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Commission Agreements Conditioned Upon Verbal Agreements of Sale

The Appellate Division, Second Department recently issued an interesting decision concerning brokerage commissions in Regency Homes Realty Group, Inc. v. Leo and Laura, LLC, 155 A.D.3d 1075, 1077 (2d Dept. 2017). The case illustrates that, although a brokerage agreement can condition commission payments upon the seller and buyer reaching a verbal agreement of sale, there is often difficulty in proving that the parties reached a verbal agreement on the essential terms of a contract of sale.

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New Legislation for the Town and Village of Southampton

As of December 31, 2022 the Town of Southampton will discontinue its partial real property tax exemption program which is now available to eligible first-time home buyers of newly constructed or substantially altered and renovated homes.

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Collecting Unpaid Commissions – The Law Can Help You

One of the occupational hazards faced by brokers is the fight to recover a commission after a transaction has been successfully completed. When a seller or landlord fails to pay the broker’s fee, the New York Real Property Law and, under some circumstances, the Lien Law, may offer protection, as well as leverage to help recover that which is owed.

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All Mechanic’s Lien Waivers Are Not Created Equal

Mechanics’ lien waivers are intended to prevent construction contractors or material suppliers from filing a lien in connection with work for which an owner has already made payment. An effective waiver should protect the owner by requiring the contractor to: (i) acknowledge receipt of payment for work completed; and (ii) release the owner from claims, waiving any future right to file a mechanic’s lien against the property.

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NY’s Highest Court Rules Private Posts on Facebook are Fair Game in Discovery

Long before the digital age and proliferation of social media platforms like Facebook and Twitter, Marshall McLuhan mused, “publication is a self-invasion of privacy.”  Clearly, Professor McLuhan foresaw the pitfalls that can be associated with sharing too much information. Now, the New York Court of Appeals, the highest court in the state, has unanimously ruled that Facebook users can be ordered to disclose relevant posts and photographs, even where the user’s account is private.

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New York State Creates Nation’s First Air Corridor For Unmanned Aerial Vehicles

New York State has officially created the Nation’s first “air corridor” where unmanned aerial vehicles can safely fly beyond line of sight for testing and development. Typically, FAA regulations restrict drone operations to line-of-sight only, which requires the drone to be visible by the pilot at all times. However, drones flying in the air corridor may now operate beyond the pilot’s visual line of sight drastically improving their utility and range of operational use.

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What You Need To Know About The New Tax Law

HIGHLIGHTS OF THE TAX CUTS AND JOBS ACT

The Tax Cuts and Jobs Act (the “Act”), signed into law on December 22, 2017, provides substantial (but mostly temporary) changes to the tax code. This article is a summarized review and discussion of the key provisions of the new law. This article is designed to provide an introduction to the law and to supply some information to you (the taxpayer) before meeting with your attorney, tax advisor, investment manager and insurance agent for recommendations and before changing or implementing any financial, tax, or estate planning changes.

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