By Adam Leitman Bailey, Dov Treiman and Jackie Halpern Weinstein Basic to any lawyer’s understanding of the recording statutes,1 is the concept that the proper recording of an instrument in recordable form places “the whole world” on notice of the interest claimed in the recorded instrument.2 In a July 2011 Supreme Court decision from Brooklyn, Full Article…
By Adam Leitman Bailey and Dov Treiman When the Supreme Court decided Jones v. Flowers,1 it exacerbated a nagging problem for the title insurance industry – the necessity to do constitutional analysis when examining chains of title. With the current state of the economy, tax foreclosures are increasing. Thus, more properties have these ambiguities in Full Article…
By Adam Leitman Bailey and Dov Treiman In Homer’s Odyssey, the protagonist, Odysseus, is called upon to sail his crew through the Straits of Messina, passing between two legendary monsters, Scylla and Charybdis. To avoid one, the only option was to approach the other, risking a horrible death in either instance. Odysseus was at times Full Article…
By Adam Leitman Bailey and Jessica D. Scherer As a result of the Statute of Fraud’s brokerage commission exception, real estate owners should not engage or utilize the services of a real estate broker or enter into any transaction involving a real estate agent without a written agreement declaring that a commission shall only be Full Article…
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…
By Adam Leitman Bailey and Dov Treiman In an era when this nation’s economic stability depends, in part, on stable and unfettered real estate transfers, equitable subrogation provides a solution to some of the cracks in the system. However, as evidenced by a split between two departments of the Appellate Division, these cracks need some Full Article…
By Adam Leitman Bailey and Dov Treiman For the past four years, nearly every title company providing title insurance in the United States of America has been scrambling to interpret federal and state court decisions setting the rules for determining when a tax foreclosure sale will be safe from judicial knockouts. When the U.S. Supreme Full Article…
The New Rules of Foreclosure Litigation By Adam Leitman Bailey and Dov Treiman Since the first loans and mortgages changed hands with cloaks and stone in Israel[1] and Greece[2] thousands of years ago[3], never previously had mortgages caused a worldwide economic collapse of financial markets. Unfortunately, as the federal and state government as well as Full Article…
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