LEGAL CORNER: NYC Passes the FARE Act and Restricts the Payment of Commissions by Tenants
The real estate industry has expressed concerns regarding the potential repercussions of the FARE Act.
Tracy Forrest, Deputy General Counsel in charge of Business Development at Statewide Abstract Corp., recently accepted an appointment to serve on the New York City Bar Real Property Law Committee for a three-year term beginning August 1.
As a Class of 2025 committee member, Forrest will be involved in drafting reports, commenting, and testifying on legislation, submitting briefs, sponsoring continuing legal education and other programs, and participating in public service projects.
A real estate litigator for more than 30 years, Forrest specializes in residential and commercial landlord/tenant matters. He spent the first 13 years of his career in private practice including a large landlord/tenant firm in New York City. He then joined the New York City Housing Authority where he moved up the ranks over 20 years. For the last six years, he was Division Chief of the Landlord/Tenant Division with 20 lawyers and support staff. At NYCHA, Forrest was responsible for creating and presenting seminars where he lectured on housing court procedures to New York City judges and approximately 750 property managers and their staff.
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