Debbie Baum | REBNY Legal Question
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REBNY Legal Question

Legal Line Question: Unsold Shares

Question What are the characteristics of Unsold Shares in a cooperative housing corporation and who may be considered a Holder of Unsold Shares? Answer Unsold Shares in a cooperative housing corporation (a “Co-op”) are shares in a Co-op that, from the time of the conversion…

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17 May 2018 Posted by Debbie Baum in REBNY Legal Question no comments

1031 Exchanges Under the New Tax Laws

Question What affect has the recently passed Tax Cuts and Jobs Act had on 1031 Exchanges? Answer The recently passed Tax Cuts and Jobs Act has preserved 1031 exchanges for real property but has completely eliminated 1031 exchanges for personal property. Under the new law,…

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22 Mar 2018 Posted by Debbie Baum in REBNY Legal Question no comments

Temporary Partitions

Question I am a licensed real estate salesperson and I am representing a prospective tenant who would like to install a temporary partition in a New York City apartment. Can the tenant install the temporary partition in her apartment? Answer There are several New York…

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27 Apr 2017 Posted by Debbie Baum in REBNY Legal Question no comments

Condominiums and Flip Taxes

Question I am representing the owner of a condominium and she is considering selling her unit. The condominium board has just implemented a flip tax (the “Flip Tax”). I have only previously seen co-ops impose a Flip Tax. May a condominium board legally impose a…

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09 Apr 2017 Posted by Debbie Baum in REBNY Legal Question no comments

Floor Coverings

Question I am a licensed real estate salesperson and I represent a tenant, who has complained about excessive noise coming from the rental apartment directly above hers. Is there a law in New York City that requires a tenant to cover at least 80% of…

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07 Apr 2017 Posted by Debbie Baum in REBNY Legal Question no comments