Our firm frequently has clients who own property that is in foreclosure. Often, these parties wish to sell their property and move on from the situation. Once a sales price is agreed upon, the important question to be asked is whether the proceeds from the sale are sufficient to pay off the…
Prior blog posts have discussed the effect of filing for bankruptcy on properties which may be in foreclosure. This post will explain what may happen to the property after a bankruptcy filing; namely, can the property still be sold to a third party, and under what circumstances. Once a party to…
Our firm wants to extend its best wishes to all Dads for a happy Father’s Day. We would like to mention some gift ideas of a legal nature that cannot be purchased in an ordinary department store. Your Father may be on the verge of retirement. As such, he may be…
Prior blog posts have discussed eviction actions after foreclosures in New York State. Recently, due to the increased number of cases going to a final judgment of foreclosure and sale, and then being sold, there is an increased amount of tenants in foreclosed properties. This post will discuss the legal status…
Now that the weather has finally improved in the New York metropolitan area and Memorial Day weekend is fast approaching, many of our readers may want to consider whether their cooperative building provides access to their rooftop. Carole King and Gerry Goffin , and later James Taylor , have sung these words…
Many landlords of commercial property require that the obligations of the tenant be guaranteed by an individual or affiliated entity. Most tenants of commercial leases are an entity, such as a corporation or limited liability company, whose only asset is the business engaged in the leased premises. If the entity…
If you are like this author , someone close to you may be about to turn eighteen years of age. This post will discuss the legal ramifications of turning eighteen. Additional rights and privileges as well as legal responsibilities occur once a “child” becomes eighteen. Such a person can now vote,…
Prior blog posts have discussed foreclosure proceedings, from the commencement of a foreclosure case to the entry of a Judgment of Sale and the public auction of the property. Many clients then ask, what happens next? Is it possible for the owner who has been foreclosed already to recover the property…