Blog2020-03-09T06:25:33+00:00

Blog

COMMERCIAL NONPAYMENT PROCEEDINGS AS OF JULY 6, 2020

As we noted in a blog post in early May 2020, in an effort to help those impacted by COVID-19 address their rent obligations, Governor Cuomo issued Executive Order 202.28, wherein the Governor ordered, among other things, that...

July 8th, 2020|

TENANT SAFE HARBOR ACT

On June 30, 2020, Governor Andrew Cuomo signed into effect the Tenant Safe Harbor Act, the aim of which is to help keep residential tenants in their homes following the COVID-19 pandemic by allowing only money judgments, and not evictions, for unpaid rent that comes due while restrictions are in place due to COVID-19 on businesses, public accommodations, and nonessential gatherings.

July 1st, 2020|

THE MERE DISCONTINUANCE OF A PRIOR FORECLOSURE ACTION DOES NOT DE-ACCELERATE THE MORTGAGE DEBT; EXPLICIT NOTICE OF DE-ACCELERATION IS REQUIRED

On June 3, 2020, the Appellate Division, Second Department in the case of Trust v. Barua, 2020 N.Y. Slip Op. 03095, reversed a decision by the lower court and held that the discontinuance of a prior foreclosure action did not, standing alone, de-accelerate the mortgage debt. Therefore, a subsequently filed foreclosure action was time-barred.

June 13th, 2020|

NEWLY ENACTED SECTION OF NYC ADMINISTRATIVE CODE SEEKS TO PROVIDE COMMERCIAL LEASE GUARANTORS WITH RELIEF

On May 26, 2020, Mayor Bill de Blasio signed into law Section 22-1005 of the NYC Administrative Code, which prohibits the enforcement of personal guaranties of New York City commercial leases involving COVID-19 impacted tenants. Significantly, the new law offers no relief to individual proprietors who execute commercial leases in their own names.

June 3rd, 2020|

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