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Standing to Sue Sham Condo, Co-Op Sponsors Changed, New York Law Journal

By Adam Leitman Bailey and John M. Desiderio Kramer v. W10Z/515 Real Estate Ltd. Partnership, 1 a recent decision of the Appellate Division, First Department, is a case of great importance to purchasers of new condominium and cooperative apartment units. In a sweeping opinion, the court completely overhauled, if not expressly overruled, a line of  Full Article…

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Pitfalls for Buyers: Careful Drafting, Detailed Inquiries Minimize Risk, New York Law Journal

By Adam Leitman Bailey and Dov Treiman Recent case law demonstrates that buyers of residential property with rent-regulated units have been blind-sided by financial risks arising from their attorneys’ ignorance of rent regulatory laws. Although many of these cases go unreported, the recent decision of Newport Partners v. DHCR,1 is typical of the hazards uninformed  Full Article…

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Pifalls for Buyers: Careful Drafting, Detailed Inquiries Minimize Risk, New York Law Journal

By Adam Leitman Bailey and Dov Treiman Recent case law demonstrates that buyers of residential property with rent-regulated units have been blind-sided by financial risks arising from their attorneys’ ignorance of rent regulatory laws. Although many of these cases go unreported, the recent decision of Newport Partners v. DHCR,1 is typical of the hazards uninformed  Full Article…

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Power-of-Attorney Changes Scramble Property Transfers, New York Law Journal

By Adam Leitman Bailey and Dov Treiman As of Sept. 1, New York has abolished its old easy single-sheet statutory power of attorney form (POA) and replaced it with a tremendously complicated new law1 describing a highly complex new document with a misleadingly named optional rider.2 The 1948 original form and its successors were designed  Full Article…

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Adverse Possession: Veto Confirmed Existing Law on ‘Claim of Right’

By: Adam Leitman Bailey & John M. Desiderio September 12th, 2007 This past session, the New York State Legislature passed a bill1 that would have effectively eliminated the doctrine of adverse possession as we know it today. However, on Aug. 28, Governor Spitzer vetoed the bill noting the “radical impact” it would have had on  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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