Not Quite Ready to Buy? Rent to Own.

A rent to own contract is a contract between a property owner and a renter who plans to buy the property within a specified period of time. In most cases, the renter will pay the owner a deposit which will be used towards a down payment when it is time to purchase the house. In […]

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Written Brokerage Agreements – When You’re Right, Write.

Generally speaking, a real estate broker is entitled to a commission when he or she procures a buyer ready, willing and able to purchase the subject property on terms acceptable to the seller. Although the rule sounds simple, disputes over failure to pay brokerage commissions are surprisingly common. Under New York law, a commission agreements […]

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New Law Requires All Members of a Limited Liability Company to Disclose Tax ID Numbers (Even for Non-Managing Members)

Effective Monday, May 18, 2015, New York City’s Department of Finance implemented material changes in connection with the preparation and filing of the City’s Real Property Transfer Tax Return (“NYC-RPT”) in its Automated City Register Information System (“ACRIS”).  Previously, parties were only required to disclose the name and social security numbers (“SSN”) or employer identification […]

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