Law.com Subscribers SAVE 30%
Call 855-808-4530 or email [email protected] to receive your discount on a new subscription.
Apportioning Expenses and Benefits Upon Partition
When real property is held by two or more owners as tenants in common, joint tenants, or tenants by the entirety, termination of the cotenancy all too frequently generates litigation about the terms of the termination. Often, the issue is whether the jointly owned property should be partitioned in kind or by sale, but even when the parties agree to sell the property, the same animosity that led to the need for termination generates conflict about how the sale proceeds should be divided. In one recent case, Brady v. Varrone, NYLJ 8/24/09, p. 29., col. 2, the Second Department faced a recurring issue: In a partition action, how much credit should a co-tenant make for expenditures incurred in connection with the jointly owned property?
Brady applies the general rule that a co-tenant who pays more than her proportionate share of expenses attributable to the jointly owned property is entitled to a credit against the sale proceeds payable to other cotenants. In Brady itself, a tenant in common with a one-third share of the property had made one-half of the mortgage payments. The court concluded that the referee had correctly allowed a credit for excess mortgage payments.
This premium content is locked for Entertainment Law & Finance subscribers only
ENJOY UNLIMITED ACCESS TO THE SINGLE SOURCE OF OBJECTIVE LEGAL ANALYSIS, PRACTICAL INSIGHTS, AND NEWS IN ENTERTAINMENT LAW.
- Stay current on the latest information, rulings, regulations, and trends
- Includes practical, must-have information on copyrights, royalties, AI, and more
- Tap into expert guidance from top entertainment lawyers and experts
Already a have an account? Sign In Now Log In Now
For enterprise-wide or corporate acess, please contact Customer Service at [email protected] or 877-256-2473
New York's Latest Cybersecurity Commitment
On Aug. 9, 2023, Gov. Kathy Hochul introduced New York's inaugural comprehensive cybersecurity strategy. In sum, the plan aims to update government networks, bolster county-level digital defenses, and regulate critical infrastructure.
Law Firms are Reducing Redundant Real Estate by Bringing Support Services Back to the Office
A trend analysis of the benefits and challenges of bringing back administrative, word processing and billing services to law offices.
Bit Parts
Summary Judgment Denied Defendant in Declaratory Action by Producer of To Kill a Mockingbird Broadway Play Seeking Amateur Theatrical Rights
How AI Has Affected PR
When we consider how the use of AI affects legal PR and communications, we have to look at it as an industrywide global phenomenon. A recent online conference provided an overview of the latest AI trends in public relations, and specifically, the impact of AI on communications. Here are some of the key points and takeaways from several of the speakers, who provided current best practices, tips, concerns and case studies.