On January 22, 2021, several New York State Assembly Members reintroduced legislation (Bill No. A03139) that seeks to amend New York’s Real Property Law and Tax Law, New York’s Tax Law and New York’s Uniform Commercial Code...more
2/17/2021
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Uniform Commercial Code (UCC)
Construction loans with companion mezzanine loans raise a host of concerns that are unique to more standard ICAs between a mortgage lender and a mezzanine lender.
An intercreditor agreement (ICA) involving a construction...more
10/27/2020
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Construction Loans ,
Coronavirus/COVID-19 ,
Foreclosure ,
Intercreditor Agreements ,
Loan Transfers ,
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Mezzanine Lenders ,
Mortgages ,
Real Estate Market ,
Repurchase Options ,
Right To Cure ,
Uniform Commercial Code (UCC)
A recent court decision in New York found that current market conditions in the real estate market justify delaying noticing mezzanine real estate foreclosures until October 15, 2020.
A recent New York Supreme Court Order...more
A recent court order found that a mezzanine lender may conduct a UCC foreclosure sale despite a temporary suspension of judicial foreclosures in New York State.
A recent court order interpreting the scope of New York...more
Mezzanine lenders enforcing Uniform Commercial Code remedies that do not comply with applicable requirements may face economic losses, costly litigation and potential liability.
Mezzanine lenders have specific and limited...more