The Home Equity Theft Prevention Act became effective on February 1, 2007.  It amends 595 of the Banking Law, and adds new sections to both the Real Property Actions and Proceedings Law (RPAPL). This article will examine the new provisions created by the Act. What is home equity theft? Home equity theft, also known as …
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Ownership of real estate in New York City can be one of four distinct legal types – traditional home ownership of a townhouse or three different  forms of ownership for apartments in multi-unit buildings: a co-op, a condo or a condop. Townhouse (brownstone) ownership is no different from ownership of any traditional single-family or duplex …
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Landlords use lease assignment provisions to maintain control over the quality, composition, and financial capability of their tenants. However, assignment provisions can have a chilling effect on a corporate tenant’s business operations and ownership structure. In this article, we explore the various pitfalls that corporate tenants should avoid when negotiating and drafting assignment provisions in …
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