A 1031 exchange is a legal procedure that can be used to avoid paying taxes on gain that is realized from the sale of certain real estate. If real estate is held by a business for business purposes, or if it is held for investment, income taxes have to be paid on any gain from…
When most people get traffic tickets for speeding, they may be irritated at the expense and the hassle but normally aren’t extremely disturbed about the ticket. However, if you get a ticket for reckless driving in New York, it should be taken extremely seriously. If you are convicted of reckless driving, you will have a…
A Certificate of Relief from Disabilities in New York is a certification for someone who has been convicted of a crime in New York. The Certificate will help you get jobs, housing and other benefits in New York even though you have a criminal record. The Certificate provides evidence that you have been rehabilitated. A…
If you are getting married, you may have considered a prenuptial agreement. You may be hesitant to bring up the issue, fearing your partner may become angry or believe that you are planning a divorce before the marriage even occurs. However, prenuptials are simply good financial planning. About one-third of first marriages end in divorce.…
Yes, it may be discriminatory for your New York landlord to refuse to allow you to move into a larger apartment to accommodate your disability. In a recent case, a disabled tenant made several requests to the Housing Authority of Baltimore City (HABC) over a four-year period to be transferred to a four-bedroom unit that…
If you have an employee in a competitive position, you may have considered asking the employee to sign a non-compete. A non-compete agreement is a contract in which the employee agrees not to work in a particular industry, or start a business in a particular industry, for an established period of time. They are usually…
RESPA stands for the Real Estate Settlement Procedures Act. It is a federal law passed in 1974 to deal with abusive practices in the real estate settlement services industry. Prior to the passage of RESPA, many parties, including lenders, mortgage brokers, attorneys and appraisers, were making payments to outside parties through fees for customer referrals,…
You will lose your conditional license if convicted of any moving violation or of driving at any time or in any place that the conditional license restricts. In these cases, you may continue to attend the Drinking Driver Program (DDP) but are prohibited from driving. Upon completion of the program (without further incident), your full…
A buy-sell agreement is a binding contract between co-owners that controls when owners can sell their interest, who can buy an owner’s interest, and what price will be paid for that interest. There are many situations these agreements can be used in, including when an owner retires, becomes disabled, dies, retires or divorced. In some…
That will depend on how definite and unequivocal your expression of financial difficulties was. In a recent New York case, before the term of the 15 year commercial lease was to begin, the New York tenant advised the landlord that it was experiencing financial difficulties. By an email message, the tenant offered the landlord certain…
