Monday, October 9, 2017

Good Faith Purchaser for Value's Ability to Record Memorandum Heard by Second Department

Andrew M. Lieb discusses the Appellate Division case of Vanderbilt Brookland, LLC v. Vanderbilt Myrtle, Inc., which clarifies the strict statutory recording requirements necessitated to establish bona fide good faith purchaser for value status when the recording is a memorandum of purchase and sale agreement rather than a contract of sale. This case matters when there are competing title claims of priority by differing contract vendees to the same real property. 

Read the full article published in the Suffolk Lawyer here.