LIEB BLOG

Legal Analysts

Monday, July 10, 2017

Estate Tax Lien Releases Incident to Real Estate Transactions

When selling real estate with an executor’s / administrator’s deed or as heirs at law, incident to the death of the owner, seller’s counsel must address both federal and state estate tax liens that automatically attach to real property on the date of death. Importantly, these liens attach and are effective without recorded notice. 

Read the full article published in The Suffolk Lawyer by Andrew Lieb, Esq.

Thursday, July 06, 2017

BRAND NEW VIDEO CE | Brokerage Lawsuits ONLINE | 4 CE Credits | Lieb School



Brokerage Lawsuits ONLINE is a 4 credit online video real estate CE approved by NY DOS for license renewal. 

This course was developed and instructed by Andrew Lieb, Esq., a premiere NY real estate litigator and compliance trainer that focuses his legal practice on real estate brokerage litigation. 

While enjoying the comfort of your home, you can learn how to sue them for your commission! It’s not simple and it usually takes forever to obtain a favorable resolution. More so, litigation creates exposure for the real estate brokerage and salesperson regardless if they are the plaintiff or the defendant.

This 4 hour course will explain the process of different dispute resolution options such as negotiations, mediation, arbitration and litigation. After completing this course, you will be able to articulate the impact of the Real Estate License Law on such lawsuits, the availability of pre-action Affidavits of Entitlement and Mechanic's Liens to real estate brokers, and how ethics complaints work before the Department of State.

More so, you will understand how the law determines if they are right in their claim or defense by explaining the potential lawsuits for commission and the most common claims against brokerages.

(Works on IPADs, TABLETs, PCs & MACS)

$35.00

Thursday, June 22, 2017

New York State First Home Savings Program Passes Both Houses

A new tax incentive is almost available for purchasing your first home. Legislation has passed both the NYS Senate and Assembly (it is returned to the Assembly before going to the Governor).

The program will work for the purchase or construction of a home, townhome, condominium or unit in a cooperative housing corporation.

Under the account, up to $100,000.00, exclusive of gain, can be invested and withdrawn without state personal income tax if the money is used for purchasing or constructing a first home purchase.

Better yet, parents can create these accounts for their children, where a child would be called a “designated beneficiary” under the statute.

However, to constitute a first time home buyer, whether as a designated beneficiary or on one’s own account, an individual cannot have had any prior “ownership interest in a principal residence at any time” both in the “United States or abroad.”  To clarify, an individual does not have an ownership interest if they expect to inherit property or even if they own the remainder interest under a trust.
 
If the first time purchaser qualifies there is a requirement to utilize the home as a primary residence for “not less than two years after purchase.”

Stay tuned as the legislation makes its way to the governor's desk and then, parents can start saving for their children's first home like they do on a 529 Plan for college.