In New York, as in many other states, the closing process is a long and arduous one and the new Remote Online Notarization (“RON”) law [see https://bit.ly/3SIBHX8] provides one of the tools to speed up the process in the future. Remote notarization laws in New York and across the nation move the closing process one…
Read MoreStudies conducted in 2014 by the New York State Energy Research and Development Authority projected precipitation in the New York region to increase by 1%-8% in the 2020s, 3%-12% in the 2050s, and 4%-15% in the 2080s. New York coastlines and the lower Hudson tidal areas are predicted to rise by 3-8 inches in the…
Read MoreOn June 30, 2022, the Supreme Court in Albany County found the “Good Cause” Eviction Statute to be null and void. The Supreme Court in Pusatere v. City of Albany found that Albany’s Good Cause Eviction law (Local Law F of 2021 [see https://bit.ly/3Rt4yOa]) was in direct conflict with and preempted by New York State…
Read MorePreparing and executing a listing agreement is common for many agents; almost too common. Because agents are used to the process, because they are excited to get a listing, and because they are anxious to get the property on the market, sometimes things are overlooked. It’s important that you take your time to ensure that…
Read MoreOn June 10th, the U.S. Bureau of Labor Statistics reported that the Consumer Price Index (CPI) rose 8.6% in May from a year ago, which marks the highest increase since December 1981. [See https://bit.ly/3Hg0hZP]. The increase in inflation was much higher than expected and will continue to put downward pressure on the economy into the…
Read MoreAs you all may recall, back in 2021, as a part of sweeping legislation designed to curb discrimination, Gov. Kathy Hochul signed into law a provision that empowered the New York State Division of Human Rights to “promulgate regulations requiring every housing provider … to provide notice to all tenants and prospective tenants … of…
Read MoreThe New York State Legislature gaveled out in the early hours of June 4th, marking the end of Kathy Hochul’s first session as governor and the beginning of what promises to be a chaotic election season courtesy of court-imposed electoral maps that will upend the political landscape in New York and beyond. Obfuscated by the…
Read MoreOver the years there have been a multitude of lawsuits filed involving whether a valid contract was entered into between purchasers and sellers of real property. Recently, in Cohen v. Holder, the Appellate Division, Second Department, issued an opinion dealing with this issue once again. The Statute of Frauds is a common law concept that…
Read MoreReal estate transactions begin and end with contracts. Lots and lots of contracts. This month, I’m going to address some issues related to these contracts. Executing a Contract While an agent is the party who meets with the client (buyer or seller), negotiates all the terms, and does all the “heavy lifting,” it’s the broker…
Read MoreThe legislative and judicial landscape continues to change for New York real estate licensees and the entire real estate industry. New developments are taking place each day and now, more than ever, it is important for real estate licensees and real estate professionals to keep up to date with all of the changes. As discussed…
Read MoreIt’s that time of the year again—tax season! It is an important time of the year to revisit some of the tax deductions and benefits available to real estate owners and real estate agents. Even with all the negative issues (e.g., inflation, increasing interest rates, higher energy and food prices, and much more) affecting the…
Read MoreBack in November 2020 I authored an article regarding buyers sending personal letters, otherwise known as “love letters” to sellers. The purpose of that article was to highlight the potential discriminatory use of those letters. At that time, the Newsday article “Long Island Divided” and its investigation into discrimination was still fresh, and the National…
Read MoreIn a recent decision, 14 East 4th Street Unit 509 LLC v. Toporek [see https://bit.ly/339BzL5], the Appellate Division, First Department discusses the requirements contained in the Housing Stability and Tenant Protection Act of 2019 relating to the landlord’s duty regarding security deposits and landlord’s duty to mitigate damages upon a tenant breach of the lease.…
Read MoreAs members of HGAR, you are a REALTOR®. That REALTOR® mark signifies a member’s commitment to protecting clients, the public and other real estate professionals, as well as to conducting business with integrity and providing high standards of real estate service. It’s a privilege to be able to use that mark. Whether you realize it…
Read MoreOn Dec. 21, 2021, Gov. Kathy Hochul signed expansive new legislation contained in nine bills aimed to combat housing discrimination in New York State [see https://on.ny.gov/3FfcBXJ]. The legislation was passed as a direct result of Newsday’s investigative report entitled “Long Island Divided” [see https://bit.ly/3zKUQP0] and addresses many of the concerns and issues uncovered in the…
Read MoreHappy New Year!! I hope this month’s article finds everyone well and reenergized for 2022. As we return to work in this new year, I thought I would use this article to provide a refresher of the latest-and-greatest of the changes that are impacting your real estate activities. Enjoy. State of Emergency Executive Order and…
Read MoreIt has been over two years, Nov. 17, 2019, since Newsday published its comprehensive and devastating investigative report entitled “Long Island Divided” [see https://bit.ly/3yq9Elz]. The article sent shock waves through the entire real estate industry. Newsday’s article became the catalyst that launched a major movement, led by state and local governmental officials and agencies, such…
Read MoreThe end of the legislative year in Washington D.C. is at hand and as of this writing Congress passed a landmark infrastructure bill that President Biden signed into law. This was indeed ground-breaking. The country has not had a multi-year infrastructure bill since President George W. Bush signed the bill into law in 2005. Billions…
Read More(Editor’s Note: Part two of a two-part series) In the first part of my “Stand and Deliver” column for Real Estate In-Depth published in the November edition, I noted that with the holidays fast approaching, it seemed an appropriate time to give a refresher on the need for Realtors to cooperate, show courtesy and to…
Read MoreIn 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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