By Adam Leitman Bailey While for many lay people, cooperatives and condominiums are essentially interchangeable, from the legal point of view they are radically different institutions. Much of this difference can be attributed to history. Co-ops have existed in one form or another for a thousand years; condos have only been around for 50. As Full Article…
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Certifying Professionals May Be Subject to Lawsuits, New York Law Journal
By Adam Leitman Bailey and John M. Desiderio Assured Guaranty1 and Kerusa2 decisions, the New York Court of Appeals has made it clear that preemption is no longer an issue in private securities and real estate syndication cases where plaintiffs allege common law causes of action that overlap possible violations that only the attorney general Full Article…
Condo Arrears? Try DILF. It Means More than ‘Debtors I’d Like to … Foreclose On’, Habitat Magazine
By Adam Leitman Bailey Most condo boards that attempt to collect common charges from delinquent unit-owners are faced with essentially three choices – enter into a payment plan with the defaulting resident, sue for money damages or foreclose. The problem with the payment-plan option is that when a unit-owner misses a payment, the board must Full Article…
The Fine Lines in Suing to Evict Tenants’ Families, New York Law Journal
By Adam Leitman Bailey When it comes to subletting, relatives are in an entirely different category than other persons. Relatives stand at the boundary line between family members who occupy the premises as an incident of the family relationship1 and strangers who bought into the right or privilege to occupy the premises.2 While occupancy as Full Article…
Leasing Dinosaurs, New York Law Journal
By Adam Leitman Bailey and Dov Treiman All of the commercially available form leases for rent-stabilized tenancies are admirable examples of attorney language crafting. They were in their day the latest brilliant word in what sorts of protections a landlord would want to have for the landlord and begrudge to the tenant. They carefully walked Full Article…
New Construction: What You Need to Know, New York Living
By Adam Leitman Bailey When you buy a newly constructed property, you hope to live in a home with the most technologically advanced electrical, ventilation, and air-conditioning systems, and the latest appliances, fixtures, and plumbing. You also want the advantage of owning brand-new big-ticket items, such as the boiler and roof. The replacement or repair Full Article…
The Ins, Outs and All Arounds of New Construction, Divisions of Ubell Enterprises
By Adam Leitman Bailey When you buy a newly constructed property, your hope is to live in a home with the most technologically advanced electrical and ventilation systems, the latest appliances, the best fixtures, and perfect plumbing. You also want the advantage of owning brand-new big –ticket items such as the boiler and roof. The Full Article…
Adam Bailey Gives Advice on Pet Policy in Habitat Magazine’s 2002 Attorney Survey, Habitat Magazine
ADVICE ON PET POLICY This has been an active and exciting year to be rendering cooperatives legal advice. The second highest court in the land gave incredible deference to cooperative boards by determining that the courts are prohibited from inquiring into actions of corporate directors taken in good faith and in the exercise of honest Full Article…
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