The Tax Cuts and Jobs Act was signed into law at the end of 2017 and will have an impact on homeowners in the United States. The mortgage interest deduction on a mortgage taken to purchase a home prior to December 14, 2017 allows a borrower to deduct interest on up to $1 million in Full Article…
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Sheltering the Homeless in Rent-Stabilized Units
October 10, 2017 By Adam Leitman Bailey and Dov Treiman As the city of New York seeks to phase out its use of rent-stabilized apartments as shelters for homeless people,1 the organizations that administer this program struggle for funding, and the courts struggle to find the correct theoretical framework to determine if the units are still Full Article…
Can Co-ops Allow Roommates?
Can Co-ops Allow Roommates? Q:I live in a self-managed co-op and we are getting conflicting information about whether co-ops can disallow roommates or not. We’ve heard that the board of directors has absolute decision making power over whether or not to allow roommates to move into a co-op. Others say it should be voted on Full Article…
Use Employee Log to Help Win Nonprimary Residence Case, New York Apartment Law Insider
Suppose you strongly suspect that one of your tenants isn’t a primary resident. After doing a little digging (either by yourself or with the help of a private investigator), you discover that most, if not all, of the time, the tenant isn’t living at the apartment. But you want some extra proof of this fact Full Article…
Q & A: Renting and Owning in the Same Building, The New York Times
By Adam Leitman Bailey Q. Is it legal to live in a rent-stabilized apartment and to also own a co-op in the same building? A. “It is perfectly legal,” said Adam Leitman Bailey, a Manhattan real estate lawyer, “Where the writer could run into problems is with the doctrine of primary residence.” He said there Full Article…
Select Issues in Representing HPD Supervised Mitchell-Lama Cooperatives, New York Real Property Law Journal
By Adam Leitman Bailey New York City Mitchell-Lama cooperatives provide heavily publicly subsidized maintenance payments to those lucky enough to call them home. The New York City Mitchell-Lama program provides 54,000 homes to persons whose financial circumstances would otherwise negate such a possibility. As a result, Mitchell-Lama cooperatives are extremely popular and have decade long Full Article…
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