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On June 14, 2023, the Second Department decided Walsh v Ocwen Loan Servicing, LLC. The court, with little fanfare, appeared to rule that cooperative apartment owners are saddled with an unavoidable risk of loss. That is, if a lender alleges that the owners have defaulted, and then conducts a nonjudicial foreclosure sale, the former owners are left with few remedies. Regardless of whether the owners were truly in default, and regardless of whether they were notified of the sale, they can lose their home — for good.
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By New York Real Estate Law Reporter Staff
Co-Op Purchaser Not Entitled to Cancel Contract
Stipulation of Settlement Did Not Foreclose Warranty of Habitability Claim
Questions of Fact About Mitchell-Lama Succession Rights
By New York Real Estate Law Reporter Staff
Taking Was for a Public Purpose and Failure to Comply With Public Hearing Requirement Did Not Invalidate Taking
By New York Real Estate Law Reporter Staff
Fact Questions About Expansion of Nonconforming Use
Subdivision Improperly Classified As Type II Action Under SEQRA
ZBA Entitled to Approve Permit for Building Larger Than One Depicted In Approved Site Plan
By New York Real Estate Law Reporter Staff
Tenant’s Early Termination Entitled Landlord to Rent
Questions of Fact About Landlord’s Intention to Convey Leasehold to Individual
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