CURRENT DEVELOPMENTS
Revised New York City Transfer Tax Return
NYC Department of Finance announces a revised procedure for submitting applications for new condominiums and for the related issuance of tax lot numbers
NYS Court of Appeals holds that a renewal judgment is effective when granted and is not to be enforced as of the original expiration date of the lien of the judgment
Lessees, debtors in Bankruptcy, were required to remove mechanics' liens filed post-petition and before the leases were rejected, or to indemnify the property owners
Placement of cell towers on the roof of a condominium building enjoined and the lease with the cell tower company held void
Unregulated leases expired before an offering plan for the conversion of the building to condominium ownership was accepted for filing are not entitled to Martin Act protection
Condominium floor plans to be filed with the New York City Surveyor's office on 8 1/2 inch X 11 inch sized paper
Lis pendens in an action alleging that title was held in constructive trust canceled on filing of an undertaking for the maximum amount the plaintiff could recover at trial
Easement recited in a contract of sale as to be granted but which was not contained in the deed executed pursuant to the contract enforced against the adjoining property of the grantor
Fee increases for the RP-5271, the RP-5217NYC and NYC's Real Property Transfer Tax Return effective June 1
IRS announces an expedited process to obtain the subordination or the discharge of a federal tax lien
Purchaser at foreclosure to proceed to close notwithstanding damage to the property caused by the owner subsequent to the foreclosure sale
A purchase money mortgage made by a third-party lender enforced notwithstanding the claim that the former property owner was the victim of a "mortgage rescue" scam
Mortgage assignment executed after the commencement of a foreclosure, reciting that the assignment was effective retroactively, held not sufficient to establish the assignee's standing to foreclose
Assignment by MERS to the foreclosing lender, reciting that it was executed by an attorney on behalf of MERS pursuant to a corporate resolution, held not sufficient to establish standing
Assignee held to be the holder of a note and mortgage by reason of the endorsement to it of the note
Court orders a copy of a lost unrecorded mortgage to be recorded, but not recorded nunc pro tunc
Mortgage to, and being submitted for recording by, an exempt entity is not subject to mortgage recording tax
New York State Department of Taxation and Finance publishes interest rates on the late payment of State Transfer Tax and Mortgage Recording Tax for the period April 7, 2009 - June 30, 2009
Digital tax maps are available for New York City through ACRIS
NYC announces a program requiring architects and engineers to upload applications for new buildings and major enlargements of buildings to the Department of Buildings' website
Registration Statements to be filed in NYC for one-and-two family dwellings not occupied by the owner or his or her family member
Title held to revert to the NYC Economic Development Corporation notwithstanding that violations filed by NYC delayed completion of the building's rehabilitation as required
Revised forms IT-2663 and IT-2664 for 2009
A dissolved corporation in title as nominee and which is otherwise inactive is not subject to New York State franchise tax
A pending action for the partition of a joint tenancy does not survive the death of one of the joint tenants
Revised New York Statutory Short Form Power of Attorney and New Statutory Major Gifts Rider
New real estate tax rates adopted in NYC for the period January 1, 2009 - June 30, 2009
Appellate Division, First Department, affirms holding that NYC Local Law 79 of 2005, providing a right of first refusal and first opportunity to purchase assisted rental housing struck, is preempted by state and federal law
NYS Court of Appeals upholds "attorney approval contingency clause"
Claim for malpractice a legally cognizable cause of action when contract of sale required seller to deliver at closing "copies of all existing certificates of occupancy for the premises"
Appellate Division, First Department, affirms holding that corporate Seller is bound by acts of its Director/Corporate Secretary
Defaulting bidder in a tax lien foreclosure loses down payment when sale results in a surplus over the foreclosure judgment
General Contractor held a Trustee of a Lien Law Trust
Exemption for "Special Additional" component of the mortgage recording tax extended to NYS chartered credit unions which result from the conversion of federal credit unions on and after January 1, 2009
New York State Department of Taxation and Finance publishes interest rates on State Transfer Tax and Mortgage Recording Tax for the period January 1, 2009 - March 31, 2009
Transfer of real property to a Church organized under NYS's Religious Corporation Law ruled exempt from NYC's Real Property Transfer Tax
Transfer of two uncombined units ruled subject to NYC's Real Property Transfer Tax "residential rates" when the buyer's intent was to combined the units before the transfer from the Sponsor
Exchange of voting stock for non-voting stock as part of a corporate merger ruled not eligible for a "mere change" exemption from NYS Transfer Tax
Notice of pendency filed by a contract vendee is ineffective when the vendee did not record its contract to purchase or a memo of the contract
TIRSA New York Standard Endorsement (Loan), TIRSA Variable Rate Endorsements, and TIRSA Fannie Mae Balloon Mortgage Endorsement revised effective December 1, 2008
Joseph S. Petrillo named to the Board of Directors of First American Title Insurance Company of New York
"Financial Strength", First American Title Insurance Company
Environmental Conservation Law amended to require notice to tenants of indoor air contamination
FIRPTA non-foreign affidavit may be furnished to a "Qualified Substitute"
Order granting default judgment in mortgage foreclosure vacated as borrowers were negotiating a modification of the loan
Revised Form M-15 ("Mortgage Recording Tax Return") effective October 1, 2008
- NYS issues Annual Statistical Report of 2007-2008 Tax Collections
NYS issues "Changes in Procedures for Obtaining Guidance from the Tax Department"
Recording charges increase in numerous counties
TIRSA Standard Endorsements amended and a new TIRSA Co-insurance Endorsement is approved
Application forms issued for the "first-time homebuyer exemption from the Peconic Bay Region Transfer Tax applicable in the Towns of Southampton, East Hampton and Shelter Island.
Adverse possession legislation enacted effective July 7, 2008
Encroachments did not meet requirements for adverse possession
Legislation for broker's affidavit of entitlement effective January 1, 2009
Common law fraud and breach of contract claims are not preempted by the Martin Act
Rights of an owner of property abutting a navigable waterway may not be impaired
Legislation governing the foreclosure of subprime home loans, low-cost home loans and non-traditional home loans enacted
Three day rescission period under the Truth-in-Lending Act may be extended only when required disclosures are not provided
NYC Register will not record a deed to the fee of air space without a prior tax lot subdivision
NYC Surveyor fees increased
Notice of pendency can only be extended by a motion made prior to its expiration date
NYS Superintendent of Banks issues a letter captioned "Statutory Prohibitions Against 'Tying' Title Insurance to Mortgage Financing"
NYS Transfer Tax is due on the reconstitution of a Limited Profit Housing Company into a business corporation on the filing of an amendment to its certificate of incorporation
Peconic Bay Region (a part of Suffolk County) Transfer Tax is amended to allow for additional exemptions
Reduced transfer tax rates for REITS extended
Town of Northeast in Dutchess County is authorized to enact a Local Law imposing a transfer tax
Transfer out of bankruptcy must be made pursuant to a confirmed plan to be exempt from stamp tax
Sufficient time to perform must be afforded when time is made of the essence
For a cooperative to impose a flip tax there must be adherence to formal corporate requirements
Money damages would adequately compensate plaintiff for an encroachment of the building on the adjoining premises
Borrower is responsible for payment obligations when the loan is not a "high cost" mortgage loan
When a loan to a homeowner in a minority area has an interest rate in excess of 9 percent, the Lender must establish the loan was not discriminatory
New York State Department of Taxation and Finance publishes interest rates on State Transfer Tax and Mortgage Recording Tax for the period July 1, 2008 - September 30, 2008
NYC Department of Finance posts Statements of Audit Procedure
NYC Register's new policy for the return of recorded documents to undergo further review
NYS Department of Taxation and Finance issues Publication 576, "Transfer or Acquisition of a Controlling Interest in an Entity with an Interest in Real Property"
NYS Department of Taxation and Finance issues an Advisory Opinion on Islamic Financing
Notary must administer an oath before acknowledging a signature
Deed made by homeowners to a predatory lender voided
UCC Financing Statements can be filed in Westchester County over the Internet
Adverse possession requires a claim of right and an absence of permissive use
Her Counsel having accepted a replacement check, the Seller waived her right to cancel the contract of sale
Corporate Seller bound by acts of its Director/Corporate Secretary
Judgment reinstated nunc pro tunc not prior to intervening, recorded mortgages
Four month filing period for a mechanic's lien applies to work done on two combined cooperative apartments
Leave of court to sue on note is not required when the action to foreclose the mortgage securing the note was dismissed
Tenants must be named party-defendants and be served to be evicted as the result of a mortgage foreclosure
Mortgagee has a duty to investigate whether the mortgagor committed a fraud against the prior property owner under a so-called "mortgage rescue scheme"
New York State Department of Taxation and Finance publishes interest rates on State Transfer Tax and Mortgage Recording Tax for the period April 1, 2008 - June 30, 2008
Mortgage made by a Local Development Corporation is exempt from mortgage recording tax
NYC Register announces a new policy for the return of recorded documents
Heirs of a partner do not become partners absent a provision in the partnership agreement
A contract of sale did not have the protection of the Recording Act as signatures on the contract were not properly acknowledged
Process server should have ascertained the correct address for a judgment creditor from the records of the Court in which the judgment was entered
Tax lien sale not stayed to enable a closing to take place to enable paying off the lien
Successful bidder in a tax lien foreclosure held responsible to pay real estate taxes and also interest on the purchase price accruing between the date of the auction sale and the delivery of the deed
Westchester County Clerk announces its changed procedure for recording pursuant to a power of attorney
The mere presence of a fence does not establish a "substantial inclosure" under RPAPL Section 522 in a claim of adverse possession
Husband's filing of a bankruptcy petition did not stay his obligation to may mortgage payments under a court order entered in a suit for divorce and spousal maintenance
The decision of the Board of Managers of a condominium to install a cell phone antenna and related equipment in the common elements is protected by the "business judgment rule"; a condominium unit owner does not have standing to sue individually for injury to the common elements
Contract obligation to delivery the premises "vacant and clean at closing" does not survive the delivery of title
A merged easement is not re-established by reference to the easement in a deed to the dominant estate
Taking upheld notwithstanding claim that the public uses advanced for the project were pretexts for a private taking
Real estate taxes were not properly assessed on part of consular property used as a restaurant for a consular purpose
Foreclosure complaint dismissed when satisfaction of the mortgage had been recorded
Violating New York's predatory lending statute may result in voiding of the mortgage, the return of all payments, and borrower's expense in obtaining the loan and attorneys' fees
NYC's Department of Housing Preservation and Development to identify "distressed buildings" for the "Alternative Enforcement Program"
Possible increase in fees to file Forms RP-5217, RP-5217NYC and, when a RP-5217NYC is not required, New York City's Real Property Transfer Tax Return
Absent negligence, there is no liability for interference with access to private property during a public construction project
Architect of building under construction is liable for damage to adjoining properties
State regulations amended to provide that withdrawal from the Mitchell-Lama housing program is not a "unique and peculiar circumstance" enabling a rent adjustment
Contract vendee held to be in breach notwithstanding NYC's demolition of the second story of the building on the property being conveyed pursuant to unsafe building proceedings
Ethics opinion issue on an attorney's participation in a closing with a seller's concession and a grossed-up sales price
Purchaser at a judicial sale expressly "subject to" liens does not have standing to contest the validity of those liens
State Supreme Court Judge, in Kings County, sets forth the procedures to be followed in a foreclosure before him when an auction sale is scheduled more than one year after entry of the judgment of foreclosure and sale
New York State Department of Taxation and Finance publishes interest rates on State Transfer Tax and Mortgage Recording Tax for the period January 1, 2008 - March 31, 2008
"HECM" reverse mortgages are exempt from the mortgage recording tax
ACRIS Version 4.0 implemented in NYC effective December 3, 2007
A notice of pendency is properly filed for an action alleging that real property is a partnership asset
An open space restriction on a final plat filed in the Office of a County clerk is enforceable against a subsequent purchaser
The Westchester County Clerk requires separate checks for each of mortgage recording tax, transfer tax and recording fees
Exchange of emails agreeing to sell real property does not comply with the Statute of Frauds
Motion for Order of Reference in mortgage foreclosure denied for non-compliance with Home Equity Theft Protection Act
Second Circuit affirms holding of USDC for the SDNY that the Village of Mamaroneck violated the Religious Land Use and Institutionalized Person Act of 2000
Mortgagee lacks standing to foreclose if it did not hold the note and mortgage when the action was commenced
Dutchess County institutes a local mortgage recording tax effective November 1, 2007
Revised Form MT-15 effective November 1, 2007
Version 4.0 of NYC Department of Finance's ACRIS is effective December 3, 2007
NYC Department of Finance instituting a "Document Review Process for New Condominiums and Amendments"
NYC Department of Environmental Protection is implementing a "Payment Incentive Program"
New mailing address to submit the New York State Real Estate Transfer Tax
Title insurer's "duty to defend includes the duty to appeal where there are reasonable grounds to do so"
Transfer Tax to take effect in the Town of Fishkill
Developer can expand zoning lot in NYC without further consent of transferor under Zoning Lot and Development Agreement
Land taken by a municipality by a tax deed is subject to a claim of adverse possession
A grantee's actual knowledge of an easement prior to the conveyance is not a defense in an action to enforce a deed warranty
Notice provision of the Home Equity Theft Protection Act limited to foreclosures of owner-occupied one-to-four family dwellings
Home inspection contract can limit liability to the amount of the fee paid, but an action may be brought for a deceptive practice under General Business Law, Section 349
Judgment renewed nunc pro tunc held to have priority over a mortgage recorded after the judgment had expired. (Reversed by NYS Court of Appeals. See Bulletin issued May 27, 2009)
Effective July 20, 2007 the Village of Mamaroneck requires a Discharge Compliance Certificate
Tax sale bidder not required to take title subject to a right of reverter
In hearing an action to foreclose a mechanic's lien not exceeding than $25,000, the NYC Civil Court has jurisdiction to hear a motion to discharge the lien for its not being timely filed
A judgment of foreclosure was vacated since the mortgage did not inform the Court about a forbearance agreement it entered into with the borrower and the amount due was not recalculated to reflect payments made under the agreement
Foreclosure sale vacated since the Satisfaction of a prior mortgage was a forgery
A mortgage recorded by a local development corporation formed under Section 1411 of the Not-for-Profit Corporation Law is exempt from mortgage recording tax
New York State Department of Taxation and Finance publishes interest rates on State Transfer Tax and Mortgage Recording Tax for the period October 1, 2007 - December 31, 2007
An Article 78 proceeding is not required to determine the enforceability of emergency repair liens filed by the City of New York
The deadline for filing NYC Real Property Income and Expense Statements has been extended to September 28, 2007
A cause of action for breach of contract brought because of alleged material defects was properly dismissed since the property was sold "as is", but a claim of fraudulent concealment may proceed
In New York City, a not for profit corporation's a real estate tax exemption can commence on the date on which it took title
A restriction that a property would not be used as a bakery for 50 years is enforced
Court of Appeals holds that landlords must continue to accept Section 8 rent subsidies and may not opt out of the Section 8 rent subsidy program
The "Hudson Valley Community Preservation Act", authorizing Towns and Cities within the Counties of Putnam and Westchester to establish Community Preservation Funds and imposed transfer taxes, is effective January 1, 2008
New notice requirements for mortgage foreclosures on residential property effective August 1, 2007
Ruling returning down-payment when the condominium's Board of Managers required the payment of two years of common charges in advance to waive its right of first refusal affirmed on appeal
Change in zoning between contract and closing did not impact marketability
Taking to benefit private parties overturned
Publication not made within the statutory period is not curable by an Order nunc pro tunc
Judgment creditor is not entitled to surplus monies when the judgment was docketed in a different county
- Ruling that Court has jurisdiction to determine the validity of liens for unpaid real estate taxes against property owned by foreign missions affirmed on appeal
Requirement that tenant could not assign without landlord's consent not violated by transfer of ownership of corporate parent
Mechanic's liens on condominium units no longer owned by the Sponsor could be amended
MERS held to have standing to foreclose a mortgage
Plaintiffs in mortgage foreclosures did not have standing to foreclose as the notes and mortgages were assigned
Standing to foreclose held to be a waivable defense
Property re-auctioned as bidder presented an uncertified, "starter" check
2007-2008 rates for real estate taxes in NYC announced
Owner of adjoining property is liable for injury caused by a defective sidewalk
Rockland County will require pre-addressed, stamped envelopes to return recorded documents
NYC Local Law 79 of 2005, provides a right of first refusal and first opportunity to purchase assisted rental housing struck down
Oneida Indian land claim dismissed on grounds of laches
Westchester County Clerk to accept mortgage consolidation agreements signed only by MERS as nominee
Foreclosure sale overturned because non-mortgagor tenant by the entirety was not named a party defendant or served
Transfer exempt from State Transfer Tax since there was no change in the benefits and burdens of ownership
Transfers constituting a financing exempt from State Transfer Tax
Lease of land in a shopping center on which a new building is to be constructed exempt from State Transfer Tax
Transfer under court order by a Religious Corporation not subject to attack for lack of due authorization
Proceeds from sale by tenants by the entirety are held as tenants in common
Transfer Tax in the Town of Red Hook effective August 1, 2007
Private Well-Water Testing Law in Westchester County effective November 19, 2007
Appurtenance Clause in deed did not transfer Seller's rights to parking spaces on adjoining property
Overuse of an easement can be enjoined, but it is not grounds to terminate an easement by grant
Mortgage loan not in default when non-payment was due to a technical problem in the electronic payment program administered by or on behalf of the lender
Survivor of an unmarried couple who took title as tenants by the entirety held vested with full title
Mortgagee equitably subrogated to the lien priority of the mortgage satisfied by proceeds its advanced
Revocable license in a lease to adjoining vault space was not revocable until the lease terminated
Mechanic's liens filed against condominium units after recording of deeds from the Developer discharged
Mechanic's lien for work in a cooperative apartment on two floors had to be filed within four months of the date on which the last work was performed
Foreclosure sale upheld when temporary restraining order was not served on the bidders at the foreclosure sale
New York State Department of Taxation and Finance publishes interest rates on State Transfer Tax and Mortgage Recording Tax for the period April 1, 2007-June 30, 2007
Requirement in a mortgage, which allowed prepayment without penalty, that borrow reimburse lender's closing costs if the credit line was terminated within the first 36 months held to be a prepayment penalty and a deceptive business practice
Transfer of real property from a limited profit housing company formed under the Private Housing Finance Law to a cooperative corporation formed under the Business Corporation Law is not exempt from the State Transfer Tax
New certification requirements to enable obtaining a receipted Combined Real Estate Transfer Tax Returns (TP-584 and TP-584-REIT) when the State Transfer Taxes are being prepaid
Conveyance of real property to a subsidiary of the State's UDC, coupled with a leaseback and the repurchase by the lessee of fee title is a financing not subject to the State Transfer Tax
To establish priority over a notice of pendency, a deed is deemed recorded when delivered to the recording officer, even if the deed is recorded and indexed after the lis pendens is filed
Land use restrictions in deed from the City of New York bind successor owners
Appointment of a RPAPL Article 7-A Administrator is not an encumbrance on title and does not affect marketability
Return issued for Town of Warwick's Community Preservation Fund Real Estate Transfer Tax
Removal of debris from a tree onto the adjoining land where the tree had stood was a trespass
Declaration restricting the use of property based on the identity of the owner is not valid
2006 ALTA Policies approved in New York effective May 1
Home Equity Theft Prevention Act effective February 1, 2007
Limited Profit Housing Company formed under Mitchell-Lama held unable to dissolve due to a covenant in the deed to it from NYC requiring residential use for 50 years
Automatic stay lifted due to the Debtor's failure to pay more than $50,000 of post-petition mortgage payments over an eleven month period
Down-payment ordered returned to the contract vendee when the condominium's Board of Managers required the payment of two years of common charges in advance to waive its right of first refusal
Confession of judgment signed by a husband in favor of his mother when the husband was filing for divorce vacated to enable the sale of the marital residence
Disclosure of uncapped natural gas wells required in contracts of sale effective January 1, 2007
Contract down payment ordered returned to the purchaser who sought specific performance when the seller made repairs to fire-damaged property to prevent the building to be demolished
Monetary damages held sufficient to compensate an owner of a landlocked parcel claiming an easement by necessity as the plaintiff's parcel is not a buildable lot under NYC's Administrative Code
Shinnecock Indian Nation's lawsuit to recover property in Suffolk County dismissed
Lien Law amended to provide that an owner of land is not a necessary party to enforce a mechanics lien when the contractor or subcontractor executes a bond or undertaking
Assignee of a mortgage has a duty to search the public record to determine if there are unpaid real estate taxes
Recording officers are required to record and index mortgages, assignments of mortgages and discharges of mortgages naming MERS as the mortgagee or as a mortgagee's nominee
Form MT-15 ("Mortgage Recording Tax") revised
Leasehold mortgages on the World Trade Center site are exempt from mortgage recording tax as the Port Authority as mortgage will be presenting the mortgages for recording
New York State Department of Taxation and Finance publishes interest rates on State Transfer Tax and Mortgage Recording Tax for the first quarter of 2007
As between two buyers contracting for the same property priority is given to the buyer whose deed or contract is first recorded, even if a list pendens is filed by the other buyer before recording of the deed or contract
Information on the payment status of Suffolk County real estate taxes will not be available on January 3, 4 and 5, 2007
Transfer tax payable by the Grantee to take effect in the Town of Warwick, Orange County, on April 1, 2007
A condominium unit owner may bring an action with respect to the common elements of a condominium on behalf of two or more unit owners but a unit owner does not have standing to sue individually for damages to the common elements
A corporation dissolved for the non-payment of franchise taxes retains title to its real property
Installation of modular workstations is not an "improvement" within the meaning of the Lien Law for which a mechanics lien may be filed
NYC's commercial transfer tax rates not applied to the transfer of multiple units between the same parties on the facts, but the commercial rates may apply
State Transfer Tax properly applied to the transfer of controlling interests in an entity owning the stock of Delaware corporations which owned a Delaware limited liability company owning a hotel in Manhattan
A mapped street running through a parcel may result in a taking if there is proof of the diminution of property's value
In selling a tax lien the government must investigate who is the holder of a mortgage which was made to a dissolved institutional mortgagee to allow service by publication
Sales by a partnership to purchasers related to a partner without disclosure of the relationship held to be void
The Tax Injunction Act does not preclude federal courts from determining whether notices of foreclosure satisfy due process
Seller must produce marketable title to hold a purchaser in default
Court of Appeals affirms that District Court has jurisdiction to determine the validity of liens for unpaid real estate taxes against property owned by foreign missions
"Home Equity Theft Prevention Act" enacted
To foreclose a mechanics lien against the fee owner for work done by a tenant the landlord must have consented to the improvement
Notwithstanding denied mortgage application was in excess of the acquisition loan the vendee was entitled to return of down-payment
MERS as nominee cannot assign a mortgage and a note
New York State Department of Taxation and Finance publishes interest rates on State Transfer Tax and Mortgage Recording Tax for the fourth quarter of 2006
NYC Real Property Income and Expense Statements may be filed electronically, and sales prices for cooperative units in NYC can be found on ACRIS
"Absentee Landlord" surcharge in NYC reduced to zero percent of net real property taxes for fiscal years beginning on and after July 1, 2006
Documents in Bronx, Kings, New York and Queens County can be submitted for recording in the Register's office in any of those counties
A claim of unjust enrichment cannot be maintained for breach of a restrictive covenant
Proof of criminal intent is required to establish criminal usury
Wholesale exclusion of educational uses from commercial districts is unconstitutional
First American announces UCC Policies for Cooperative Units
UCC filing issues for cooperative units in the NYC Register's Office
Court of Appeals holds that "an adverse possessor's actual knowledge of the true owner is not fatal to an adverse possession claim"
First American - New York renewed as an accredited provider of continuing legal education
Contract vendee can enforce oral representation of Seller-Trust's Settlor
Power to condemn properly can be delegated to private co-licensee of power plant
Bankruptcy
of General Contractor does not extend subcontractor's mechanics lien
Mortgage
not required to be assigned when property owners is refinancing
Judge
of Supreme Court, Bronx County, issues guidelines for payment of
referee's fees in mortgage foreclosures
State-chartered
credit union formed under Article XI of the Banking Law is not an exempt
organization for application of the portion of the mortgage recording
tax known as the special additional tax
New York State
Department of Taxation and Finance published interest rates on the late
payment of real estate transfer taxes and mortgage recording taxes for
the third quarter of calendar year 2006
NYC
Department of Environmental Protection issues procedures to obtain water
meter readings effective July 1
City
of Peekskill, in Westchester County, requires an updated certificate of
occupancy before closing
Prepayment
penalty not enforced in a mortgage foreclosure as it was not
expressly applicable in a foreclosure
Res
Judicata a defense to a claim of "active concealment" when
prior action under Property Condition Disclosure Act was dismissed
Purchaser
not bound by restrictions on the use of property set forth in documents
filed in the Town's offices but not recorded in the real estate records
Private
Well Testing Law in Rockland County
US
Supreme Court holds that "when mailed notice of a tax sale is
returned unclaimed, the State must take additional reasonable steps to
attempt to provide notice to the property owner before selling his
property"
Residential
transfer tax rate applied to Class 1 real property in NYC
notwithstanding commercial use of 10% of the building
Mansion
Tax applied to transfer of vacant land from developer when grantee
obtained construction financing for a residence on the land
Reduced transfer tax rates for REITS extended
Title insurance rate reduction approved for First American Title Insurance Company of New York effective June 15, 2006
Publication requirements effective June 1, 2006 for domestic and foreign LLPs, LLCs, limited liability partnerships, and professional limited liability revised
In
Kings County a Referee's Deed in the foreclosure of a mortgages cannot
be delivered to the assignee of the successful bidder
- ACRIS update
- Building encroaching on easement ordered removed
- Mortgagee on constructive notice may not claim rights by equitable subrogation
- Discharge Compliance Certificate required in the unincorporated part of the Town of Mamaroneck
- Agreement to "Pay [subcontractors] When Paid" is contrary to public policy in New York
- Suffolk County Clerk is required to record a mortgage executed to MERS as nominee
- Interest rates for the late payment of mortgage recording tax and for transfer tax for first calendar quarter announced
- NYC Economic Development Corporation forms the NYC Capital Resource Corporation to offer direct loans through its Loan Enhanced Assistance Program
- Document Preparation fee charged by lender for "fill in the blank' type documents is not the unlawful practice of law
- Gramm-Leach-Bliley Act privacy regulations governing financial institutions do not apply to attorneys
- Court upholds imposition of ICIP deferred charges against certain NYC residential condominium unit owners
- TIRSA Rate Manual as to Refinance and Subordinate Mortgages revised
- TIRSA Rate Manual as to Reverse Mortgages revised
- EPA publishes final rule establishing standards to qualify for protection from liability under CERCLA
- Roof of Garage Unit can be a general common element which all Unit Owners must maintain
- Unit Owners not liable for injuries due to a defective common element
- Expenses to maintain property incurred by parent of deceased tenant by the entirety are not compensible
- Federal District Court holds that real estate taxes cannot be foreclosed against lands of Indian Tribes without federal authority
- NYS law restricts removal of survey markers
- Conveyance by father to son construed as the retention of a life estate with a vested remainder
- Cooperative unit owners do not have standing to challenge a mechanics lien filed against the cooperative corporation for work done on their unit
- Tender in a mortgage foreclosure must also include costs of the action
- NYS issues Annual Statistical Report of 2004-2005 Tax Collections
- NYC will not aggregate a mortgage with a prior, recorded mortgage which is to be satisfied on submission of an affidavit in the form annexed to this Bulletin
- NYC can sell property that is not inalienable to a LDC without public bidding
- Change in real estate tax rates in NYC for fiscal year 2005-2006 applied to second half taxes
- NYS Department of Taxation and Finance issues an Advisory Opinion on application of the State Transfer Tax to a lease of space in a shopping center
- Beams and construction materials can extend into a party wall so long as they do not extend into the adjoining owners property or damage is caused to the adjoining building
- County reasonably believed that owner was merely avoiding receipt of tax sale notice when notices by certified mail were "unclaimed", there being no response to notices by first class mail
- ACRIS E-Tax Forms required for pre-July 5 transfers submitted after July 5
- Carbon monoxide detecting devices to be required in New York City
- Forfeiture of 25% down payments under contracts for purchase of pre-construction luxury condominiums upheld
- Encroachments on street do not render title unmarketable since the building is subject to Landmark's Protection Laws and the risk of their removal is negligible
- Application of NYC $1.00 condemnation clause upheld notwithstanding that the public purpose if different
- Court cannot in a condemnation order grant condemnee an easement, sua sponte
- Homeowners' Association can file and enforce a common charge lien under the Condominium Act
- Mechanics lien timely received by a County Clerk but filed after expiration of the statutory period for filing a lien enforced as no intervening lienor would be adversely affected
- Mechanics lien for work on condominium conversion could not be enforced against Board of Managers
- First American Title Insurance Company of New York acquires Modern Abstract Corporation
- Supreme Court, New York County, issues decision in MERS litigation
- Judgment controls over Terms of Sale and purchasers cannot be required to pay real estate taxes in a mortgage foreclosure without receiving a credit
- Firm sale contract (not merely a petition to sell at an auction for a minimum price) is required to approve sale of real property by a not-for-profit corporation
- Although a sale is not approved, a contract provision for payment of purchaser's out-of-pocket expenses can be reviewed under NPCL Section 511
- Below-market sale to an entity owned by the son of a general partners approved as limited partners consented to a sale "on such terms as may be determined by the general partners" even if they may have an interest therein
- Pending Legislation: Mortgage recording tax on spreaders and mortgages as additional collateral security
- Pending Legislation: Increased fees for Equalization and Assessment Forms RP-5217 and RP-5217NYC
- Pending Legislation: Enabling successive notices of pendency to be filed in a mortgage foreclosure
- Restriction allowing construction of one single family dwelling "not more than one and one-half stories in height" is ambiguous and unenforceable
- Article: ACRIS E-Tax Forms are Changing Closings in New York City
- Break-up fee of 5.2% of purchase price held reasonable in an arms-length real estate transaction
- Easement of necessity for access from fire ladder extending into adjoining parcel
- Mortgagee commencing foreclosure collateral estopped from litigating validity of mortgage when mortgagor was determined in a criminal proceeding to have fraudulently obtained title
- Implementation of "Absentee Landlord" real estate tax surcharge in the City of New York delayed until July 1, 2006
- Filing fees for NYC Real Property Transfer Tax Return not to be collected and to be refunded for cooperative unit transfers since January 1, 2003
- Specific performance cannot be ordered against a not-for-profit corporation which had not obtained leave of court to sell all or substantially all of its assets as required under New York's Not-For-Profit Corporation Law
- Conveyance "subject to" reimposes a restrictive covenant
- Suffolk County to appropriate excess fees paid to the County Clerk for fees and taxes up to $30.00
- A notice of pendency under the Real Property Actions and Proceedings Law can be filed in a tax lien foreclosure when the lis pendens filed under the Civil Practice Law and Rules had lapsed
- Payment of tax arrears must strictly comply with instructions to be timely credited
- Stay pending outcome on appeal of an order to deliver possession of real property requires posting of a surety bond not merely an "undertaking" not to commit waste and pay for use and occupancy
- Update: Completion of transfer forms in NYC in ACRIS anticipated in April 2004
- Rights by adverse possession does not accrue while land is "open space" under GML Section 247
- Zoning does not apply to activities of commercial telephone companies on towers owned by the State. Reverses ruling of lower court
- Granting commercial unit the right to use common elements "reasonably necessary" to its use does not provide for an easement
- Fraud in inducement cannot be claimed only when the contract's merger clause states that the buyer is not relying on any representations as to the issue in question
- Charging lock-in fee and application fee must be preceded by RESPA disclosures
- Mortgage recording tax increased in Schuyler County
- RPAPL Section 2001 does not apply to affirmative easements granting a right of use to a dominant estate
- Proposed Rules for the "absentee" landlord real estate tax surcharge
- Fiduciary cannot delegate the entire responsibility to administer an estate, even to a co-fiduciary
- Property owner required to comply with Transportation Law Section 18 before leasing railroad property with an option to purchase
- Mere assertion that notice of tax foreclosure was not received does not rebut the presumption of notice arising on recording of In Rem deed
- Interest of tenants not served in a tax lien foreclosure can be cut off in a strict foreclosure, and tenants are required to pay for use and occupancy
Mortgage
not avoidable in Chapter 13 Bankruptcy unless there is no equity above the
amount of prior liens
Connecticut
raises local portion of its transfer tax
Seller must
make a good faith effort to deliver title before relying on contract provision
for refund of down payment
Assignee not
substituted for mortgagee that commenced foreclosure after assignment and action
dismissed
Cannot
be a bona fide purchaser under a forged deed
Action
converted to one for money damages against County Clerk for misindexing mortgage
assignment
Default judgment not vacated by “Decision and Order”
State Department of Taxation and Finance publication on “New York Tax Status of LLCs and LLPs”
Managing Member
of LLC a fiduciary to Member selling it its interest until Buy-Out closed
Notice of mechanics lien can be served to owner at the address on the tax bill even if it is not located at that address
Interest rates set for 2nd Quarter on State’s Transfer Tax and Mortgage Recording Tax
Holder of usurious mortgage unable to recover amount paid to redeem property from a tax sale
New York City Civil Court has jurisdiction to discharge an ancient mortgage not exceeding $25,000
New York City Council considering establishing a Registry of restrictive covenants in Building Department
New York City Council considering revision of Lead Paint law
Second notice of pendency not properly filed when lis pendens was canceled for failure to serve the summons and complaint within thirty days of filing
Restrictive covenant enforceable by other filed map lots in subdivision
Easement cannot be created to benefit land not owned by grantor of the easement
Part performance of an oral agreement to convert a building and sell a tenant its space as a condominium unit took the agreement out of the statute of frauds
Purported oral modification of a purchase option in a stipulation settling litigation violated statute of frauds
“Public record” from which names and addresses of persons are obtained to notice a tax sale does not include records of applications in Department of Planning and Community Development
UCC Fees increased effective April 1, 2003 in New York’s Department of State
- Proposed Rule for installation of Carbon Monoxide Detectors published
- Seller was required to comply with contract provision notwithstanding the events of September 11
- Default notice provision in first mortgage effective where not modified by the terms of later consolidation agreement
- Mortgage to UDC entity exempt from recording tax even if loan is funded by an otherwise non-exempt assignee of the mortgage
- Rights under party wall agreement limited to an easement for support
- No remedy other than the $500 credit to the buyer under the Property Condition Disclosure Act, and the obligation to provided a credit does not survive closing
- FASB issues Interpretation No. 46 on the "Consolidation of Variable Interest Entities"
- Bankruptcy Code Section 108(a) governs the impact of bankruptcy on statute of limitations to foreclose a mortgage
- Right to redeem from a tax sale is protected by the automatic stay in a bankruptcy
- Court determination of lien priority takes title insurance for a mortgage into account
- Fee to assign a mortgage does not violate the Truth in Lending Act or Regulation Z
- NYC Register will no longer accept termination statement for financing statements filed under the former Uniform Commercial Code against collateral other than fixtures and cooperative interests
- Changes to NYC's procedure for recording - ACRIS and RP5217NYC
- Change in form for acknowledgments and proof of execution by a subscribing witness out of state effective January 1, 2003.
- Debtor's occupancy rights as a non-purchasing tenant under a conversion could be sold by the trustee in bankruptcy
- Carbon Monoxide Detectors required to be installed on sale of a one or two family dwelling, condominium and cooperative unit
- Liquidated damages enforced on contract to sell a cooperative unit
- Due process not afforded foreclosing mortgagee when City of New York demolished building without notice
- Easement by prescription over space leased held established in favor of landlord
- State Franchise Tax not due from entity holding title as a nominee
- Court cannot extend statutory period for redemption in foreclosure
- Junior lienor cannot reach surplus money after six years from default
- Deed held in escrow for delivery of transfer tax forms did not toll period for claiming a deficiency judgment
- Mortgage to secure payment of legal fees in matrimonial action cannot be foreclosed
- Mortgage can be re-foreclosed to cut-off the rights of proprietary lessees and the lessees are liable for use and occupancy
- New York City's ACRIS recording system to take effect on January 2, 2003
- Statement of Audit Procedure on New York City's Transfer Tax issued for transfers from a nominee on completion of a syndication
- Mortgage foreclosures when the notice of pendency is not extended
- "Talkline-The Stoler Report" returns for a second season on WSNR 620 AM
- Mortgage assignee constitutionally entitled to receive notice of a tax sale
- Tax Sale providing for notice by publication only held unconstitutional
- Allocation of consideration for the state transfer tax on assignment of a lease and other assets
- New York's Department of State begins using a 15-digit file number for financing statements
"Subject
to restrictions of record" encompasses a paper street
"Business
Judgment Rule" precludes inquiry of cooperative board in terminating
a proprietary lease for objectionable conduct
Cooperative
Board lacks standing for action against sponsor for failure to dispose of
remaining shares within a reasonable time
Proceeds
of refinancing can be reached by a creditor of one of the tenants by an
entirety
Vacating
of mechanics lien for work done without consent of property owner upheld
on appeal
Deficiency
judgment can not be had against guarantees when foreclosing mortgage
assignee did not receive an assignment of the notes and guarantees
Service
of a writ of assistance by a foreclosure sale purchaser requires that the
deed be "exhibited" to the occupant
Interest
rate on refunds and underpayments of mortgage recording tax and deed
transfer tax for the fourth quarter published
Computation
of the interest rate on underpayments of mortgage recording tax and deed
transfer tax to be revised effective April 1, 2003
Advisory
Opinion on "Cost-Plus Sale financing
Equitable
mortgage imposed when signature and acknowledgment pages missing
New
Jersey Private Well Testing Act effective September 14, 2002
Deed
made pursuant to Bankruptcy Court order not exempt when the plan of
reorganization had not been drafted
State
Board of Real Property Services Form RP-5217 to be required in New York
City effective January 1, 2003
Uniform
Nonjudicial Foreclosure Act approved by the National Conference of
Commissioners on Uniform State Laws
Restrictive
Covenant against business use did not prohibit a business use of a passive
office nature
Owners
of land within a residential community could enforce a restrictive
covenant imposed as part of a plan intended to benefit of land within the
development
Whether an easement was intended to be insured by a title policy could not be determined without resort to extrinsic evidence
- "Clear and convincing" evidence required to overcome presumption of due execution of acknowledged deed
Easement foreclosed by mortgages on burdened parcel
Cause of action alleging Sponsor's failure to dispose of shares in a non-eviction conversion to cooperative ownership upheld
Widow enjoined from disposing of real property owned with her late husband since she would forfeit right of survivorship if convicted for his murder
Claim of Seneca Nation against State of New York dismissed
Lower court decision holding payment to mortgagee prior to subcontractors was a diversion of trust funds affirmed
Mechanic's lien continued by filing of a cross-claim in action brought by other lienor whose claim was dismissed
Foreclosure by Federal Government is not subject to state statute of limitations on actions to enforce money judgments or laches
Mortgage recording tax applied only to that portion of a mortgage relating to a tax exempt purpose
Mortgages executed by Battery Park City Authority are exempt from mortgage recording tax as BPCA is to record
Quarterly interest rates on overpayment and underpayment of Mortgage Tax and New York State Real Estate Transfer Tax published
New York City real estate tax rates for the 1st half/1st and 2nd quarters of 2002-2003 announced
Certificate of occupancy revoked for a building in New York City for not having made the required repairs prior to issuance
Second notice of pendency in a specific performance action cannot be filed when the first lis pendens was canceled for failure to serve and file proof of service within 30 days of filing of the notice
"Mareva" injunction upheld for New York practice by the Appellate Division, First Department
Statewide increase in recording and filing fees
Strict foreclosure can be brought against a tenant in possession
Holder of easement is not a necessary party to an action to foreclose a mortgage on the burdened estate when the easement rights were not effected
Request for an injunction to prevent mortgagee from using lockbox funds to purchase terrorism insurance denied
New York State and New York City transfer tax rates applicable to REITS extended to September 1, 2005
- Mere possession without claim of right does not give title by adverse possession
- Easement of light and air cannot be created by implication
- Deeds from common grantor "together with a right of way over" a private road created a valid easement to a private beach and not merely a license
- Federal tax lien attaches to interest of a spouse in property held as tenants by the entirety
- First American's EAGLE 9 ™ UCC Insurance Policy for Buyers approved by the New York State Insurance Department
- Decision striking down New York City's lead poisoning law reversed
- Only a public improvement lien can be filed against City owned property
- Owner must consent to work on its property for a mechanics lien to be properly filed
- Mortgagee entitled to rely on erroneously recorded satisfaction of prior mortgage
- Purchaser of tax lien on property in New York City entitled to interest even when tax lien was canceled due to errors in the City's posting of payments
- New York State Bar Association sues Federal Trade Commission to stop enforcement of the Gramm-Leach-Bliley Act as it applies to attorneys
- Mortgagee authorized to draw from lockbox to purchaser terrorism insurance
- Transfer of a controlling interest in a limited partnership owning real property to a GRAT determined not exempt from New York State Transfer Tax
- Treasury Department to issue regulations by October 24, 2002 on application of the anti-money laundering provisions of the USA Patriot Act of 2001 to "persons involved (in) real estate closings and settlements"
- Condominium and its insurance carrier are responsible for an injury taking place within the tree-well of a sidewalk
- "Time of the essence" can be declared once the contract closing date has passed
- Laws amended as to maintenance of an encroachment onto a public street
- Joint tenancy married after taking title held to be a tenancy in common on divorce
- Mechanics lien "retroactively validated" on reinstatement of corporate lienor
- Assignee of mortgage had priority over holder of prior mortgage whose satisfaction was erroneously filed
- Interest rates for Mortgage Recording Tax and Real Estate Transfer Tax announced for the second quarter of 2002
- New York City's "ULURP" procedure applies to agreement to demolish the railroad "Highline" in Manhattan
- Expired notice of pendency cannot be refiled
- A right of reentry cannot be assigned at common law
- Rule against perpetuities does not apply to a profit a prendre
- Revised TIRSA Leasehold Endorsements
- "Talkline - The Stoler Report"
- Tax Sales - Cases regarding notice meeting due process
- Notice of pendency to foreclose a mortgage seller was to discharge not grounds for seller to cancel contract
- "Flip" tax imposed on sale of cooperative units of deceased shareholders was earmarked for a specific sale and invalidated
- Condemnor may put property to an alternative public use on discontinuance of original public purpose
- Denial by municipality of riparian rights to access canal held compensible
- Property improved with a single family dwelling under Lien Law Section 17 means property improved with between one and four single family dwellings
- Court granted motion to stay foreclosure sale and required assignment to a third party lender on payment of the mortgage debt
- Purchaser from grantee of a person found not to have had the capacity to convey held bound by a notice of pendency filed prior to the recording of the re-conveyance
- Form of Disclosure Statement for New York's Property Condition Disclosure Act
- Payments made by Receiver appointed in prior, dismissed foreclosure did not extend the statute of limitations to enforce the mortgage
- Foreclosure of a mortgage made to secure a guaranty time barred since the limitations period to enforce the underlying debt had expired
- Action to declare the unauthorized execution and recording of a partial release of mortgage was subject to the six year statute of limitations applicable to mortgage foreclosures
- "Talkline-The Stoler Report"
- New York State Tax Department of Taxation and Finance Advisory Opinion holds that a lease will be subject to the state's transfer tax when the lessee's rights take effect
- Default judgment obtained in a Canadian court enforceable notwithstanding that the interest rate for the loan in question would be usurious under New York law
- Adverse possession can be established by mutual mistake
- Stated consideration of "one and no more dollars" in deed from wife to husband put husband's mortgagee on inquiry notice of wife's solvency
- Prospectus for cooperative conversion showed only typical apartments and purchaser could not rely on the unit dimensions shown
- Riparian owner may dredge public underwater lands to preserve reasonable access to navigable water
- Agreement for payment of a fee for negotiating a mortgage payoff is enforceable and does not violate licensing requirements
- Publication requirements of the Limited Liability Company Law held a violation of due process, equal protection and of the right to access the courts
- Mechanics lien filed against former, single tax lot after unit sales and new tax lots were created for individual units for work done for the Sponsor is improper
- Lease with an option to purchase held not an equitable mortgage
- New York City Water Board authorized to establish no less than a four year period to challenge water and sewer bills
- Tax Law Judge and Presiding Officer Determinations of the state's Division of Tax Appeals and Decisions of the state's Tax Appeals Tribunal are available on the internet
- Sale with two-thirds consent under the Not-for-Profit Corporation Law sufficient even if compliance with By-Law requirement of three-fourths consent was in question
- Enabling legislation enacted to provide a partial real estate tax exemption for first time homebuyers of newly constructed homes
- Recorded mortgage with an error in the name of the mortgagor is not constructive notice to a later mortgagee
- Option to purchase binding on "heirs and assigns" violated rule against perpetuities
- Investigation must be made to support allegations of non-military service under the federal Soldiers' and Sailors' Relief Act of 1940 and Section 309 of New York's Military Law
- Definition of "qualified leasehold condominium' amended to include property of the Queens West Development Corporation.
- CLE deadlines extended for attorneys impacted by September 11
- Cause of action upheld for alleged rejection of an application to purchase a cooperative unit because children may be residing in the unit
- Lien for unpaid maintenance charges enforced on foreclosure by unit lender
- "Appurtenance" clause in a deed continues the benefit of an easement of right of way
- Informal Opinion of state's Attorney General that "E-Sign" probably does not preempt New York's "Electronics Signatures and Records Act"
- State of New York liable to Cayuga Indian Nation for the fair rental value of its former homeland, including prejudgment interest on the award
- Acceptance of rent held not consent to the assignment of a lease
- Filing of mechanics lien in New York for work done in 2000 by a New Jersey corporation dissolved in 1990 discharged for not being filed to wind up its affairs
- New York State Department of Taxation and Finance publishes interest rates on taxes for the first quarter of 2002
- Researcher access to New York City property records limited by post September 11 procedures
- New York City fixes real property tax rates for fiscal year 2002
- Expired notice of pendency cannot be extended nunc pro tunc
- New York State's "Property Condition Disclosure Act" effective March 1, 2002
- Right of first refusal not expressly benefiting "successors and assigns" held personal to its holder and not to run with the land
- Recent articles published by First American
- Notice of appeal of a Bankruptcy Court order confirming a lease assignment must be filed within 10 days of entry
- Mortgage held unsecured in Chapter 13 where the debtor has no equity in the property
- Condemnation claim can be maintained by purchaser with knowledge of restrictions on development
- Board President not authorized to consent to construction of a balcony extending from a condominium unit
- Sponsor required to sell unsold units within a reasonable time
- Mortgagee (and its assignee) may be accountable if it had knowledge of builder/seller's fraudulent conduct
- New York City cannot enforce a housing enforcement lien without adhering to its notice procedures
- Lease extending beyond the term of a partnership is not within the ordinary course of a partnership's business
- Real estate tax exemption granted to sellers not continued when they reserved a right of occupancy instead of a life estate
- Advisory Opinion of the New York State Department of Taxation and Finance on a Synthetic Lease
- Real estate taxes held not to reattach when former owner purchased property back from county after a tax sale
- A tenant-in-common cannot extend a space lease without the consent of the co-tenants
- Executive Order issued freezing the assets of listed terrorist organizations
- Unauthorized post-petition transfer upheld since net proceeds were turned over to Trustee
- Trustee charged with duty of inquiry notice of an unrecorded mortgage
- Property reconveyed in action for a constructive trust subject to a mortgage of which plaintiff had notice
- Same-sex domestic partner can claim property interest is subject to a constructive trust
- Interest accrues on NYC Environmental Control judgments
- Voluntary administration of a small estate for a mortgage debt
- Domestic partner held to be a licensee subject to eviction
- Mansion Tax not applicable to a cooperative unit used as a medical office
- Foreclosure by power of sale authorized to July 1, 2005
- Holder of a participation interest not a necessary party to a foreclosure
- Foreclosure upheld notwithstanding lack of notice absent prejudice to defendant
- Mortgage tax not due on a mortgage to either of the UDC/ESDC or the RIOC
- Mortgage tax not due on a Housing Development Fund Mortgage when severed, assumed and/or modified
- Mortgage tax not due when proceeds are used to pay debt owed wrap-around mortgagees
- Nassau County charging fee to verify sewer connection
- Transfer of subsidized housing to a REIT without consent of partners violates New York's Partnership Law
- "Business Operating Transactions" under a power of attorney does not authorize the sale of real property
- No State Transfer Tax on the transfer of condominium units from an LLC to its individual members
- NYC Local Law 36 changes as to charges for Rent Stabilization Fees
- Right of Rescission exercisable within three years if no notice of the right is given by the lender
- NYC Local Law 36 changes as to Tax Lien Sales
- Marital agreement providing for a conveyance must be a judicial decree of separation to be enforced
- Revised Article 9 enacted in New York effective July 1, 2001
- New York Department of State and the New York City Register will accept Revised Article 9 forms
- New York Department of State will not accept current forms of financing statements as of July 1 on enactment of Revised Article 9
- Commercial condominium unit owner authorized to file for a building permit to expand floor space within its unit
- Contract deposit retained as liquidated damages for failure to make a diligent effort to obtain a mortgage commitment
- Severance of joint tenancy resulted in a tenancy in common but interest of husband and wife (who held their entirities interest as joint tenants) remained a tenancy by the entirety
- NYC lead paint abatement provisions apply to a building erected prior to 1960 and later converted to a multiple dwelling
- Naming in a mechanics lien an agent of the owner as owner is a jurisdictional defect not subject to amendment
- Assignee of a mechanics lien must provide under Lien Law Section 38 an itemized statement of the labor and materials furnished
- MERS mortgages not accepted for recording in Suffolk County. State's Attorney General issues an opinion on MERS
- Letter to plaintiff's counsel should have been deemed an appearance in mortgage foreclosure
- Monetary sanctions imposed for raising on appeal of the holding in a mortgage foreclosure defenses "rife with speculation and innuendo"
- Vendee under a contract entered into after a judgment of foreclosure and sale has a common law right to redeem prior to the sale
- Bona fide purchasers bound by a notice of pendency filed prior to recording of their deed
- Interest and penalties on back real estate taxes can be computed only from the date on which the assessment of the property as exempt was corrected
- Enforcement of a judgment for specific performance not acted on for ten years denied for laches
- Title Insurance for UCC Article 9 in New York State
- New/Revised Title Insurance Endorsements: Environmental Protection Lien endorsements, Market Value Rider for the TIRSA Owner's Extended Protection (EAGLE) Policy, Mezzanine Financing endorsement, NYC Development Rights endorsement, and Waiver of Arbitration endorsement.
- Acknowledgement's presumption of due execution to be overcome only by clear and convincing evidence
- Board of Managers authorized to grant a revocable license to enclose a portion of a hallway for the use of two condominium units
- Statute of limitations for an action claiming a constructive trust
- Deed referencing subdivision map includes the benefit of easements over paper streets
Option to sublessee of cooperative unit once exercised does not survive rejection of sublessee's application to purchase
- Interest on note limited due to mortgagee's delay in obtaining judgment of foreclosure and sale
- Failure to enter judgment of foreclosure and sale prior to sale a curable defect since there was no prejudice resulting
- New York City to collect Environmental Control Board judgments through the office of the City Collector
- New York City to collect Rent Stabilization fees through the office of the City Collector
- Notices of a new tax lien sale to be issued for property in New York City
- Notice of pendency properly filed in an action seeking specific performance of provision in a joint venture
agreement requiring the transfer of real property
- State Legislative approval is required before New York City can construct an underground water treatment plant on parkland
- Unlimited right to purchase violates the rule against perpetuities
- Article on Transfer Tax in New York - Continuing Lien Deduction
- New residential form of title insurance policy issued in New York
- Purchaser entitled to rely on an erroneously recorded mortgage satisfaction even thought there was filed a lis pendens to foreclose
- Motion for summary judgment in mortgage foreclosure need not recite the amount being sought
- Credit line mortgages under Tax Law Section 253-b must be executed by the borrower not a separate guarantor
- Mount Vernon transfer tax to be payable by the grantor
- New York City "Conservation Program for Multiple Family Residential Buildings"
- Property Conditions Disclosure Legislation vetoed
- No constructive notice of recording against a Land Map Block and Lot when index was changed to a tax block and lot system
- FCC rule allows satellite antennas in areas where the viewer has exclusive use
- Informal Opinion of the New York State Department of Law on forms of acknowledgment
- Purchase money mortgagee has rights prior to a condominium association to unit rental payments
- Liquidated damage provision upheld as being reasonable in light of "anticipated" damages
- Credit enacted for the Erie County Transfer Tax applies on the resale of residential premises on formerly vacant land
- A mechanics lien may not be filed for general oversight of a construction project
- Mechanics lien action dismissed for failure to plead that the materials were provided at the requested or with the consent of the property owner and lessee
- A mechanics lien may not be filed in New York City by an unlicensed home improvement contractor which has done work for a unit owner
- Limitations period for a bar claim action against a mortgagee brought by a tenant in common held not stayed by a bankruptcy filing against his co-tenant
- New York State Banking Board issues regulations "Restrictions and Limitations on High Cost Home Loans"
- Utilities held required to pay "interference costs" to protect their installations within permanent easements obtained from private owners
- IRS issues Revenue Procedure 2000-37 on "Reverse Exchanges"
- "Fence Affidavit" does not divest title obtained by adverse possession
- Right to obtain leases under Rent Stabilization extinguished by a bankruptcy sale "free and clear"
- Unauthorized post - petition sale of the Debtor's residence upheld since there was no damage to the bankruptcy estate
- Constructive trust imposed when father loaned daughter funds to satisfy a mortgage on the promise to later execute to him a mortgage or make him a co-owner
- New York City Consumer Protection Law held applicable to real estate transactions affecting the public at large
- Owner of land burdened by an easement not responsible for personal injury sustained in the easement area
- A prescriptive easement on land used by the public generally requires assertion of a rights hostile to the owner of the land
- No mortgage tax credit is allowed when a second credit line mortgage is used to pay off a prior credit line mortgage
- Mortgage made to the New York State Urban Development Corporation, or its subsidiary entity, is tax exempt it if presents the mortgage for recording
- New York City HPD lien for repair expenses is enforceable against a purchaser if aware of the expenditure
- Purchaser held to have the obligation to inquire and determine if a credit balance for water charges is accurate
- Presumption that notice of the foreclosure of tax liens was sent held established by the City Treasurer's affidavits of mailing
- Municipalities can now sell tax liens to the State of New York Municipal Bond Bank Agency
- No taxable consideration was received when the taxpayer's property was forfeited to the United States
- Due acknowledgment does not impact the validity of the transfer of title
- Board of Managers can grant unit owners a revocable license to enclose a portion of an adjoining hallway
- Court of Appeals affirms that a cooperative corporation may not indemnify directors for bad faith acts violating civil rights laws
- Nassau County Local Law provides for a penalty on real estate taxes in arrears
- Innocent Owner defense upheld against the New York City Water Board
- Department of Environment Protection may enter into installment agreements for the payment of water charges in arrears
- Any change in New York City real property tax rates once determined will be accounted for in second half billing on January 1, 2001
- Leasehold option when exercised for the Roosevelt Hotel in Manhattan held on conveyance not subject to an existing fee mortgage
- Mortgagee held subject to the life estate of a person in possession
- Period to exercise a right of first refusal not tolled by request for additional property information or, absent a stay, by an action to extend the acceptance period
- Court of Appeals affirms upholdng of a mortgage to secure legal fees executed prior to entry of a divorce judgment
- Civil Asset Forfeiture Act of 2000
- Subcontractor's mechanics lien invalid for failure to identify the general contractor
- Writ of assistance can be employed to evict tenants after a mortgage foreclosure
- Participant in a mortgage loan held to waive rights to foreclose its junior interest
- Credit line mortgages: Application of Tax Law Section 253-b and position on mortgages securing guarantees a credit lines
- Division of Tax Appeals upholds mortgage tax exemption on wrap mortgage refinance of underlying mortgages
- No prejudgment right of attachment to secure repayment of a debt under New York law
- Utility wires and pipes do not constitute taxable real property
- Mortgage has priority over a money judgment first docketed
- Suffolk County Local Law to require well-water testing prior to conveyance of a residential dwelling
- Decisions on restoration of a mortgage cut off on a tax lien foreclosure when property is repurchased by the prior owner
- Surcharge on bills for un-metered water usage to commence July 1, 2000
- Reasonable rental recoverable in lieu of common charges in the foreclosure of a condominium unit
- President of a corporation in the business of buying and selling real property has apparent authority
- Estate of a mortgagor is liable for a deficiency after foreclosure. Property, and surviving spouse in title, are primarily responsible
- Lead based paint disclosure requirements held applicable to target housing as of October 28, 1995
- New York City Local Law 38 of 1999 - "Lead Poisoning Prevention and Control"
- Prepayment penalty can be demanded by a mortgagee absent a right to prepay
- Advisory Opinion of New York State Department of Taxation and Finance on the mortgage recording tax consequences of "defeasance" in the context of a securitized mortgage loan
- Filed notice of pendency binds subsequently obtained interests but does not affect interests acquired after expiration of the notice
- Notice of pendency cannot be extended nunc pro tunc
- Foreclosure sale after bankruptcy case closed is upheld although foreclosure was commenced while stay was in effect
- Debtor has an absolute right to dismiss a voluntary Chapter 13
- Yonkers Transfer Tax reduced effective January 3, 2000
- Declaratory Ruling on Credit Line Mortgages - Extension of "Draw" period
- SRO Tenants not entitled to condemnation awards
- Tenant in common is a necessary party to the foreclosure of the interest of a co-tenant
- Federal tax liens held to be enforceable against disclaimed property
- Limitations on a judgment creditor's right to surplus monies
- Wife took subject to mortgage not dealt with in matrimonial action and husband's payments held to be in lieu of maintenance
- Mortgage assignments in the secondary market held subject to New York's Recording Act
- Fax fee and recording charge on mortgage payoff held actionable
- Interests of commercial tenants can be cut off by a strict foreclosure
Nassau County Transfer Tax to be repealed effective for transfers on and after December 25, 1999
- Emergency repair charges and sewer connection charges in New York City
- New Access, Contract Vendee and Option endorsements in New York
- New York Court of Appeals WEB site
- Changes in New York's Limited Liability Company and Partnership Laws
- New York Business Corporation Law amended - Procedure for a domestic business corporation to merge with or consolidate into a domestic not-for-profit corporation
- Warren County increases its mortgage tax rate
- Rules for the Transfer Tax issued by the City of New York on the application of the mere change of identity exemption to the transfer of controlling economic interests
- Adverse possession may be maintained against the City of New York as to tax foreclosed property
- Application of Civil Practice Laws and Rules Section 306-b to time barred actions dismissed for the failure to file proof of service
- General waiver of defenses by a guarantor held to prevent discharge of guarantee obligations on the principal debtor's release
- Mortgage foreclosed as an equitable mortgage notwithstanding there being an erroneous property description in the deed to the mortgagor
- Nassau County Clerk's requirements for the county transfer tax
- New York City Real Estate Taxes - Change in rates
- New York City Transfer Tax regulations for application of the continuing lien exclusion from consideration
- Reduced transfer tax rates for REITS extended
- New York City Theatre Subdistrict development rights transfers under Section 81-74, Article VIII of the Zoning Resolution enjoined
- Surcharge on bills for non-metered water use is to imposed in New York City commencing July 1, 2000
- Mortgage recording tax - City of Yonkers
- FDIC "Institution Directory" WEB site
- New York City Zoning Resolution WEB site
- New York State Department of Taxation and Finance Advisory Opinion on Commercial Credit Line Mortgages securing less than $3,000,000
- Nassau County Transfer Tax effective August 15, 1999
- On September 1 the new uniform acknowledgment form must be used for acknowledgments taken in New York State
- Mechanic's knowledge of a material misstatement in a Section 22 affidavit is not required for the building loan mortgage to be subordinated to its mechanics lien
- Mortgage assignment cannot be compelled absent a written agreement to execute the assignment
- Inaccurate description of the property being foreclosed in the notice of sale, which referenced the judgment of foreclosure with a correct description, does not require setting aside of the sale as prospective purchasers would have not been misled
- State enabling legislation for a one percent Nassau County Transfer is expected to be enacted
- United States Supreme Court holds that federal courts are not authorized to issue "Mareva" injunctions
- A copy of a promissory note can be enforced
- Restrictive covenant can be enforced by an adjoining landowner which is a third party beneficiary of the restriction
- Real estate taxes can attach while the RTC held a mortgage on the property
- A reverse mortgage, as a credit line mortgage under Real Property Law Section 281, is not limited to advances over a twenty year period
- On its payment of the a debt a guarantor is subrogated to the rights of the lender and can demand an assignment of the note and mortgage
- An improper acknowledgment may impact constructive notice
- Bankruptcy - Unpaid post-petition, pre-rejection rent is not a super-priority administrative expense claim
- First mortgage on a condominium unit at Battery Park City held to have priority over ground rent due the BPCA
- The First American Title Insurance Company of New York has been certified as an Accredited Provider of continuing legal education in the State of New York
- No indemnification of cooperative corporation directors under New York law for certain actions
- Form of UCC Financing Statements for the Department of State
- Subleasing public New York City hospitals requires state legislation
- First American Title Insurance Company, of California, announces its International Title Insurance Policy
- Yellowstone injunction held not to supersede a lease provision requiring payment of interest on rent arrears
- Prepayment premium in a nonresidential commercial mortgage is valid and enforceable
- Usury-avoidance provision does not limit the enforcement of state usury laws
- Foreclosure - Erroneous property description in notice of sale held not misleading
- "Credit Line" mortgages and loans to fund or reimburse expenses for improvements
- New York City Tax Lien Sale scheduled for May 24
- Procedure to adjust water meter accounts in New York City
- Tenancy by the Entirety - Mortgage by wife held to lien property awarded to husband in divorce
- Suffolk County/Peconic Bay Region Transfer Tax
- New York State Transfer Tax - "Interim Term" not included in determining if a lease term is at least 49 years and taxable
- Easement by grant is not revoked by reason of alternative access
- Recreational use to be considered in analysis of navigability
- IDA Owner's title policy endorsement
- New Continuation of Liability provisions for an Owner's title policy
- State WEB site for Institutional History of Banks
- Statutes enacted for the merger and consolidation of certain business entities
- Easement of right of way may in certain instances be relocated by the burdened property owner
- A Not-for-Profit Corporation can be subject to the Religious Corporation Law
- New York City building facade inspections under Local Law 11 of 1998
- New York City Tax Warrants may be enforced by City Marshals
- New York City Landmarks - Local Law 1 of 1998 sets forth alternative procedures to enforce the Landmarks Law
- Suffolk County/Peconic Bay Region Transfer Tax
- City of Yonkers Transfer Tax
- New York Uniform Forms of Acknowledgment
- Acknowledgments - Uniform Forms
Federal Priority Statute and Federal Tax Liens - United States v. Estate of Romani
Judgments - Misspelling the name of the judgment debtor
New York City Real Property Transfer Tax - Draft Amendments for the mere change of identity or form of ownership exemption
Prejudgment Attachments - "Mareva" Injunction
"Star" Exemption - Closing adjustment
Receiver in a mortgage foreclosure to receive all security deposits from the owner of the property
Continuing Legal Education requirements
Condominium Common Charge Lien not extended by mortgage foreclosure
Cooperative Converts to Condominium
Amendment to Georgia Statute governing capacity to act as a fiduciary
Non-judicial mortgage foreclosure legislation passed by New York State Legislature
Lease by mortgagor after foreclosure judgment is a nullity
Purchaser for value retains title on reversal of foreclosure judgment where no stay obtained
Statutory 9 % default rate applies post foreclosure judgment when loan documents do not clearly state that the loan's default rate applies
Dissolved corporation can file a mechanics lien for work prior to dissolution to wind up its affairs
New York City Real Property Transfer Tax - Draft Amendments for the mere change of identity or form of ownership exemption
Sale Leasebacks/Synthetic Leases - FASB Emerging Issues Task Force Issues Bulletin 97-10
Enabling legislation passed for Community Preservation Funds and Transfer Taxes in the towns of the Peconic Bay Region of Suffolk County, New York (East Hampton, Riverhead, Shelter Island, Southampton and Southold) (Chapter 114 of the Laws of 1998)
Adverse Possession - Exclusive possession for twenty years by a co-tenant in common
New York City Real Property Transfer Tax - Draft Amendments for the Continuing Lien exclusion (deduction)
Business Corporation Tax Amendments
Amended Rules of the Chief Administrator ("Sanction Rules") - Signing of pleadings, motions and other papers submitted to the court
Mortgage Recording Tax - Informal interpretation of commercial credit line mortgage statute
New York City Real Property Transfer Tax - Continuing lien deduction not allowed for transfers in a matrimonial
New York City Tax Lien Sales - Schedule of pending sales
Cooperative Units - Uniform Commercial Code to be applied in assessing liquidated damages for breach of a contract to sell a cooperative apartment
Deficiency Judgments - Amendment of complaint after entry of judgment
New York City Real Property Transfer Tax - Continuing lien deduction
New York City Real Property Transfer Tax - Rate for combined units
New York City Tax Lien Sales - Authority extended and other amendments
Amended Rules of the Chief Administrator ("Sanction Rules") - Signing of pleadings, motions and other papers submitted to the court
Bankruptcy - Damages against guarantor of a lease limited by Code Section 502(b)(6)
Deficiency Judgments - Amendment of complaint after entry of judgment
New
York City - New
rule for combination of apartments relating to Certificates of Occupancy
Leases
- Extension
of a lease held to constitute a new lease subject to an intervening fee mortgage
Amended Rules of the
Chief Administrator ("Sanction Rules") - Signing of pleadings, motions and other
papers submitted to the court
Title Policy
Endorsements - New forms of non-imputation and revolving credit endorsements and the
Junior Loan Policy in New York
Web site for municipal codes
Mortgage recording tax - City of Yonkers
Executory Clause - Application of State Finance Law, Section 41 held void under Contract Clause
FIRREA - FDIC's assignee succeeds to its rights as to real estate tax liens
Mortgage Foreclosures - Tenants retain protection of rent regulations
Foreign Terrorist Organizations - Blocking of funds on real estate closings
Mechanics Liens - Vacated for failure to serve all owners within thirty days under Lien Law, Section 11
Mechanics Liens - Vacated lien filed by lessee's broker
Merger - Provisions in a separation agreement held not merged into deed
Rent Stabilization - "Carryover Liability" for rent overcharges
Commencement of an action by filing proof of service
Condominiums - Financing against common charges
Federal Estate Taxes - Increased exemption
New York City Real Property Transfer Tax - Continuing Lien deduction
New York City Real Estate Taxes - Change in rates
New York City Real Property Transfer Tax - Continuing Lien deduction
Acknowledgments - Uniform form
Lifetime Trusts
Mortgage Foreclosures - Payment of real estate taxes
New York City Vault Charges
Tax Warrants - Lien period
New York City Department of Finance Web Site