Legal/Advocacy

Overview of New York’s Eminent Domain Procedure Law

January 2017

Both the New York State Constitution (Art. IX, Sec.1(e)) and the United States Constitution (Amend. V) permit governmental entities to take private real property for public use under eminent domain. The acquisition of real property, also known as condemnation, must give the private real property owner fair compensation, lest the governmental entity opens itself up…

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BARRISTER'S BRIEFING: Key Takeaway From Standard of Practice 3-6

January 2017

In the Realtor Code of Ethics, Standard of Practice (S.O.P.) 3-6 states: “Realtors shall disclose the existence of accepted offers, including offers with unresolved contingencies, to any broker seeking cooperation.” This particular Standard of Practice is illustrative of the overarching requirement of Realtors under Article 3: “Realtors shall cooperate with other brokers except when cooperation…

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State, City Crack Down on Building Owners For Non-Compliance With 421-A Regulations

December 2016

NEW YORK—Attorney General Eric T. Schneiderman, New York City Mayor Bill de Blasio and Governor Andrew M. Cuomo recently announced that the New York City Department of Housing Preservation and Development issued letters notifying owners of 178 residential buildings—with a total of 1,400 rental apartments—that their 421-a tax benefits will be revoked retroactively if they…

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BARRISTER'S BRIEFING: 2017 Will Bring New FHA Loan Limits

December 2016

On December 1, 2016 the Federal Housing Administration announced their new schedule of loan limits for 2017. The newly increased limits apply to most areas of the nation as a result of an increase in housing prices over the past calendar year. In those areas deemed by FHA to be “high-cost areas,” the FHA national…

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Hudson River Waterfront Alliance Releases Key Findings in Barge Anchorage Study

December 2016

YONKERS—Yonkers Mayor Mike Spano reconvened the Hudson River Waterfront Alliance at the Yonkers Waterfront Esplanade on Dec. 1 to announce the alliance’s maritime counsel and expert findings regarding the proposal by the Maritime Association of the Port of New York/New Jersey Tug and Barge Committee for 43 additional barge anchorages along the Hudson River from…

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LEGISLATIVE AFFAIRS: Realtors Support Renewal of Tax Provisions

November 2016

With the presidential election over we can now, hopefully, move on to the business of governing. The election brings a new administration and new priorities. For the housing industry it is important that we pass several pieces of legislation and be watchful of others. It is particularly imperative that we extend two critical housing tax…

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BARRISTER'S BRIEFING: HUD Proposes ‘Resilience Standard’ To Protect Communities From Flooding

November 2016

On Oct. 27 the U.S. Department of Housing and Urban Development proposed new elevation standards to be known as a “resilience standard” for all HUD-supported properties. These higher elevation standards specifically pertain to properties seeking HUD assistance or Federal Housing Administration (FHA) mortgage insurance. The proposed rule from HUD would mandate that properties considered to…

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LEGISLATIVE AFFAIRS: NY First Home Program Will Help First-Time Buyers

November 2016

The first time home buyer program, also known as the first time home buyer savings account program, is one of the keys to housing affordability in New York. Home ownership in the State of New York is currently at 52%, which is among the lowest in the nation. For most middle-income homeowners and lower income…

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NYS Fines PHH Home Loans $28 Million

November 2016

ALBANY—New York Gov. Andrew M. Cuomo announced on Nov. 9th that PHH Mortgage Corp. and its affiliate, PHH Home Loans LLC, will pay a $28-million fine and engage a third-party auditor as part of a consent order for violations of state and federal laws designed to protect homeowners. "New Yorkers deserve peace of mind when…

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LEGAL CORNER: PHH Corp., et. Al. vs. Consumer Financial Protection Bureau:

November 2016

What it Means and What's to Come From the CFPB   On October 11, 2016, the United States Court of Appeals for the District of Columbia Circuit issued an important decision in PHH Corporation, et al v. Consumer Financial Protection Bureau (No. 15-1177 D.C. Cir. 2016) arising from a legal battle that began approximately two…

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BARRISTER'S BRIEFING: Update on Facebook Advertisement Targeting

November 2016

All real estate Licensees are cautioned to strongly adhere to all federal, state and local laws pertaining to Fair Housing protections. Realtors have an additional duty to comply with Article 10 of the REALTOR Code of Ethics which states in part: “REALTORS® shall not deny equal professional services to any person for reasons of race,…

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LEGISLATIVE AFFAIRS: Key Fixes Needed for the Housing Market

November 2016

There are many headwinds facing the overall housing market in New York State. Some of them are high property taxes, strict land use regulation, and difficulty saving for a down payment.  Student debt has also been a big factor in preventing a boom in the housing market. What can be done to address some of…

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Airbnb Sues NY State Over NY Law Regulating NYC Rentals

October 2016

NEW YORK—Shortly after Gov. Andrew Cuomo signed legislation that would impose fines of up to $7,500 on hosts of rental housing portal Airbnb that break state and local housing regulations, Airbnb filed a federal lawsuit on Friday Oct. 21 to overturn the legislation. According to a report in the New York Times, Airbnb contends in…

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BARRISTER'S BRIEFING: HUD Releases New Guidance on Fair Housing Protections

October 2016

The U.S. Department of Housing and Urban Development (HUD) on Sept. 15, 2016 issued "Limited English Proficiency" (LEP) guidance that addresses how the Fair Housing Act would apply to claims of housing discrimination brought by LEP persons who do not happen to speak, read, or write English proficiently. Housing providers are therefore prohibited from using…

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BARRISTER'S BRIEFING: An Overview on Foreclosure Process in New York State

October 2016

New York State currently has the longest foreclosure timeline in the country, typically just under three years. If you are a homeowner in New York facing the prospect of foreclosure, this article is designed to give you a brief overview of the foreclosure process in our state. Foreclosures are judicial in New York, which means…

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