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A security agreement is not used to transfer any interest in real property (land/real estate), only personal property. The document used by lenders to obtain a lien on real property is a mortgage or deed of trust .
A good guy clause, typically found in rental agreements in New York City, is a provision that allows a tenant to be released from the liability of completing the agreed upon rental period, assuming the tenant vacates the rented space and leaves it in favorable condition.
Transactions where security interests are taken in real property are regulated not by Article 9, but by real property laws that vary among jurisdictions. However, the assignment or conveyance of a contract secured by real property may be regulated by Article 3 to the extent that the contract is a negotiable instrument. Both must be ...
Under a system that exists in New York and almost nowhere else in the country, tenants are often forced to pay the commission of a real estate agent before moving into an apartment, even if that ...
Due to the rise of real estate securitization in the 1990s and the shift from "lend to hold" to "lend to securitize," the majority of residential real estate transactions are now completed with uniform security instruments which are consistently described as "deeds of trust" so as to avoid confusion with true trusts or true deeds (i.e., true ...
But they were quickly reinstated following a lawsuit led by the Real Estate Board of New York. Brokerage firms estimate that roughly half of the city’s apartments require a tenant-paid broker fee.
On June 11, 2019, State Senate Majority Leader Andrea Stewart-Cousins and Assembly Speaker Carl Heastie announced that they had reached a "landmark agreement" on new rent laws. [6] Both houses of the New York state legislature passed the HSTPA on June 14, 2019, and Governor Andrew Cuomo signed the HSTPA into law later that day. [1]
The agreement between the Manhattan U.S. attorney's office, HUD, the EPA and New York City will strive to fix a host of issues in the nation's largest public housing system, now subject to ...
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