Since the start of the COVID-19 pandemic, borrowers and lenders alike have sought clarity regarding the permissibility of UCC foreclosure sales in the midst of the ongoing pandemic and the resulting economic fallout, as...more
3/23/2021
/ Administrative Orders ,
Appellate Courts ,
Borrowers ,
Coronavirus/COVID-19 ,
Foreclosure ,
Irreparable Harm ,
Mezzanine Lenders ,
NY Supreme Court ,
Preliminary Injunctions ,
Real Estate Market ,
Uniform Commercial Code (UCC) ,
Valuation
The Rent and Mortgage Cancellation Act of 2020, introduced on July 10, 2020 by Assemblymember Yuh-Line Niou (D) and Senator Julia Salazar (D), proposes to cancel residential rent payments and mortgages for small homeowners...more
The Coronavirus Aid, Relief, and Economic Security Act (commonly referred to as the “CARES Act”) was enacted on March 27, 2020. The CARES Act is a nearly $2 trillion stimulus package aimed at combating the economic impact...more
On Monday, July 15, 2019, a group of industry trade associations and building owners filed a federal lawsuitnaming the City of New York, Rent Guidelines Board (RGB), and a number of state and local officials as defendants,...more
New York State has made changes to the State real estate transfer taxes that will apply to conveyances occurring on or after July 1, 2019. The changes generally increase the effective tax rates for certain real estate...more
Lenders risk losing collateral and credit support and other adverse results if provisions in new loan documents restricting merger and sale of assets are not properly drafted following a recent change in Delaware law...more