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Damage Mitigation Under the HSTPA
When the state legislature enacted the Housing Stability and Tenant Protection Act of 2019 (HSTPA), much of the statute's focus was on increased protection for rent regulated tenants. But the statute also includes a number of significant provisions that apply to market rate tenants. Among those are obligations imposed on landlords with respect to security deposits and a requirement that residential landlords mitigate damages, contrary to the longstanding New York rule. In 14 East 4th Street Unit 509 LLC v. Toporek (NYLJ 1/6/22, p. 18, col. 1), the First Department became the first appellate court to construe these provisions.
The Case
In October 2017, the owner of a 10-room residential condominium unit in NoHo rented the unit to tenant for a two-year term at a rent of $17,500 per month for the first year and $18,000 per month for the second year. In August of 2019, the parties entered into a one-year renewal lease Tenant from November 2019 to October 2020 at a lower rent of $17,000. The renewal lease was executed after the effective date of the HSTPA. Tenant provided a $17,000 security deposit and the lease provided that the tenant would not use the security deposit towards rent.
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Beach Boys Songs Written Decades Ago Triggered Current Quarrel With Lawyers
There's current litigation in the ongoing Beach Boys litigation saga. A lawsuit filed in 2019 against Nevada residents Mike Love and his wife Jacquelyne in the U.S. District Court for the District of Nevada that alleges inaccurate payment by the Loves under the retainer agreement and seeks $84.5 million in damages.
Major Differences In UK, U.S. Copyright Laws
This article highlights how copyright law in the United Kingdom differs from U.S. copyright law, and points out differences that may be crucial to entertainment and media businesses familiar with U.S law that are interested in operating in the United Kingdom or under UK law. The article also briefly addresses contrasts in UK and U.S. trademark law.
Strategy vs. Tactics: Two Sides of a Difficult Coin
With each successive large-scale cyber attack, it is slowly becoming clear that ransomware attacks are targeting the critical infrastructure of the most powerful country on the planet. Understanding the strategy, and tactics of our opponents, as well as the strategy and the tactics we implement as a response are vital to victory.
The Article 8 Opt In
The Article 8 opt-in election adds an additional layer of complexity to the already labyrinthine rules governing perfection of security interests under the UCC. A lender that is unaware of the nuances created by the opt in (may find its security interest vulnerable to being primed by another party that has taken steps to perfect in a superior manner under the circumstances.
Transfer Tax Implications on Real Property Leases
The real property transfer tax does not apply to all leases, and understanding the tax rules of the applicable jurisdiction can allow parties to plan ahead to avoid unnecessary tax liability.