This is fantastic news and shows that we are slowly emerging from the ever present effects recession.

Lets hope that this is a precursor to increased home sales. With less people talking foreclosure, consumer confidence should raise and people will feel safer making the large purchase of a new home. Here comes a better tomorrow.

To learn more about the STAR program overall and legislation concerning this topic, click here.

Savings is better than spending and in this economy any increases in savings is a good thing.

The Court ruled that regardless of the terms in a lease, equity or fairness could trump the parties agreement. Specifically, the Court stated a test for the tenant to exercise the option even where it failed to notice the landlord pursuant to the terms of the lease. The test is: (1) The landlord was not prejudiced by the delay in notice; (2) The delay was excusable; and (3) The tenant created value (which can only be for the tenant's behalf) in the premises or had made improvements to the premises

This is a scary decision for landlords who rely on the terms of their agreements to make proper business decisions. In the wake of this decision, landlords should assume that a tenant's failure to renew by notice is not grounds to evict. Instead, the landlord must now go the extra step of getting confirmation that the tenant wishes to vacate in order to have a reliable working premises for their property. Basically, the Court puts the burden on the landlord for determining the tenant's intent to not renew regardless of the agreement of the parties. While its always been a residential tenant's world, it appears that the commercial tenant is not falling far behind in default rules in its favor. Landlords beware.

It seems law schools are catching on as Pace Law School has just launched a "Legal Residency Program" for entry level attorneys.

While the Pace Law School program is geared towards training new attorneys while they provide low cost legal services to the public, as their public statements represent, the Long Island Education Board, a division of Lieb at Law, P.C., is focused on Lieb at Law, P.C. attorneys becoming teachers themselves to achieve the highest level of client services. Therefore, two different aspects of the medical model are being replicated. Its theorized that a combination of the both; whats done in medical school, will be what ultimately results in the best results.

Congrats to Pace and their innovative approach. Your friends at the Long Island Education Board support this endeavor and will monitor your success. Best of luck.

To read a NY Times Article, click here.