By Adam Leitman Bailey and Jackie Halpern Weinstein To protect the integrity of this nation’s property transfer system, the robo-signing controversy must result in a better system of transferring property and loans. Beneath this public debacle exists another old timer in the world of recording: property transfer mistakes. Improper, mistaken, or wrongly executed and indexed Full Article…
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Cooperative Foreclosure: The Accidental Doctrine
By Adam Leitman Bailey and Dov Treiman Although the lack of judicial supervision of the cooperative foreclosure process for default upon cooperative apartment mortgages vastly simplifies the lives of lenders’ counsel, under the latest changes in the foreclosure statutes, it creates a nightmare for the title industry insuring titles down the line from such a Full Article…
Adverse Possession in a Post- ‘Walling’ World
By: Adam Leitman Bailey & John M. Desiderio October 12th, 2011 In a prior article, which reviewed adverse possession cases decided by New York courts in the two years following the 2008 amendments to Article 5 of the Real Property and Proceedings Law (RPAPL), the authors noted that “during this period of transition, the courts Full Article…
Preventing Fraud at Closing
November 1st, 2009 There are some simple yet effective steps that can be taken to avert fraud at a real estate closing. At the start of the 21st century, the most effective means to rob a bank no longer includes the use of a gun. The real estate closing table has replaced the gun and Full Article…
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…
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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