Monthly Archives: September 2012

Why Deals Die and How to Avoid These Problems

Residential Real Estate Attorney Guide Real Estate Deal

It’s an unfortunate reality of the New York City marketplace that not all deals end up closing. But given the amount of work it takes to successfully market a property and find a willing buyer, just as much effort should go into ensuring that deal gets from the handshake to the closing table. Let’s start …


Second Homes and the 1031 Exchange

1031 Exchange Residential Real Estate Law Guide

A 1031 exchange can be used to defer capital gain taxes on the sale of property held for business, trade or investment. The guidelines for a successful exchange must be followed carefully or the IRS may disallow the exchange. I am often asked whether a property that is used by the owner as a vacation …


The Casual Landlord: Avoiding Tenant Problems Before They Start

Residential Real Estate Attorney Guide Landlord Tenant

Finding the perfect tenant can be challenging. Most landlord/tenant “situations” start out amicable, with each side excited about the prospect of the tenancy and with no intention of disputes. But don’t let that cloud judgement, a careful landlord will do her homework before opening the apartment to occupancy by someone who might not live up …


Gift Taxes And The Lifetime Exemption

Residential Real Estate Attorney Guide Gift Taxes

It’s very common in real estate deals for the buyer to get financial help from family members. But what about the gift taxes? Buyers inevitably ask this question, and often have incorrect assumptions about how it works. Who Pays?: Gifts are not income, and almost all cases it is the donor or the giver of …