Can You Claim Property Partition After a Divorce Settlement? NY Court Says No

This week we wanted to bring to your attention an interesting decision rendered in the Appellate Division, 2nd Department which affirmed a lower Court’s Order dismissing a Plaintiff’s claim for partition and sale of marital property where a prior Judgment of Divorce, among other relief, had effectively resolved all claims for equitable distribution and property distribution between the parties. 
The relevant fact of, as well as a link to, the case are set forth below.

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Post-Death Property Transfer in NY Divorce: Legal Analysis

This week we wanted to bring to your attention an interesting decision out of the Second Department which upheld a lower court’s Order appointing the Executor of a deceased husband’s (the “Plaintiff”) estate as the receiver of certain property to transfer title because the wife (the “Defendant”) failed to cooperate in effectuating the transfer of title to the property, as required by the judgment of divorce.
The relevant facts of, as well as a link to, the case are set forth below.

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Important NY Ruling on Mortgage vs. Mezzanine Lender Rights

This week we wanted to draw your attention to an interesting decision issued by Justice Andrew Borrok in the Commercial Division of the Supreme Court, New York County, which held, in relevant part, that absent an Intercreditor Agreement to the contrary, a Mezzanine Lender had no standing to challenge the foreclosure proceeding brought by the Mortgagee holding the first mortgage on a property. 
The relevant facts of, as well as a link to, the case are set forth below.

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NY Court Affirms Intent in Deed Language for Easements

This week we wanted to draw your attention to an interesting case decided in the Third Department wherein the Appellate Division affirmed a Lower Court’s Order granting Plaintiff’s Summary Judgment motion enforcing Plaintiff’s rights with respect to two (2) separate easements established in the Deeds which transferred title to the Parties. 
The relevant facts of, as well as a link to, the case are set forth below.

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Critical Updates for Title Professionals: HUD Mortgage Changes

This week we wanted to alert you to the fact that the U.S. Department of Housing and Urban Development (HUD) is planning on both extending the recording time for Mortgagees to record their security documents as well as modifying their procedures to request Payoff Letters for the “Partial Claim Mortgages.”   If you are not familiar with a “Partial Claim Mortgage, please note that t he Federal Housing Administration (FHA), as part of HUD, offers loan modification programs for FHA-insured loans (FHA Loan) to homeowners facing financial hardships by authorizing the deferral of some or all defaulted amounts.  These deferred amounts may be set aside for future payoff, resulting in a modification to the loan.  As part of the modification process, the deferred amounts are assigned to HUD and a second mortgage is recorded to secure the additional obligation.  The mortgage in favor of HUD is referred to as a “Partial Claim Mortgage.”

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Breaking: HPD Sets $1,500 Fine Per Unit for Local Law 31 Non-Compliance

This week we wanted to update you on additional information coming from the NYC Department of Housing, Preservation and Development (HPD) regarding the possible penalties that can be assessed for failure to comply with the lead paint testing and reporting requirements required under NYC Local Law 31 of 2020 (“LL 31”). As reported in our August 6, 2024 Title Tuesday email,  property owners of all tenant-occupied residential properties built prior to 1960 (or between 1960 and 1978 if lead paint is known to have been used in the building) must complete at least one (1) investigation for the presence of lead-based paint utilizing an X-Ray Fluorescence (XRF) analyzer by no later than August 9, 2025 (the “Effective Date”).

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CLE credits via Webinar - Changes to ALTA Policies and NY Endorsements

Continuing Legal Education Seminar (CLE)

When: January 15th,2025
Time: 12:00pm-1:00pm via gotowebinar.com
Topic: Understanding the 2021 ALTA Policies and Changes to the NY Endorsements.

This webinar will discuss the changes and coverages in the new ALTA Policy, as well as the changes in NY Endorsements which may affect your client's upcoming closings and future transactions.

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Urgent Deadline: NYC Parapet Inspection Requirements Under Local Law 126

As we approach the end of the year, we just wanted to remind that the deadline to complete the initial annual parapet inspections for buildings covered under §§ 103-15 (Periodic observation of building parapets) of Local Law 126 of 2021 (LL 126) will expire on December 31, 2024. LL 126 requires annual inspections of all parapets by “a person competent to inspect parapets”. The law defines “a person competent to inspect parapets” by stating “…(T)his includes, but is not limited to, a bricklayer, building superintendent, handyman, mason or a person in a similar construction-related trade, architect, engineer, an inspector working for a New York State-authorized insurance company, a New York State-authorized building inspector or any other person capable of identifying hazards on the parapet.”

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Urgent Update: CTA Reporting Requirements Paused by Federal Court Ruling

This week we are supplementing our December 3, 2024, Title Tuesday email regarding the Corporate Transparency Act (CTA) reporting requirements. Please take not that the United States District Court, Eastern District of Texas, in a case entitled Texas Top Cop Shop, Inc., ET AL. vs. Merrick Garland, Attorney General of the United States, ET. AL. (citations omitted), recently issued an Opinion and Order which included a “nationwide injunction”, against the CTA reporting requirements has in effect (see pages 74-78 in the linked Opinion and Order below). Therefore, until further notice or decision from an Appellate Court, all filing requirements set forth in the CTA are suspended indefinitely. Home will continue to monitor this case and will provide future updates on the CTA as appropriate.

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Urgent: Beneficial Ownership Information (BOI) Reporting Deadline Approaches

This week we want to take the opportunity to remind you that, under the Corporate Transparency Act: 31 U.S.C. 5336 (“CTA”), the deadline to report Beneficial Ownership Information (“BOI”) for certain covered Reporting Companies that were created or registered to do business before January 1, 2024, is expiring on January 1, 2025. Please note that any Reporting Company created or registered on or after January 1, 2024, but before January 1, 2025, will have ninety (90) days to file its initial BOI report from the earliest date of notice of its creation.

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NY Property Rights: How Mental Capacity Affects Home Mortgages and Transfers

This week we wanted to draw your attention to an interesting, and what some may consider a surprising, decision out of the 2nd Department wherein the Appellate Division affirmed a Lower Court’s Order that had denied a Lender’s motion for Summary Judgment seeking, among other relief, enforcement of its mortgage. The Order and Appellate Division’s affirmation were based, in part, on the determination that the Lender failed to provide evidentiary support refuting Plaintiff’s allegation that one of mortgagees was incompetent and, further that the Lender failed to provide proof that Lender was unaware of any facts alleging that the mortgagor was under undue influence at the time of transferring title or making the mortgage.
The relevant facts of, as well as a link to, the case are set forth below.

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NY Foreclosure Auction Buyers: Understanding Your Obligations and Risks After the Gavel Falls

Today we wanted to bring to your attention to an interesting decision out of the Appellate Division, 2nd Department which affirmed a Supreme Court Order granting a Plaintiff’s (Foreclosing Lender) for a judgment of default and directed the retention of the Defendant’s (Successful Bidder) down payment for failure to close in accordance with the Terms of Sale.
The relevant facts of, as well as a link to, the case are set forth below.

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NY Court Rules on Easement Rights: Important Update for Long Beach Homeowners

This week we wanted to bring to your attention an interesting case decided in the 2nd Department wherein the Appellate Court affirmed a lower court’s order dismissing a Plaintiff’s Complaint which claimed that the Defendant’s easement for ingress/easement across Plaintiff’s property was abandoned and unenforceable. Notwithstanding that the Easement was not properly recorded against Plaintiff’s property, both the Lower and Appellate Courts found in favor of the Defendant and dismissed the Plaintiff’s Complaint based on the specific facts of the case.
The relevant facts of, as well as a link to, the case are set forth below:

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Important Alert for NY Homeowners: New Court Ruling on Adverse Possession

This week we wanted to bring your attention to an interesting case decided in the Appellate Division, 2nd Department which decision affirmed a Lower Court’s Order granting Defendant’s motion to dismiss Plaintiff’s complaint that sought a judgment declaring that the Plaintiff had successfully acquired, via Adverse Possession, property owned by the County of Westchester. The relevant facts of, as well as a link to, the case are set forth below.

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Contract Language Matters: How a NY Court Protected a Seller's Deposit Rights

This week we wanted to draw your attention to an interesting case decided in the Commercial Term Part of the Kings County Supreme Court wherein the Court granted Plaintiff-seller’s motion for summary judgment awarding Seller the Contract Deposit and legal fees due to Defendant-buyer’s default under the Contract and dismissed the Defendant-buyer’s motion for summary judgment seeking an Order declaring Plaintiff-seller in Default and directing the return of the Defendant-purchaser’s down payment plus legal fees.  The decision turned on the fact that the post-contract discovery of a zoning requirement that requires the widening of the sidewalk and thereby reduced the square footage of the Property being purchased was not a Seller’s closing obligation covered by the Contract. 
The relevant facts of, as well as a link to, the case are set forth below.  

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NYC Heat Season 2024: What Property Owners Need to Know

This week we wanted to remind you that that the official New York City “Heat Season” has begun.  Building owners are legally required to provide heat and hot water to their tenants.  Hot water must be provided 365 days per year at a constant minimum temperature of 120 degrees Fahrenheit.

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Self Serving Affidavits Insufficient to Calculate Debt Owed in Foreclosure Proceeding

This week we wanted to bring your attention to an interesting decision out of the Appellate Division, 2nd Department, which vacated a lower Court’s Order granting Plaintiff/Lender a Judgment of Foreclosure and Sale on a mortgage foreclosure proceeding.  The Court based its decision, in part, on the fact that the “affidavit of the plaintiff's servicing agent, submitted for the purpose of establishing the amount due and owing under the subject mortgage loan, constituted inadmissible hearsay and lacked probative value.”  
The relevant facts of, as well as a link to, the case are set forth below.

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Countdown to 2025: Preparing Your NYC Property for Local Law 97 Compliance"

This week we wanted to remind you that building owners of certain “Covered Buildings” must start to comply with NYC Local Law 97 of 2019 (“LL 97”), which became effective on November 15, 2019, and sets limits on the greenhouse gas emissions starting in 2024. The goal of LL 97 is to help New York City reduce, by at least 40%, its greenhouse gas emissions from buildings by the year 2030 and achieve net zero emissions by 2050.

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Preparing for the TIRSA Manual's 7th Revision: Key Updates for Real Estate Professionals

This week we wanted to update you on significant changes being implemented to the Title Insurance Rate Service Association (TIRSA)  Manual which will take effect on October 1, 2024 (collectively the “7th Revision to the TIRSA Manual”).

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Property Rights Victory: Court Upholds Homeowners' Driveway Installation

This week we wanted to bring to your attention an interesting decision out of the Appellate Division, 3rd Department, which upheld a lower court’s ruling that, in part, dismissed a Plaintiff’s Complaint seeking a Declaratory Judgment that the Defendants’ installation of a driveway had violated a Restrictive Declaration contained in their Subdivision Covenants & Restrictions agreement.  The relevant facts of, as well as a link to, the case are set forth below.

  296 Hits

Home Abstract Corp.

8225 3rd Ave, Brooklyn, NY 11209
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Phone: (718) 680-4663
Fax: (718) 680-4668

8225 3rd Ave, Brooklyn, NY 11209
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Phone: (718) 680-4663
Fax: (718) 680-4668

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