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When a debtor defaults on a mortgage, the lender must commence an action for foreclosure within the statute of limitations. In New York, the statute of limitations is six years and it starts running upon the acceleration of the debt following a default in payment. Essentially, when a debtor defaults, the lender “accelerates” the mortgage … Read more
Generally, New York law provides that a company that buys the assets of another business is not liable for the seller’s pre-existing liabilities. However, there are several important exceptions to this rule. One of them is known as the de facto merger doctrine and it creates successor liability when the transaction between the purchasing and … Read more
In certain types of cases, a party may be able to sue in either state or federal court. That is because both courts may have “subject matter jurisdiction” over the case. There are requirements for suing in federal court. Subject matter jurisdiction refers to the requirement that a given court has the power to hear … Read more
Generally, courts will respect and enforce the terms of a contract. However, one exception to that rule involves situations where one party was coerced into signing a contract by the other party. Economic duress occurs when one side threatens to breach the agreement if the other party doesn’t accept the new terms. When it occurs, … Read more
Effective January 1, 2020, employers will have to pay any employee who does not make at least $35,568 per year overtime for any hours in excess of 40 hours worked in a particular workweek. This is because there will be new overtime rules in 2020. As a result of this change, employers must review how … Read more
If you plan to object to services of process in New York, you need to make sure you do it in a timely and proper manner. This blog post will teach you how
Real estate purchasers in New York almost always buy title insurance at the time of the transaction. However, a case decided by the New York Appellate Division, First Department on September 3, 2019 confirmed that even when title insurance is obtained, issues regarding title can still arise. In Akasa Holdings LLC v. 214 Lafayette House, … Read more
New York City (and various other counties throughout the State) now impose a requirement that all contractors doing home improvements must have licenses issued by the municipality where the work is to be performed. Indeed, in 2006, the NYC Administrative Code added Title 20, Chapter 2, Subchapter 22 which addresses home improvements and sets out … Read more
All landlords should know they cannot discriminate against those who are disabled. The New York Human Rights Law prohibits discrimination throughout the State on the basis of disability, including in housing situations. However, many landlords may not be aware of how broadly the law applies especially in light of a recent court decision protecting disabled … Read more
When a party sues to stop construction in New York State, it is long settled law that at some point the litigation becomes moot because of how long the construction has continued. Essentially, a court is no longer able to render a decision that would “effectively determine an actual controversy.” When the construction progresses to … Read more