Legal

The legal landscape in New York changes every year, and 2024 was no exception. In this client alert we will review some of our alerts of 2024 that highlighted these changes. Real Estate Board Of New York’s Real Estate Practice Revisions: At the beginning of 2024, REBNY prohibited listing brokers from paying a purchaser’s broker, among […]

Summary On December 26, 2024, the U.S. Court of Appeals for the Fifth Circuit has reversed itself and vacated the stay of a preliminary injunction that had blocked enforcement of the Corporate Transparency Act (CTA) and its Beneficial Ownership Information (BOI) Reporting Rule. The decision can be found HERE. This latest development creates uncertainty around BOI reporting

Since the Fifth Circuit Court of Appeals decision issuing a stay of the preliminary injunction of the Corporate Transparency Act, the Financial Crimes Enforcement Network has extended the deadline to the BOI Reports until January 13, 2025. This is an update to our last client alert. Businesses can file their Beneficial Ownership Information (BOI) filings using the BOI

FIFTH CIRCUIT COURT OF APPEALS REINSTATES JANUARY 1, 2025 CORPORATE TRANSPARENCY ACT DEADLINE On December 23, 2024, the Fifth Circuit Court of Appeals issued a stay of the preliminary injunction of the Corporate Transparency Act.  The decision can be found HERE. The result of the decision is that Corporate Transparency Act Beneficial Ownership Information Reports are Due

On December 3, 2024, the U.S. District Court for the Eastern District of Texas issued a nationwide preliminary injunction suspending the enforcement of the Corporate Transparency Act (CTA). In Texas Top Cop Shop, Inc., et al. v. Garland, et al., U.S. District Judge Amos Mazzant temporarily halted the CTA’s reporting requirements finding the act likely

Today the New York City Council passed significant legislation reforming how broker fees can be charged and disclosed in residential real estate leases. The legislation now awaits the Mayor’s signature, and if signed would become effective 180 days after enacted. As you may already be aware, residential leasing in New York State and New York

When a person dies, their estate may undergo a legal process called probate in which a decedent’s estate is administered, their assets and property distributed, and their debts settled. Probate is supervised and managed by the Surrogate’s Court. The court determines the validity of the will, appoints an executor to carry out the decedent’s wishes,

In New York City, Co-Op apartments comprise a significant portion of the housing stock. Approximately 4,800 buildings in New York are Co-Ops, more than half of which are located in Manhattan. Co-Ops are corporations in which each apartment owner is both a shareholder and tenant of that corporation. The shareholder tenants elect a board of

Named for the Internal Revenue Code § 1031 in which it appears, like-kind exchanges have been a popular tool for real estate investors since they were first added to the tax code over a century ago.* “1031 exchanges” or like kind exchanges are used to defer taxes due on capital gains from the sale of

In New York City, the term “pied-à-terre” commonly refers to an apartment used as a non-primary residence. Pied-à-terre rentals can often be found in Condominium and Cooperative buildings as well as townhouses. Over the past few years, New York State has enacted legislation which significantly affects rental units. This client alert will address the Housing