A real estate broker whispers to you that they have an off-market listing that is to die for, but you have no idea what an off-market listing is. More so, the way the real estate broker told you about the listing just sounds to you like something is not right about the transaction. Is this pocket listing even legal?
A pocket listing means that the real estate broker has a listing that is not being advertised to the public markets. Isn’t that an illegal monopoly? In the State of New York, contracts or agreements that refrain trade are illegal and void pursuant to the General Business Law §340, or what is commonly referred to as the Donnelly Act. The Donnelly Act is New York’s version of the federal Sherman Antitrust Act where the state and federal laws require identical basic elements.
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.
On March 31, 2019, Governor Cuomo signed the New York State Budget for the 2020 Fiscal Year . Notable changes include increased real estate ...
About
Attorney Andrew Lieb is an Attorney, Legal Analyst, & Political Strategist who actively appears on regional and national news and print media including Newsweek, FOX LIVE, NBC, NBCLX, TV 55, CBS, ABC, Court TV, FOX 5 NY, PIX 11, News 12, Newsy, and NewsNation. Radio appearances include America’s First News with Gordon Deal, The Ross Kaminsky Show, Jimmy Barrett, KPRC, KTRH, 1010 Wins, WFAN, NPR, WHPC, KOA, WRCN Radio.
Attorney Andrew Lieb is the Founder of Lieb at Law and Lieb School.
Blog Archive
Contact Form
Subscribe Via EmailSubscribe to our newsletter to get the latest updates to your inbox. ;-)