A recent decision by the United States District Court for the Northern District of New York (the “Court”) concluded that a federal court cannot prevent a state court foreclosure pursuant to the abstention doctrine set out by...more
The Uniform Partition of Heirs Property Act (the Heirs Act) was originally enacted in New York in December 2019 to protect heirs of real property from being forced to sell their property at auction. The Act was most recently...more
In light of the current economic climate, real estate lenders and borrowers will certainly be communicating with one another frequently concerning potential loan modifications and accommodations. It is prudent for lenders to...more
Two recent decisions concerning title insurance illustrate that an insured’s negligence can result in an exclusion from coverage and that title insurers generally do not owe a fiduciary duty to their insureds....more
2/1/2023
/ Breach of Contract ,
Breach of Duty ,
Denial of Insurance Coverage ,
Dissolution ,
Fiduciary Duty ,
Foreclosure ,
Limited Liability Company (LLC) ,
Loans ,
Membership Interest ,
Mortgages ,
Negligence ,
Policy Terms ,
Popular ,
Purchase Agreement ,
Washington Mutual
In a decision rendered September 8, 2022, a three-judge panel for the United States Court of Appeals for the Second Circuit (the “Court”) vacated a February, 2021 decision by the United States District Court for the Southern...more
9/29/2022
/ Borrowers ,
Citibank ,
Clerical Errors ,
Conversion ,
Credit Agreements ,
Financial Institutions ,
Interest Payments ,
Lenders ,
Loan Agreements ,
Real Estate Financing ,
Restitution ,
Revlon ,
Syndicated Loans ,
Unjust Enrichment ,
Wire Transfers
On March 21, 2022, the Court of Special Appeals of Maryland (the “Court”) decided in Peterbilt of Baltimore LLC v. Capitol Gateway Properties, LLC that provisions of an option to purchase (the “Option”) pursuant to the...more