Debra Guzov, Esq. and Harley Auerbach, LLM contributed two articles to Rapaport Magazine’s July Special Supplement on “Making Memo Work”. The two articles, “Avoiding the Pitfalls” and “Consign on the Dotted Line” examine the security risks and legal requirements associated with credit memoranda.
Download the articles here.
A shareholder in your co-op has recently become disabled and your building’s entrance is not fully accessible. Is the co-op responsible for modifying the entrance so it accommodates the disabled resident? Accommodations required by Title III of the American...
The New York State Department of Taxation recently issued a Letter Ruling--an official document that provides guidance on how certain tax laws are to be interpreted and applied-- stating that licenses for parking and storage spaces are now classified as interests in...
Buying an apartment through a Limited Liability Company or LLC may be a way to limit personal liability or protect assets, but it may not be a viable option. Even if it is, it might not be worth the trouble. In the first instance, the purchase of a cooperative...
When it comes to allowing adult children to live in a co-op without the shareholder, a host of questions come into play, including the co-op’s rules about subletting and the terms of the proprietary lease. In a prior post about subletting a co-op, we explained that...
New York City residents know that there are pros and cons to living in a co-op versus a condominium. One area of contrast is in estate planning, or the transfer of property to a beneficiary upon the resident’s death. Condo owners obtain the rights to the real property...