CURRENT DEVELOPMENTS
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 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 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
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