Judicial News

Supreme Court rules on DFS Regulation 208

Please be advised that on July 5th, Supreme Court Justice Eileen Rakower issued a ruling in favor of The New York State Land Title Association (NYSLTA) in its case against The New York State Department of Financial Services (DFS). The Court sided with the NYSLTA on every point effectively annulling Regulation 208. Justice Rakower stated […]

New Yonkers Transfer Tax Form

Effective immediately, Yonkers has a new Real Property Transfer Tax Form. This form can be found on Judicial’s website or click here for access.  It can be identified by the notation “REV. 07-2018” on the bottom left corner of the document.  Previous versions of this form will not be accepted by Yonkers.

FinCEN GTO

The Financial Crimes Enforcement Network (FinCEN), a bureau of The United States Treasury Department, has extended its existing Geographic Targeting Order (GTO) issued under United States Code Title 31 Section 5326. This order, effective as of May 21, 2018, authorizes the Treasury Department to collect information about certain transactions in specified geographic areas in furtherance […]

Design Center Leasing – A Hybrid Approach

By Richard J. Sobelsohn Richard J. Sobelsohn is vice-president/legal with Cohen Brothers Realty Corporation in New York, New York, an adjunct professor of law at Brooklyn, Cardozo, Fordham, and New York Law Schools, and chair of the Economics, Technology and Practice Methods Committee.   When discussing the nuanced leasing for design centers, one must first […]

FinCEN Extension & Update

FinCEN has extended the Geographic Targeting Order (GTO) which expired on August 22, 2017. The extended GTO is effective September 22, 2017 and expires March 20, 2018. The definition of a Covered Transaction remains the same except that, pursuant to Section II(A)(2)(iv) of the GTO a purchase made, at least in part, using currency or a […]

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