On April 6, 2024, the New York State Bar Association (NYSBA) Task Force on Artificial Intelligence released its Report and Recommendations to the NYSBA House of Delegates, in which the Task Force examined the “legal, social, and ethical impact of artificial intelligence (AI) and generative AI on the legal profession.”  Through its examination of AI’s...Read More

Starting a Limited Liability Company (LLC) is a popular choice for many entrepreneurs due to its flexibility and the personal liability protection it offers. However, many new business owners overlook a critical component that is vital for both the smooth operation and the future success of the business: the operating agreement. What is an Operating...Read More

Form TP-584 is a Combined Real Estate Transfer Tax Return, Credit Line Mortgage Certificate, and Certification of Exemption from the Payment of Estimated Personal Income Tax.  This form is completed in order to comply with the requirements of the real estate transfer tax, the tax on mortgages as it applies to the Credit Line Mortgage...Read More

As we have discussed previously here, there are so many moving parts when it comes to a real estate transaction, on both the buyer’s and seller’s side. There are certain tasks that each party has to complete in order to close a transaction and a team of professionals that is helping them complete each task....Read More

Unequivocally, a home purchase is one of the greatest, largest transactions that any individual can endeavor to undertake in his or her lifetime.  For our first-time home buyers, it is daunting to enter into a transaction, saying, “I will pay $800,000.00 for this home, and here, in the meantime, you can hold an $80,000.00 deposit...Read More

On September and October 2023, we published a blog post regarding the Real Property Condition Disclosure Statement in New York. On September 22, 2023, Governor Hochul signed legislation that struck the portion of the statute permitting a seller to give a purchaser a credit of $500.00 in lieu of the Real Property Condition Disclosure Statement....Read More

After finalizing the contract of sale and any riders thereto, the next step in the home-buying process in New Jersey may involve conducting a home inspection and ascertaining what – if any – repairs you, as the buyer, will request that the seller address, by way of a repair or a credit. A home inspection...Read More

With the start of the busy real estate season right around the corner, we thought it would be a good time to talk again about the team that works together to get a buyer (and seller) to the closing table. Purchasing a home is one of the largest investments that people make in their lifetime....Read More

It is understood that a business entity, such as a corporation or a limited liability company, is directed and controlled by the officers and members thereof.  These are real people making real decisions guiding the entity’s actions. Yet, the individuals themselves enjoy the corporate protections afforded to them by virtue of acting through the corporate...Read More

When venturing into the realm of homeownership, the excitement of finding your dream home can sometimes overshadow the practicalities of the buying process. Among these, conducting a thorough property inspection stands out as a crucial step that should never be overlooked unless there is a specific reason that warrants waiving it. This blog post delves...Read More