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HTMLSublease Agreements within the Context of the Turkish Code of Obligations
Ece Yżlmaz; Erdem Erdem Law Office;
Legal Alert/Article
February 5, 2016
Lease agreements are amongst the most common types of agreements, organizing property usage, as regulated under the Turkish Code of Obligations numbered 6098 (“TCO”). Authority to sublet a leased property to third parties is one of the authorizations of the TCO granted to the lessee,...

 

HTMLTermination of Agreement under section 112 of the Condominium Act, 1998 - Not So Fast
Tammy A. Evans; Blaney McMurtry LLP;
Legal Alert/Article
February 4, 2016, previously published on January 12, 2016
In a precedent setting case, the Ontario Superior Court of Justice recently ruled that a board of directors of a condominium must secure the vote of a two-thirds majority of unit owners before terminating an agreement under section 112 of the Condominium Act, 1998 (the “Act”) where the...

 

HTMLU.S. Treasury Department Will Require Certain Title Insurance Companies and Their Agents To Report the Identities of the Ultimate Beneficial Owners of Entities Used To Buy Manhattan or Miami Residential Real Estate in All-Cash Purchases 
Shannon L. Bothwell, Jared E. Dwyer, Carl A. Fornaris, Robert J. Ivanhoe, Wendy Li; Greenberg Traurig, LLP;
Legal Alert/Article
February 2, 2016, previously published on January 15, 2016
On Jan. 13, 2016, the Financial Crimes Enforcement Network of the U.S. Department of the Treasury (FinCEN) issued Geographic Targeting Orders (GTOs) applicable to certain U.S. title insurance companies and their subsidiaries and “agents” (collectively, the Targeted Title Insurance...

 

HTMLCondominium Board Entitled to Recover Attorneys' Fees and Late Fees Even After Unit Owner Paid Past-Due Common Charges
Ganfer Shore LLP;
Legal Alert/Article
January 29, 2016, previously published on January 12, 2016
The governing documents of most condominiums and cooperatives provide that if an owner does not pay his or her common charges or maintenance on time, the board may impose additional charges such as late fees, and is entitled to be reimbursed for attorneys’ fees and legal expenses of...

 

HTMLAppeals Court Rejects Subcontractors' Attempt to Foreclose on Expired Mechanic's Liens
Ganfer Shore LLP;
Legal Alert/Article
January 29, 2016, previously published on January 13, 2016
A contractor that is not paid for construction or maintenance work on real property may file a mechanic’s lien against the property. The mechanic’s lien statute is a valuable tool for contractors because a valid mechanic’s lien becomes a lien against the property as well as a...

 

HTMLFinCEN Targets High-Value Real Estate Transactions in New York and Miami
Jodi L. Avergun, Nicholas E. Brandfon, J. Robert Duncan, Steven M. Herman, Joseph V. Moreno; Cadwalader, Wickersham & Taft LLP;
Legal Alert/Article
January 29, 2016, previously published on January 19, 2016
On January 13, 2016, the Financial Crimes Enforcement Network (“FinCEN”) announced that it had issued a Geographic Targeting Order (“GTO”) which will temporarily require certain title insurance companies to report the identity of natural persons who make...

 

HTMLCourt Holds Fraud Claim Against Sponsor to Be Preemted By Martin Act; Also Dismisses Indemnification and Contribution Claims
Ganfer Shore LLP;
Legal Alert/Article
January 29, 2016, previously published on December 15, 2015
A court has dismissed several claims brought by a Condominium Board of Managers against the Sponsor and individual members of the Sponsor, as well as cross-claims against the Sponsor by a co-defendant. Board of Managers of 111 Hudson St. Condominium v. 111 Hudson Street, LLC, Index No. 651959/2014,...

 

HTMLCourt Denies Residential Board's Request For Injunction Invalidating Budget and Condominium Board's Request For Injunction Granting Access
Ganfer Shore LLP;
Legal Alert/Article
January 29, 2016, previously published on December 14, 2015
In a recent litigation involving two Condominiums located in the same Manhattan building, each Board of Managers moved for a preliminary injunction against the other. The court denied the relief sought by both sides. OA Manhattan LLC v. Condominium Board of Managers of Cassa NY Condominium, 2015...

 

Adobe PDFChallenges in Conducting Cross-Border Real Estate Transactions Due to Differences in Legal Practices, Language and Culture - a Mexico Perspective
Adriana Reyes; Procopio, Cory, Hargreaves & Savitch LLP;
Legal Alert/Article
January 29, 2016, previously published on December 2015
Mexico is the United States second-largest export market just after Canada and its third-largest trading partner (after Canada and China). Thousands of cross-border transactions are conducted each day between the two countries, including many involving real estate investments. When participating in...

 

HTMLCooperative Board Authorized to Evict Tenant That Made Unauthorized Alterations and Failed to Comply With Stipulations
Ganfer Shore LLP;
Legal Alert/Article
January 29, 2016, previously published on January 10, 2016
An appellate court has authorized a Cooperative to evict a tenant who made unauthorized renovations to her apartment and failed to comply with a series of negotiated stipulations. 35 Jackson House Apartments Corp. v. Yaworski, 2015 N.Y. Misc. LEXIS 4681, 2015 N.Y. Slip Op. 51887(U) (App. Term 2d...

 


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