a commission to the buyer’s agent in the amount indicated in the listing in the multiple listing service (“MLS”), the primary source of real estate listings. …
We would like to inform our readers that Transfer on Death Deeds (“TOD”) will become an option for property transfers in New York as of July 19, 2024. Real property such as a house, condominium unit or vacant land is currently transferred by deed. There are currently various types of…
We have previously posted concerning a significant amendment to the property condition disclosure law in New York. Previously, sellers of residential real estate were required to complete a detailed questionnaire concerning property conditions or issue a $500 credit at the closing for failure to deliver the document. Many sellers, especially…
We have been following several national Court rulings concerning compensation paid to buyer’s real estate agents. A significant Federal Court ruling involved the National Association of Realtors, owner of the powerful “Realtor” trademark. The case found that a seller should not be required to pay the buyer’s agent’s commission as…
Caveat emptor is a Latin phrase loosely translated to mean “let the buyer beware.” Real estate in New York State has customarily been transferred under this concept, meaning that the seller is not obligated to disclose property conditions and the onus is on the buyer to discover conditions that may…
News outlets have recently reported that Senator Dianne Feinstein has given a power of attorney to her daughter. Concerns over the Senator’s mental competency have arisen as a result. For the reasons discussed in this post, appointing an agent by power of attorney does not necessarily mean that one is…
Tony Bennett was beloved by those young and old not only as a talented singer, but as a World War II veteran and civil rights icon. His recent death at the age of 96 was not unexpected. This post will identify the legal issues that may be raised when a…
This post comes with a “spoiler alert” warning. Like many, this author has become obsessed with the Max show Succession, not merely as a television viewer, but for the legal issues raised by the storylines. We will discuss the multiple legal issues covered in the Emmy award-winning series. The jaw…