BLOG / 02.25.20 /Jacob E. Amir
Buyer deemed not “able” to purchase where seller fails to obtain short sale approval from seller’s bank
Buyers seeking to enforce their contractual rights by an action for “specific performance” to compel the sale of real property have to demonstrate that they are “ready, willing and able” to acquire the property. Apparently, the determination whether a buyer is “able” to complete the purchase does not refer simply to the buyer’s capabilities, but …
BLOG / 02.25.20 /Jacob E. Amir
Members of a cooperative’s board of directors enjoy the protections of both the corporate shield and the business judgment rule, such that they may not be held personally liable for property damage or personal injury when a claim is made in connection with actions taken by directors in their official capacity as board members. But …
BLOG / 01.21.20 /Jacob E. Amir
In Leasing or Purchasing Real Estate from a Not-for-Profit, the Purchase Money Mortgage is Probably Not an Option
As a New York Times article from last October described, religious institutions strapped for operating funds or wishing to utilize their real property as investment vehicles can enter into sales or long-term lease agreements with developers. However, New York State Religious Corporation Law requires religious institutions to obtain judicial and/or New York State Attorney General …
BLOG / 11.15.19 /Jacob E. Amir
Lien Law Section 79 criminalizes the diversion of trust funds from the purpose created by the trust. In layman’s terms, that basically means that a contractor who receives payments from a property owner for a project must use the payments for the purposes intended under the project (e.g., labor, subcontractors, vendors, etc.). Diverting those funds …
BLOG / 08.22.19 /Jacob E. Amir
Jacob Amir contributed an article in Cornerstone, the semi-annual publication of the Associated General Contractors, New York State, a leading trade association representing contractors and related companies in the building and highway construction industry.
BLOG / 11.28.18 /Jacob E. Amir
Don’t rely strictly on a title report for disclosure of recorded zoning declarations affecting real property
A recent decision from the Suffolk County Supreme Court reiterated that zoning ordinances are not “defects” in title covered under policies of title insurance. Purchasers and developers are reminded to do their own due diligence, and go beyond the title report, to understand what existing and recorded zoning limitations might affect their prospective property interest.
BLOG / 08.06.18 /Jacob E. Amir
Jacob Amir contributed an article in Cornerstone, the semi-annual publication of the Associated General Contractors, New York State, a leading trade association representing contractors and related companies in the building and highway construction industry. Jacob’s article addresses the importance of defining “substantial completion” for purposes of Lien Law and general contract claims brought on behalf of contractors.
BLOG / 07.18.18 /Jacob E. Amir
Expiration of tenant’s license issued under the New York Conservation Law permits owner to remove tenant for engaging in “illegal activity” under the Real Property Law
Lease agreements typically contain a provision whereby the agreement is deemed breached and the tenant may be evicted for engaging in “illegal activities.” Eviction based upon an illegal activity is also codified in New York Real Property Law § 231(1), which sets forth that a lease agreement becomes void where an occupant or lessee uses a premises for any “illegal trade, manufacture or other business”, thereupon permitting the owner to seek an eviction.
BLOG / 05.16.18 /Jacob E. Amir
Tenant deemed successful party in landlord’s “action to recover possession” seeking to reform lease to exclude tenant’s use of backyard of demised premises
Standard lease agreements include a provision that the successful party is entitled to recover attorneys’ fees and costs incurred on any action or proceeding brought for non-payment of rent or recovery of possession of the subject premises. Where the contract limits the attorneys’ fees provision for the benefit of the landlord (e.g., that landlord is entitled to recover), the law gives the tenant a reciprocal right to recovery of attorneys’ fees and costs if the tenant is successful in the action.
BLOG / 04.19.18 /Jacob E. Amir
Court Rules that Non-Participating Brokers Do Not Owe a Fiduciary Duty to a Brokerage Firm’s Client
It is well-established that real estate brokers owe a fiduciary duty of loyalty and to act in the best interest of their clients. Where the brokerage firm is comprised of several brokers, the client may naturally assume that both the listing broker, and the firm at large, will work in the best interest of the client’s needs and desires. A recent decision from the Westchester County Supreme Court warns clients against making this assumption.