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Government may generally regulate land use in ways that diminish the market value of the regulated land, unless the regulation amounts to an unconstitutional taking under Penn Central Transportation Company v. City of New York, 438 U.S.104, or Lucas v. South Carolina Coastal Council, 505 U.S. 1003.
By Mark Hakim
On June 14, 2019, New York lawmakers approved, and Governor Cuomo signed, the “Housing Stability and Tenant Protection Act of 2019.” The Act contains a series of laws affecting all rentals within the State of New York, making permanent New York’s rent regulation laws, which proponents say will ensure that New York’s tenants are protected. However, as with any legislation, especially one that seems to have been enacted hastily, there are unintended and possibly quite adverse long-term consequences.
40-Year Lease Invalid
Cancellation of Satisfaction Denied
Questions About Meeting of Minds
Statute of Limitations Bars Foreclosure Action
Mortgage Acceleration Revoked
Deed Valid When Not Intended As Security for Mortgage Debt
Specific Performance Denied for Failure to Show Ability to Close
Award of Contingent Attorney’s Fees