The New York State Bar Association is offering a legal education class to alert New York lawyers that they will no longer be able to give a homebuyer a $500 credit at closing in lieu of providing information about the home on the property disclosure statement. The new law goes into effect on March 20. … Continued
Since March 1, 2002, R.P.L. § 462(1) of the Property Condition Disclosure Act (Article 14) (PCDA)1 has provided that a seller of residential real property shall deliver to the buyer or the buyer’s agent a Property Condition Disclosure Statement (PCDS), making representations by the seller in answer to 48 questions, in a form set forth … Continued
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The New York State Bar Association is recommending that the new record-keeping rules for in-person notarizations be repealed, arguing they are unworkable and will have a negative impact on attorneys and clients alike. “The record keeping and record retention regulations are superfluous for attorneys,” said Sherry Levin Wallach, president of the New York State Bar … Continued
The New York State Bar Association has formed a task force to study the state’s new rules on notarization, which are having a significant impact on lawyers handling real estate transactions, wills and trusts and all other legal matters that require signing documents. While the task force members deliberate, the association is doing everything it … Continued
At a New York State Bar Association program on the metaverse Friday at the NYU School of Law, the first order of business was establishing exactly what the metaverse is. A lot of people believe it’s a homogenous place next to the real world where avatars interact. The reality is that it’s many places and … Continued
In DCH Auto v. Town of Mamaroneck, the New York State Court of Appeals unanimously reversed the Appellate Division, Second Department, and held that a “net lessee contractually obligated to pay the real estate taxes of the subject property is included within the meaning of ‘the person whose property is assessed’ under [Real Property Tax … Continued