Commercial leases in New York are not immune to the effects of COVID. Enforced shutdowns of “non-essential” businesses by governmental authority has led to mass closure of many retail stores and restaurants and record-high unemployment rates. Even restaurants limited to the restriction of takeout and delivery service are suffering severely…
A prior blog post discussed inheritance of real property. For example, a parent passes away and leaves a house in equal shares to her three children. The three children are now co-owners of the property. Of course, each co-owner may be in a different life situation. For example, one of…
Despite current conditions, the purchase and sale of real estate in New York is continuing. This post will discuss how COVID-19 has changed the “nuts and bolts” of an ordinary transaction, from start to finish. First, let’s assume a homeowner wishes to list her home for sale. Due to social…
Weiss & Weiss would like to wish all those who celebrate safe and happy Passover and Easter holidays. We’re hoping everyone stays healthy during these difficult times, and look forward to better times ahead.
A prior blog post discussed the effects of the coronavirus situation on real estate in New York. Since that post, things have certainly escalated quickly. Most of the economy, not just in New York, but throughout our entire country and the rest of the world, has shut down, as governments…
Unless you have been living in isolation on a deserted island, you are aware of the recent coronavirus situation. In order to avoid contaminating large numbers of people, many businesses have closed, and many individuals are remaining at home rather than venturing outside. This blog post will discuss the effects…
A recent decision in a case in upstate New York discusses issues relating to the denial of an application for a foreclosure judgment. In a foreclosure case, the plaintiff, who is usually a bank or other lending institution, must apply to the Court for a judgment. Often, after the case…
News outlets have recently reported that Lady Gaga’s father is refusing to pay the rent due on the commercial restaurant space occupied by him in Grand Central Terminal. Essentially, he has claimed that physical conditions interfere with the successful operation of his business. These conditions allegedly include a growing…
Most of us have been recently inundated by reports of the Coronavirus pandemic. Although many of our readers do not travel to some of the afflicted locations, fear has a way of becoming contagious in its own right and can have negative business consequences. Fundamentally, the fear is…
New York State has passed several laws that protect homeowners who may be subject to a foreclosure action. One of these laws requires that a settlement conference be held for a homeowner when his primary residence is in foreclosure, due to his failure to pay their mortgage, taxes, or other…