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However, a security agreement may specify that it includes after-acquired property. If such a specification is included, then a pledge of "all automobiles owned by borrower" would include the neighbor's car if the borrower were to buy that car from the neighbor. In order for a security interest to attach to the collateral in the possession of ...
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.
The New York City Department of Citywide Administrative Services (DCAS) is a department of the New York City government tasked with recruiting, hiring, and training City employees, managing 55 public buildings, acquiring, selling, and leasing City property, purchasing over $1 billion in goods and services for City agencies, overseeing the greenest municipal vehicle fleet in the country, and ...
A security interest becomes enforceable against the collateral as soon as it attaches. Attachment requires three things: (i) that the debtor have rights in the collateral or the power to convey rights; (ii) that value be given; and (iii) in most cases, that the debtor have authenticated a security agreement that adequately describes the collateral.
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 ...
A secured transaction is a loan or a credit transaction in which the lender acquires a security interest in collateral owned by the borrower and is entitled to foreclose on or repossess the collateral in the event of the borrower's default. The terms of the relationship are governed by a contract, or security agreement. [1]
Born in the Bronx, the billionaire real estate developer could hardly have a more different profile from those of the American diplomats who usually craft complicated international agreements ...
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 ...