LEGAL CORNER: A Tumultuous 2022 and an Optimistic Look Ahead at 2023

January 10, 2023

Real estate investment and housing make up a very important and critical component of the U.S. economy. Housing averages roughly 15% to 18% of the Gross Domestic Product (GDP) annually. The National Association of Home Builders (NAHB) explains that the contribution of real estate and related services to GDP occurs in two ways: (1) “Residential…

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BARRISTER'S BRIEFING: They Might Be Watching or Listening: New Eavesdropping Disclosures

November 14, 2022

For years, people have been able to eavesdrop on others. This had been done by wiretapping phones, electronic listening devices and cameras. Sometimes these devices are obvious; other times, they’re hidden. Today, home security systems and “nanny cams” are everywhere. Recently, NYSAR came out with new disclosure forms and recommended disclosure language relating to the…

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LEGAL CORNER: Recent Court Decision and a Review of Adverse Possession

October 12, 2022

While many real estate professionals are familiar with the concept of adverse possession, few consider the issues that can arise when selling and purchasing real property. The concept has been around for ages. In its basic form, the concept allows a person who takes possession of real property, makes improvements to it, possesses it in…

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LEGAL CORNER: Real Estate Contracts, Leases and the Statute of Frauds

May 11, 2022

Over 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…

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BARRISTER'S BRIEFING: Contractual Agreements: Binding Parties and Termination

May 3, 2022

Real 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…

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