News & Insights

Easements: With Rights Come Responsibility

Easements: With Rights Come Responsibility

An easement is an agreement that gives one property owner (known as the “dominant estate”) the right to make certain limited use of someone else’s property. The property subject to an easement is known as the “servient estate”. While there are significant benefits to having an easement, there are also unavoidable obligations assumed by the … Read more

HOW TO GET A REDUCED SALES TAX RATE AS A RESIDENTIAL LANDLORD

SALES TAX

On August 5, 2024, the New York Department of Taxation and Finance’s Office of Counsel published Advisory Opinion: TSB-A-24(26)S. addressing an important sales tax issue for residential landlords. The opinion was issued in response to a petition by a landlord asking the Department whether purchases of electricity and natural gas used by his residential tenants … Read more

COURT FINDS THAT RESTRICTIVE COVENANT PROHIBITS AIRBNBS

RESTRICTIVE COVENANT

A growing number of homeowners have created a new source of income by listing their property on Airbnb. However, some of these individuals have also faced pushback from their neighbors and communities. In a recent New York case, the issue ended up in litigation with the Court called upon to decide whether Airbnb rentals violated … Read more

LEASE MUST BE SIGNED AND DELIVERED TO MAKE IT ENFORCEABLE

LEASE

Like any contract, leases must meet certain requirements to be legally valid. One of these requirements was addressed in a recent decision of the New York Supreme Court Appellate Division, First Department. The case involved a lease amendment that was signed by the tenant but the tenant never received a copy of the fully executed … Read more

LET THE BUYER BEWARE – NOT ALWAYS!

BUYER BEWARE

“Caveat emptor” (i.e. let the buyer beware) is a long-standing doctrine in New York which states that a seller is not liable for failing to disclose information regarding the item being sold unless the seller actively conceals the information from the buyer. As demonstrated in a case recently decided by the New York Appellate Division, … Read more