On this week's episode of Eye on Real Estate, January 18, 2020, we were asked about suing a cooperative board for refusing a sale by creating an absolute floor price, which unit owners had to obtain in order to sell units to third-party purchasers.
Initially, we discussed the business judgment rule, which generally...
Showing posts with label Eye on Real Estate. Show all posts
Showing posts with label Eye on Real Estate. Show all posts
Monday, January 20, 2020
On this week's episode of Eye on Real Estate, January 18, 2020, we were asked about succession rights of a niece on rent controlled property.
NYC's Rent Guidelines Board actually answers this question as follows:
A rent controlled tenant cannot grant the right to live in the apartment through a will. Nor...
Friday, January 10, 2020
10
Jan
On December 20, 2019, Public Law No: 116-94 extended 26 USC 108(a)(1)(E) to 1/1/2021.
According to the IRS, this law "allows taxpayers to exclude income from the discharge of debt on their principal residence. Debt reduced through mortgage restructuring, as well as mortgage debt forgiven in connection...
Monday, January 06, 2020
06
Jan
On December 6, 2019, S4777, the Nuisance Call Act, became law and telemarketers must now give specific information to customers starting on March 5, 2020, the effective date of the law, or face heavy fines.
Under the Nuisance Call Act, General Business Law section 399-z now requires that a "telemarketer or seller [] inform[s]...
Tuesday, December 24, 2019
24
Dec
On December 23, 2019, S5160 was enacted and "the defense, in a mortgage foreclosure action, of the plaintiff's lack of standing is not waived because of the defendant's failure to raise such defense in his or her responsive pleading."
A standing defense is utilized to argue that the plaintiff is not the right...
