Recent Blog Posts
What To Know About Zoning Ordinance Laws In New York
Zoning refers to local laws that determine how land is to be used and divided. The goal of zoning laws is to create an orderly system of development within neighborhoods and across the city as a whole. When buying or selling property (or vacant land) it is critical to know what that location is… Read More »
5 Common Mistakes That Home Buyers Make
Searching for and purchasing a home can be an exciting process, whether it is your first home or another purchase. It can also be an overwhelming and nerve-wracking experience for those unfamiliar with the various steps and terminology used when going through a real estate transaction. No matter how experienced you are, however, it… Read More »
Protecting New York Real Estate From Creditors And Financial Risk
A homebuyer may be tempted to think that once the closing is complete and a title and deed are in hand, nothing can happen to their newly acquired property. In some ways, however, risk only begins once the property has been transferred. Without certain protections in place, a property is open to attack from… Read More »
When And When Not To Put Real Property In Your Children’s Names
A common myth is that when we get older, we should transfer title of our home and other real property to our children. The stated goals of this transfer are to obtain eligibility for Medicaid, avoid estate taxes, and simplify the eventual transfer by avoiding probate. In reality, these goals can usually be met… Read More »
5 Things To Know About Foreclosure Short Sales In New York
Short sales are a frequently used tool to benefit both a homeowner/borrower and the bank holding a lien on real property. The outcome of a short sale usually benefits both parties, and can benefit potential buyers as well. Whether you are a potential seller or buyer, there are important things to know about the… Read More »
What To Do When A Commercial Tenant Stops Paying Rent
A commercial lease is a contract between the property’s owner (the landlord, or “lessor”) and the business operator seeking to rent space for commercial use (the tenant, or “lessee”). The lease details all obligations that both parties have as part of the agreement. For example, a lessor is required to maintain the property, respond… Read More »
Mistakes To Avoid When Purchasing Property In New York
Purchasing real estate can be one of the biggest events of a homebuyer’s life, and is usually one one the most important – if not the single biggest – purchases they will ever make. The process can be exhilarating but is fraught with potential complications, however. Some common errors that homebuyers may make while… Read More »
Condos Vs. Co-Ops As A New York Real Estate Investment Strategy
Most people are familiar with condominiums (or “condos”) as a real estate option. With a condo, purchasers buy a unit within a larger dwelling, and they own the space within their unit and an interest in the common areas. Another option, relatively unique to New York, is a housing co-operative (or “co-op”). In New… Read More »
5 Reasons To Form An LLC For Your Rental Property
If you own rental property or are thinking about buying rental property, you may wonder whether it is best to keep the property in your own name or contain it within an LLC. For several reasons, it could benefit you in the long run to create an LLC for your property. An LLC (Limited… Read More »
401K And IRA Considerations When Planning For Medicaid: How Can You Keep These Accounts And Still Qualify?
If you or a family member are planning for Medicaid coverage and eligibility, the process can seem overwhelming at first. Since Medicaid is a needs-based program that reviews an individual’s income and assets, many wonder: how do I even qualify? You may have heard stories about others spending themselves into poverty just to get… Read More »