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Second Department Rules That Cooperative Apartment Owners' Rights Are Precarious Image

Second Department Rules That Cooperative Apartment Owners' Rights Are Precarious

Paul Golden

On June 14, 2023, the Second Department decided Walsh v Ocwen Loan Servicing. The court, with little fanfare, appeared to rule that cooperative apartment owners are saddled with an unavoidable risk of loss. That is, if a lender alleges that the owners have defaulted, and then conducts a nonjudicial foreclosure sale, the former owners are left with few remedies.

Columns & Departments

Co-ops and Condominiums Image

Co-ops and Condominiums

New York Real Estate Law Reporter Staff

Co-Op Purchaser Not Entitled to Cancel Contract Stipulation of Settlement Did Not Foreclose Warranty of Habitability Claim Questions of Fact About Mitchell-Lama Succession Rights

Columns & Departments

Eminent Domain Law Image

Eminent Domain Law

New York Real Estate Law Reporter Staff

Taking Was for a Public Purpose and Failure to Comply With Public Hearing Requirement Did Not Invalidate Taking

Columns & Departments

Development Image

Development

New York Real Estate Law Reporter Staff

Fact Questions About Expansion of Nonconforming Use Subdivision Improperly Classified As Type II Action Under SEQRA ZBA Entitled to Approve Permit for Building Larger Than One Depicted In Approved Site Plan

Columns & Departments

Landlord & Tenant Law Image

Landlord & Tenant Law

New York Real Estate Law Reporter Staff

Tenant's Early Termination Entitled Landlord to Rent Questions of Fact About Landlord's Intention to Convey Leasehold to Individual

Columns & Departments

Real Property Law Image

Real Property Law

New York Real Estate Law Reporter Staff

Quiet Title Action Subject to Statute of Limitations Foreclosure Sale Purchasers Not Subject to Claim By Former Owners Specific Performance Denied Because Buyer Did Not Establish That It Was Ready to Close

Features

It's a Tenant's Market: How to Negotiate and Navigate the Leasing Process Image

It's a Tenant's Market: How to Negotiate and Navigate the Leasing Process

Sandra D. Buchko

A hybrid workforce has meant that office and retail space is in plentiful supply. These high vacancy rates have caused landlord defaults to be on the rise, making it a tenant-friendly environment for leasing space and obtaining tenant-favorable lease terms. Here is a step-by-step tutorial on how to negotiate the best lease terms and navigate the leasing process while saving money on rent, tenant buildout and operating expenses.

Features

Notice of Pendency In Commercial Real Estate Transactions Image

Notice of Pendency In Commercial Real Estate Transactions

Adrienne B. Koch

Parties to real estate transactions may be tempted to conclude that a notice of pendency will be available in most instances to protect their rights if things go awry. But while the CPLR's description of actions in which a notice of pendency is permitted sounds both clear-cut and extremely broad, in practice it is neither of those things.

Features

Holding Water: Water Terms Used Within the Commercial Property Policy Image

Holding Water: Water Terms Used Within the Commercial Property Policy

Christine G. Barlow

Water issues are often confusing and involve multiple undefined terms such as plumbing, sewer, drain, overflow, or discharge. This article reviews how the terms are applied in the commercial property policy.

Features

Issues and Ramifications of Leasing to Cannabis Providers Image

Issues and Ramifications of Leasing to Cannabis Providers

Brian Peykar

The legalization of cannabis in New Jersey has created tremendous economic opportunities for commercial and industrial property owners. Aside from the potential financial benefits, property owners should approach this newer market in a cautious manner before embarking on leasing to cannabis retailers and/or growers given the multitude of issues and concerns surrounding the cannabis industry.

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