Archive | Real Estate Law

10

New Rules Require full Disclosure from Shell Companies Buying Condos in New York

In May 2015, NYC Mayor  De Blasio’s administration passed new disclosure requirements for “shell companies” seeking to purchase condominiums in New York City. These requirements are meant to increase transparency in the real estate industry, , which previously allowed for individuals to use shell companies to make expensive real estate purchases, and to own property, almost […]

Continue Reading
10

Underwater Mortgages Hit New Low

This year, the number of equity rich properties in the United States hit a new low, while the number of properties considered to be “underwater” on their mortgages has hit a plateau. In New York, the current number of equity rich properties, or properties where the owner has paid off at least 50 percent of the property’s […]

Continue Reading