By Adam Leitman Bailey and Dov Treiman October 9th, 2013 Real estate lawyers have been and will be the leaders of the rebuilding process of our storm-torn city. One of our most important functions is to prepare for the next storm or potential casualty. In order to improve our skills, it is essential that we learn Full Article…
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Use Get-Tough Lease Clauses to Discourage Chronic Late Rent Payments
By: Adam Leitman Bailey August 1st, 2005 It’s exasperating when a tenant repeatedly violates the lease by failing to pay its rent on time but then cures—that is, fixes—each violation by paying the late rent before it becomes a lease default. The worst thing is that you can’t break the cycle: You waste time and Full Article…
Adam Leitman Bailey, P.C. Achieves Winning Settlement On Behalf Of Coop Sellers In Landmark Housing Discrimination Case
In a case of first impression, Adam Leitman Bailey, P.C. successfully represented the sellers of a cooperative apartment in a housing discrimination suit against their former Coop arising from the Coop’s failure to consent to a proposed sale of the apartment to elderly purchasers. When the Coop failed to approve the sale, despite the purchasers’ Full Article…
Adam Leitman Bailey, P.C. Prevails as Second Circuit Upholds Title of Developer That Acquired Property Sold in H.U.D. Auction
Second Circuit Affirms Ruling Where Foreclosure Is Limited to Bidders to Governmental Entities, Local housing fund development corporations (HFDCs) and Lien holders. The U.S Court of Appeals for the Second Circuit upheld the right of a municipal/private development partnership to acquire a low-income apartment complex from the U.S. Department of Housing and Urban Development (HUD) Full Article…
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…
No Help for Jilted Sellers as Court Sticks With Precedent
n White v. Farrell,1 the New York Court of Appeals ruled that the measure of damages for a buyer’s breach of a contract to sell real property, where the contract does not contain a liquidated damages clause as the seller’s exclusive remedy,2 is the difference between the contract price and the fair market value of the property on Full Article…
Some Buyers Regret Not Asking: Anyone Die Here? The New York Times
By Stephanie Rosenbloom …Just as in New York, sellers in New Jersey are not required to tell buyers about a death on a property, or a rumor of a haunted house. “If it doesn’t harm the property, under no circumstances do you have to report it,” said Adam Leitman Bailey, who practices real estate law Full Article…
Q & A: Rent-Controlled Tenant in a Condo Conversion The New York Times
By JAY ROMANO Published: September 14, 2012 Q. What are the rights of a rent-controlled tenant who will not be buying in a building being converted to condominium ownership? Will owning a weekend home have an impact? A. Leonard H. Ritz, a Manhattan co-op and condominium lawyer, said that if this is a noneviction condominium conversion (as Full Article…
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