Finding Business, Real Estate, and Litigation
Solutions That Meet Your Needs

New York Real Estate Law Blog

Can you back out of a home purchase?

If you've ever had "buyer's regret" after making a $100 purchase, can you imagine how bad it must feel to have buyer's regret over a whole house?

Unfortunately, it does happen. Sometimes potential buyers get so excited over one aspect of a property that they totally ignore a huge problem. Sure, the home has the perfect yard -- but the commute for the buyer is grueling. Or, maybe the buyers absolutely love everything about the house -- until they realize that the crime rate in the area is awful. Maybe they just got so caught up in the quest to beat other potential buyers to what looked like a great deal that they overbid. Now, they can't get the loan they need.

Dispute resolution options for conflicts with staff or partners

When you have what seems like an intractable conflict with an employee, a client or a supplier, it may seem like there is no way for your business to resolve the issue without going to court. It is certainly true that you need to take legal action to defend your company against illegal actions or the violation of contracts.

However, it is possible to pursue some alternative forms of dispute resolution with business partners and staff before you head to court. In fact, many companies include mandatory arbitration clauses in their employment contracts with the express intention of keeping conflicts out of the legal system.

Is it safe to invest in 'cannabis real estate'?

The cannabis industry is experiencing a period of rapid growth -- which means that it could be a great time to invest in commercial real estate that's designed to be used for growing cannabis, processing it or dispensing it to either medical marijuana patients or (eventually, you may hope) recreational users.

It's also a time fraught with a lot of risks for those in the cannabis industry -- but savvy investors know that and know that no market is 100% "good" or "bad" for any type of investment.

Choose your real estate attorney carefully to avoid problems

Whether you're buying or selling, when you pick an attorney to handle your New York real estate transaction, pick carefully. Whether you're buying or selling, the wrong choice can be a disaster.

Sure, you may know an attorney who handles general legal matters and have utter confidence in his or her skills -- but every area of law has its own quirks. It's impossible for any one person to know everything.

How do you protect yourself during a short sale?

You were so excited to buy your home and everything seemed perfect -- until your financial troubles set in. Maybe you got a divorce, lost a job or had a medical crisis in the family. Whatever the issue, your mortgage suddenly became more than you could handle, and you started looking for a way out of your situation. The home goes back up for sale.

Then, the bottom drops out of your world. You find out that the real estate market in your area has shifted dramatically, and your house is worth less than you owe. Or, alternately, you simply don't have enough equity built up yet to pay a realtor, and you don't have any luck trying to sell it on your own.

Get help for your New York condominium legal issues

When a housing development or apartment building converts to a condominium there's often a steep learning curve involved for everyone. Some of the problems you may encounter -- whether you're a developer or a resident -- can end up being easily resolved. Others will probably require some experienced legal assistance.

Our office has significant experience no matter what stage of conversion you are in or what problem you're facing. We can help with:

  • Coordinating all of the professionals involved in your condo project, including architects, tax experts and marketing directors
  • Submitting the initial cooperative ownership proposal or "red herring" to the existing tenants and the state
  • Drafting your contracts with the construction company and the marketing company
  • Negotiating with tenants who have formed a "no-buy" agreement in order to force concessions they want
  • Drafting the condo owners' association by-laws and rules
  • Disputes with tenants about the non-payment of fees and maintenance dues or quality-of-life issues
  • Negotiating any mortgage refinancing that needs to be completed
  • Defending the condo board or members against litigation by unit owners or tenants
  • Managing the post-closing amendments or closings on individual apartments
  • Negotiating changes to the plans with the New York Attorney General's office
  • Filing the final offering plan or "black book"

Reasons for disputes between business partners

Like any relationship, your relationship with your business partner is going to have its ups and downs. You will not always agree. You may argue. While you may have felt full of optimism and enthusiasm when you started the company, that feeling will not last forever. Things could take a turn.

If they go very badly, you could find yourself in a serious dispute with your business partner. This puts the entire company in jeopardy. You need to know your rights and what steps to take. Ideally, you and your business partner signed a legal partnership agreement when you started the company, which helps to detail what rights you have, what steps to take if there is a dispute and what to do if you can no longer work together.

New York's new real estate law could affect wealthy buyers

Why should New York care who buys property in the state?

For years, the ultra-wealthy have enjoyed anonymity when they purchase real estate in New York. Celebrity owners and those who inhabit the area known as "Billionaires' Row" have long favored the use of limited liability companies (LLCs) to purchase and hold property.

Tips for long-distance real estate investing

A commercial property investor who never looks much beyond their own back door will probably end up missing out on some prime opportunities. Some of the best real estate deals you may ever encounter could be located halfway across the country -- or further.

Is investing in real estate at a distance entirely safe? No, of course not. No investment is truly safe, but there are always ways you can mitigate the risks you face. Here are a few tips you can use when a long-distance deal comes your way:

Buying a house that was remodeled without a permit

The popularity of do-it-yourself remodeling shows on television these days has inspired homeowners everywhere to tackle both large and small renovations on their own.

Unfortunately, sometimes they proceed to remodel without bothering to get a permit. In some cases, that's done to avoid additional hikes in the taxes (like when a second bathroom is added). In other cases, it may be done out of inexperience. Sometimes, the homeowner just doesn't realize that they need a permit. Either way, it can become a big problem years down the road when they put the property on the market for sale.

Office Location

Turek Roth Grossman LLP
377 Fifth Avenue
Sixth Floor
New York, NY 10016

Phone: 212-223-3562
Fax: 212-223-3614
Map & Directions