On April 5, 2007, the Court of Appeals voided a decade-old court-ordered stipulation that had settled a contested litigation over a rent-stabilized apartment. The landlord in Riverside Syndicate Inc. v.
When Is a Settlement Binding?
On April 5, 2007, the Court of Appeals voided a decade-old court-ordered stipulation that had settled a contested litigation over a rent-stabilized apartment. The landlord in <i>Riverside Syndicate Inc. v. Munroe, et al.</i> 10 N.Y.3d 18, was allowed to renege on a settlement on the theory that the stipulation violated public policy and unlawfully waived the tenant's rights. The ramifications of this ruling are extraordinary. A party to a court ordered settlement can reap the benefits for as long as is opportune (the court ruled that there is no applicable statute of limitations).
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Darryl VernonThis premium content is locked for New York Real Estate Law Reporter subscribers only
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