If you’re ready to take the important step of making a major commercial real estate purchase, you’ve got to figure out the best way to make it happen. While loans for residential real estate are generally assigned to an individual borrower, a commercial loan is generally placed with a business entity. With transactions of this […]
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Should NY Co-op Boards Give Permission for Reverse Mortgages?
You can always expect the unexpected when it comes to the NY co-op landscape. There are constant changes to the laws, so it’s important for co-op board of directors to be up to date with the evolving environment. A recent significant shift deals with reverse mortgages. Up until recently, reverse mortgages were only available to […]
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Should I Get a Pour Over Will?
If you don’t have a will, the law determines what happens to your assets. This is referred to as “intestacy.” Here, your assets will pass to your heirs according to New York’s intestacy statutes. Sometimes this will be in sync with what you want, but sometimes it won’t. If your assets are subject to intestacy, […]
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What You Need to Know About Estoppel Certificates in Commercial Leases
Estoppel certificates (also known as estoppel letters) are important documents used for due diligence in many real estate activities. Read on to learn how this impacts your New York commercial lease. What is an Estoppel Certificate? An estoppel certificate is a statement, which acknowledges that a commercial lease agreement exists. The tenant’s signature on this […]
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What is Time of the Essence in a Real Estate Contract?
If you’re involved in a home purchase, then you might find yourself coming across with a “time is of the essence” provision. You might have heard of this term before but weren’t sure what to make of it. What exactly, is time of the essence and why is it important in your New York real […]
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5 Tips for NY HOAs Rule Enforcement
Homeowners’ associations (HOAs) in New York and elsewhere exist to maintain home values, make amenities available that enhance the living situation and must establish policies that apply to all of the properties in the association. When a homeowner doesn’t follow this, the Board should act. Read on to learn about helpful tips to enforce HOA […]
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How Are Trade Secrets Protected in NY?
You can’t underestimate how significant trade secret protection can be when it comes to your business. These intellectual property rights for confidential information can serve an important role in establishing and maintaining certain aspects of any company. Read on to learn pivotal information about how the law protects trade secrets in New York. What Qualifies […]
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How to Handle a Business Partner’s Breach of Contract
When your business partner breaches a contract, it can feel like you’ve been stabbed in the back. Taking the emotion out of this, the way to handle a partner’s breach of contract largely depends on the relationship between the partners, the severity of the breach, terms of the partnership agreement, and the possible options available […]
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What Are Some Contingencies in New York Real Estate Contracts?
When you purchase or sell a home or other real estate, you will typically make an offer that may have some contingencies. A contingency is a condition that the parties may put into their real estate contract. Their presence is a way to protect the investment and to get out of the situation, depending on […]
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Understanding Misrepresentation in New York Business Disputes
Before committing to a contract or deal with another company, you likely want to protect your New York business entity by preparing and negotiating. Part of the conversation may include the expectations of duties and responsibilities when it comes to contract drafting. This can take a major turn if one party is not candid about […]
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