LEGAL CORNER: Court Decisions Regarding ‘Time of the Essence,’ ‘Reasonable Time,’ Retaining the Down Payment in Transactions

November 12, 2021

In connection with every real estate transaction in New York, real estate attorneys and real estate agents discuss with their clients, whether they are sellers or buyers, what the “closing date” will be and how it is to be determined, often utilizing terms such as “on or about closing date,” “reasonable time” and “time of…

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BARRISTER'S BRIEFING: Getting More Than One Month’s Rent in Advance: Seasonal Rental Amendment to the Housing Stability and Tenant Protection Act

October 12, 2021

Back in 2019, the New York legislature enacted a broad new law that provided sweeping housing reforms and protections for tenants relating to permanent residential housing. Among these rent regulations was one that caught many landlords and real estate agents by surprise and I am still asked, nearly two years later, to confirm or explain…

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LEGISLATIVE AFFAIRS: September Legislative Update

September 7, 2021

Realtors won a victory at the federal level when the Supreme Court struck down a CDC eviction moratorium by a 6-3 margin reasoning that the CDC exceeded its authority to issue the moratorium absent Congressional legislation. Forty-two billion dollars in rental assistance was passed by Congress in March. To date, nationally, only $11 billion has…

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LEGISLATIVE AFFAIRS: August Legislative Update

August 9, 2021

Eviction Moratorium Saga Continues, Cold Calling Ban, Co-Op Transparency Law in Effect The tenant eviction moratorium has gone back and forth. The U.S. Supreme Court ruled that it was unconstitutional, but also ruled that it could remain in place until it expired in July. Most recently, based on pressures from tenant advocacy groups, the administration…

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LEGISLATIVE AFFAIRS: July Legislative Update

July 28, 2021

It is now the end of July, and the COVID rental assistance has not yet been processed by Gov. Andrew Cuomo. To date, New York is only one of two states that has not released its COVID rental funding assistance to tenants and landlords. This has exacerbated an already dire situation for those tenants unable…

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LEGISLATIVE AFFAIRS: Now is the Time for the State to Act on Co-Op Reform

July 6, 2021

This past HGAR scored a big victory on Co-op transparency legislation and fair housing. The Westchester County Board of Legislators passed, and County Executive George Latimer signed a bill mandating co-ops provide a reason in writing to buyers if they are rejected by a co-op board from the purchase of a co-op. They also must…

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Department of Justice Withdraws from Settlement with NAR; Promises ‘Broad’ Investigation of NAR’s Rules and Conduct

July 2, 2021

WASHINGTON—The U.S. Department of Justice announced on July 1 it was withdrawing from a settlement it had reached with the National Association of Realtors last November in order “to permit a broader investigation of NAR’s rules and conduct to proceed without restriction.” The U.S. Justice Department has also filed to voluntarily dismiss its complaint against…

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BARRISTER'S BRIEFING: The End of the State of Emergency: So Now What?

June 28, 2021

The New York State of Emergency effectively ended on June 24, 2021. With its ending, many of the regulations enacted by the governor ended as well. We’ve been waiting for this emergency to end for over a year. So now with the ending of the emergency and a transition back to what is “normal,” Realtors…

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LEGAL CORNER: Recent Ransomware and Cyber Attacks: The Real Estate Industry Must Beware!

June 18, 2021

Recent ransomware attacks and major hacks have thrust into the spotlight the importance of businesses, including those in the real estate industry, having the necessary protocols and protections in place to protect themselves and their clients from cybercriminals. During the COVID-19 pandemic there has been a substantial rise in cybercriminal activity. The recent ransomware attacks…

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