Local Law 97: Compliance and Related Legal Issues I. Introduction Local Law 97 (LL97), which requires covered buildings to reduce their carbon emissions 40% by 2030 and 80% by 2050, is changing the landscape of New York City real estate as we know it. With nearly three-quarters of the city’s total carbon emissions produced by buildings, … Continued
My approach to assuming the role of chairperson of the Real Property Law Section has been to imitate, to the extent that I am able, the perspectives and approaches of those who preceded me. My immediate predecessor is Spencer Compton, who rose to the position during the tumultuous period when COVID-19 had begun to dominate … Continued
Alice Breding is the principal attorney at Breding Law and focuses on family-centric residential real estate. Much of her work includes helping individuals buy their first home as well as helping to plan to take care of their families in the future. She also practices in the areas of estate planning, small business planning, vehicle … Continued
On November 17, 2022, the Climate Change Committee of the New York State Bar Association’s Real Property Law Section sponsored a CLE webinar, “Challenges and Opportunities in Financing Energy Improvements in Multifamily Buildings.” This program is part of an ongoing effort by the Climate Change Committee to educate the bar how to respond to the … Continued
As lenders and servicers well know (even if they did not read these columns) New York imposes by statute a 90-day notice to be sent to the borrower as a prerequisite to acceleration and foreclosure.1 Attorneys for lenders and borrowers would know this as well. Presumed knowledge aside, for some reason, lenders have had difficulty in actually proving the … Continued
Lenders in New York are battling backwards to foreclose on loans that are indisputably due and owing. On Dec. 30, 2022, Governor Kathy Hochul signed into law the controversial Foreclosure Abuse Prevention Act (FAPA) in direct response to the New York State Court of Appeals’ decision in Freedom Mtge. Corp. v. Engel, 37 N.Y.3d 1 (2021), … Continued