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Can a foreclosing plaintiff choose whom to name as a party defendant in a foreclosure action? In New York, in the absence of prejudice to the defaulting property owner, the answer is yes. Although a recent holding of New York’s Appellate Division, Second Department, tacitly suggests “no,” the case may not have addressed the actual controlling principles.
The COVID-19 pandemic is resulting in landlords and tenants closely reviewing a clause in their lease that was long considered unimportant boilerplate.…
By John G. Kelly
Assignment provisions in commercial leases are heavily negotiated and very important to both landlords and tenants. This article presents a brief overview of the assignment provision in commercial leases, both office and retail.
By Stewart E. Sterk
When does an immediately adjacent neighbor have standing to challenge a SEQRA determination?
By Peter Fass
Real estate syndication offerings often rely on Rule 506 of Regulation D to exempt such offerings from registration under the Securities Act. Rule 506 requires that, with certain limited exceptions, purchasers of the securities offered are limited to accredited investors. Amendments proposed by the SEC in December modify certain of the existing categories of accredited investors and create certain new categories.