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Q & A: Adding ‘Partners’ to Co-op Shares, The New York Times, Speakers: Jay Romano

By Adam Leitman Bailey May 12th, 2010 Q.  What rights does being registered as “domestic partners” in New York City convey in regard to real estate? I moved into my partner’s co-op five years ago, but the board refuses to add my name to the shares and proprietary lease. A.  Adam Leitman Bailey, a Manhattan  Full Article…

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Navigating Buyers and Developers Through New Construction Deals, New York Law Journal

By Adam Leitman Bailey and John M. Desiderio May 3rd, 2010 In late 2008, the real estate sky had started to fall and fall quickly. As a result of the loss of financing and wages, many purchasers in contract to buy a unit in a newly constructed building were either no longer able or willing  Full Article…

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The Inquiring Mind: Buying Building with Separate Heating Plant, New York Housing Journal

Q.  I’m thinking of buying a building that doesn’t have a separate heating plant. Instead, each apartment has individual electric baseboards. The tenants pay for the electricty for these baseboard units. Will I be able to continue to use that system? A. The law requires that multiple dwellings (that is, buildings with three or more  Full Article…

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Reducing Refinancing Expenses

By LISA PREVOST New York homeowners looking to refinance an existing mortgage don’t have to pay the state’s mortgage recording tax all over again. Yet they may end up doing so if their lenders don’t cooperate. The state charges a recording tax on new mortgage debt. The rate varies by county, with the minimum being  Full Article…

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The Inquiring Mind: Buying Building with Separate Heating Plant

By Adam Leitman Bailey Q. I’m thinking of buying a building that doesn’t have a separate heating plant. Instead, each apartment has individual electric baseboards. The tenants pay for the electricty for these baseboard units. Will I be able to continue to use that system? A. The law requires that multiple dwellings (that is, buildings  Full Article…

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Defining When “Time is of the Essence”

By: Adam Leitman Bailey & John M. Desiderio May 9th, 2007 The Court of Appeals has recently reemphasized, for sellers’ attorneys, the importance of drafting clear and unequivocal “time of the essence” clauses in those real estate contracts where circumstances justify conditioning the sale upon the buyer’s timely performance of one or more stated conditions.  Full Article…

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