Call 855-808-4530 or email [email protected] to receive your discount on a new subscription.
New York Land Development Corp. v. Bennett |
NJCB Spec-1, LLC v. Budnik |
A right of reacquisition — but not a possibility of reverter — was rendered void under the common law upon any attempt to assign it, until the legislature enacted EPTL §6-5.1 in 1966, classifying all future interests as descendible, devisable and alienable. In 265 A.D.2d 286, the court held that the grantor's right to reacquisition became void upon its conveyance to a third party in 1893, which concurrently extinguished the restrictions on the grantee's property. By comparison, in 8 A.D.2d 405, the Fourth Department held that the grantors' interest in a possibility of reverter in a strip of land was fully alienable. The court cited modern texts on real property law and decisions from other states. In general, the use of durational language in a conveyance signals that the transferor has retained a possibility of reverter which automatically terminates the transferee's interest upon the occurrence of the specified limitation. In 149 N.Y.S.2d 887, the court held that the grantor retained a possibility of reverter in his land, as the deed stated that the property interest will be held by the grantee “so long as it shall be necessary for school purposes.” In holding that grantor retained a possibility of reverter, the court emphasized that the language limited the duration during which the grantee would retain the estate and designated the time the estate would revert to the grantor. Similarly, in 28 N.Y.S.2d 262, the Second Department held that the grantors held a possibility of reverter in a deed containing the language “so long as the Railroad Company shall continue to use the said land for its said railroad,” as the words “so long as” created an appropriate durational term to construe a possibility of reverter. Furthermore, the deed did not contain any condition or express provision for re-entry. By contrast, when a grant contains language of condition, courts have held that the grantor has retained a right of reacquisition, which entitles the grantor to enter and terminate the grantee's estate upon failure to perform the condition. In 16 A.D.2d 82, the court held that despite the deed containing the durational word “whenever,” the deed's dominant conditional language showed the grantor's intent to create a condition subsequent, and thus to retain a right of reacquisition. The court stated that the deed contained the “effective formulae” to create a condition subsequent, as it required the land to be “subject to the following conditions and reservations” of being used for school and meeting purposes. |
Carpenter v. Crespo |
JPMorgan Chase Bank, N.A. v. Cao
ENJOY UNLIMITED ACCESS TO THE SINGLE SOURCE OF OBJECTIVE LEGAL ANALYSIS, PRACTICAL INSIGHTS, AND NEWS IN ENTERTAINMENT LAW.
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
In a profession where confidentiality is paramount, failing to address AI security concerns could have disastrous consequences. It is vital that law firms and those in related industries ask the right questions about AI security to protect their clients and their reputation.
During the COVID-19 pandemic, some tenants were able to negotiate termination agreements with their landlords. But even though a landlord may agree to terminate a lease to regain control of a defaulting tenant's space without costly and lengthy litigation, typically a defaulting tenant that otherwise has no contractual right to terminate its lease will be in a much weaker bargaining position with respect to the conditions for termination.
The International Trade Commission is empowered to block the importation into the United States of products that infringe U.S. intellectual property rights, In the past, the ITC generally instituted investigations without questioning the importation allegations in the complaint, however in several recent cases, the ITC declined to institute an investigation as to certain proposed respondents due to inadequate pleading of importation.
Practical strategies to explore doing business with friends and social contacts in a way that respects relationships and maximizes opportunities.
As the relationship between in-house and outside counsel continues to evolve, lawyers must continue to foster a client-first mindset, offer business-focused solutions, and embrace technology that helps deliver work faster and more efficiently.