Inventory for all property types declined in almost all areas, except for Rockland’s condo and co-op markets, the latter with an 84.6% gain. The Bronx led the region for new listings, with a 31.9% increase.
PrimeSource, which is a leading manufacturer of proprietary brands and a distributor of premier third-party brands, will utilize the location to service New York, New Jersey, Connecticut and Pennsylvania.
Unfortunately, many small businesses, including most real estate brokerage firms, and real estate investment and holding companies, will not meet these criteria and will therefore be required to comply fully with the CTA’s filing requirements.
It is important for brokers and agents to note that where a similar form has been made available by both HGAR and NYSAR, those forms do contain varying provisions. Every broker must carefully review each form, and ultimately determine which they would like to utilize.
The TOD deed is non-testamentary, which means that the interest in the real property transfers automatically to the designated beneficiary named in the TOD deed by operation of law and no probate or administration proceeding is required.
According to the FBI’s 2023 Internet Crime Complaint Center Report, there were more than 101,068 complaints filed by individuals over 60 years old resulting in more than $3.4 billion in losses in 2023.
It is important for an attorney to inform the seller the Property Condition Disclosure Statement does not require a seller to make any independent investigations relating to the subject matter contained in each of the questions contained therein.
It is important to note that while the new Good Cause Eviction Law went into effect in New York City immediately, other municipalities throughout New York State will need to opt-in by enacting this legislation if they so choose.
The most common entities that run the risk of losing the limited liability protection are small, closely held corporations and LLCs made up of family members or a small number of shareholders and members.
Any attempt by a homeowner or landlord to remove a “squatter” (and a tenant or holdover tenant) utilizing “self-help” would be deemed an unlawful eviction [and the owner or landlord would be subject to criminal liability.
Local Law 31 also includes a five-year testing requirement, meaning that all residential building owners in NYC must have all dwelling units inspected for lead paint by Aug. 9, 2025.
Recently, the decision in Stromberg v East River Housing Corp. brings to light some of the issues that exist with regard to the co-op approval process and the restrictions that burden purchasers and sellers in co-op transactions.
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