When you bought your condo or apartment in New York, the board members gave you a document that stipulated the responsibilities and rights of each party. This document, commonly known as the bylaws, binds both parties to certain obligations. For example, the board...
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Conducting due diligence for mergers and acquisitions in New York
Due diligence is a process of investigation and analysis of a deal or investment to assess its value and risks. It is an essential step in mergers and acquisitions (M&A) as it helps buyers and investors to make informed decisions and avoid costly mistakes. Here...
4 ways to avoid a foreclosure in New York
Missing two mortgage payments in New York will often trigger a foreclosure, which is a legal process where the lender takes possession of a borrower's property to repay their debt. Foreclosures can be devastating for homeowners and have long-lasting impacts on their...
New York law protects tenants and restricts landlords
The rent laws in New York have changed many times over the years, which has left many tenants unsure of where they would stand if they became embroiled in a legal dispute with their landlords. Some tenants believe that their landlords could cut off their utilities or...
Derivative lawsuits by shareholders
Shareholders of corporations are essentially owners of the company. While the officers, directors and board members are responsible for the company's day-to-day operations, the shareholders are the real decision-makers. If shareholders believe one or more of the...
How do you resolve a partnership dispute?
New York business partners may often have minor disagreements which they quickly resolve. However, sometimes issues that aren't easily solved may arise, and the partners are left with some difficult decisions to make. They can try to work out their differences and...
Retail lease agreements in New York
The location of a retail business impacts its success. Two essential aspects are foot traffic and visibility. Whether you're a new business owner or manage multiple New York locations, the next step is negotiating a lease agreement. What are the differences between...
Notable tax benefits available to landlords
Some New York residents find that owning rental property is rewarding. Although the role of the landlord carries much responsibility, there are also certain benefits. Among them are these federal income tax breaks. Operating expenses In a landlord/tenant situation,...
Tips on how to deal with an anticipatory breach
When it comes to business and commercial law in New York, several legal issues must be addressed. One of these is an anticipatory breach, which can arise when one party to a contract believes the other has declared their intention not to perform its obligations. In...
Things to consider before buying a condominium
Many New York residents purchase condominiums because they provide an affordable path to home ownership. People who buy condominiums own the units they live in and pay a monthly homeowners association fee to cover the costs of maintaining and improving common areas...