New York Real Estate Legal Blog
How to work with financially struggling shareholders
Countless New Yorkers are living in financial uncertainty. And, as some tenants in co-ops struggle to pay their rent or maintenance, co-op boards are starting to feel the pinch. Many properties, like co-ops, require collective participation by occupants to help pay...
Court of Appeals Ruling Is Huge Win for Landlords
In June of 2019 the New York State Legislature enacted the Housing Stability and Tenant Protection Act (“HSTPA”). The HSTPA dramatically changed the nature of rent overcharge claims, which are claims by a rent regulated tenant that he or she has been charged more rent...
How can co-ops and condominiums protect residents from COVID-19?
As the coronavirus pandemic sweeps the nation, New York City co-ops and condominiums are grappling with difficult questions. Social distancing – the frontline strategy that’s so essential for mitigating the spread – is much more complicated in New York City than, even...
Can a Child Occupy a Co-op Apartment if the Shareholder’s Parents Are Not in Residence?
Can a cooperative shareholder’s family member reside in their apartment without the named shareholder living there? New York appellate courts (who review decisions from lower courts and whose opinions control future lower court decisions) have differed in answering...
Considerations when buying a NYC coop
If you live in New York City, you already know that real estate here is like nowhere else on Earth. One of the most complicated matters involves purchasing a unit in a cooperative building, commonly known as a coop. With this common structure, a company owns the...
3 things to note before buying a co-op
The idea of a real estate cooperative is something many people can get behind. Knowing you share ownership with others and can form your own small community with like-minded people is often a huge draw. However, buying a co-op requires good business analysis because...
Holder of Unsold Share Status Struck Down
A decision of the Appellate Division, 1st Department issued at the end of February 2019 may be a real game changer for cooperatives that have individuals who own units as holders of unsold shares. In a brief decision in Pastena vs. 61 West 62nd Street (Read decision...
Do you know which rights disabled tenants have?
While becoming the landlord of residential property in New York is a great way to earn extra income, you have to be up on the most recent laws related to landlords and tenants. There may come a time when you have a disabled person submit an application. One of the...
Timeframes to pursue litigation for construction defects
Homeowners in New York City want the best result from building contractors, and while many property owners receive satisfactory results, there are times when construction defects are discovered or the results were otherwise not what the contractor had promised. If...
What are New York’s legal requirements for a quitclaim deed?
A quitclaim deed transfers real estate interests from one party to another. It is a special type of deed in which the grantee takes ownership of the interests the grantor has at the time of the deed’s execution – whether or not the grantor is the actual property...
