Judicial News

NYSLTA Title Insurance Compliance FAQs

  The New York State Land Title Association (NYSLTA) is a trade association representing the interests of persons and companies actively engaged in the title insurance industry in New York State. The NYSLTA is devoted to advancing the interests of all those involved in abstracting, examining or insuring title to real property.  Our work benefits […]

New Law – Defense of Lack of Standing Not Waived

New Law – Section 1302-A of RPAPL Defense of Lack of Standing Not Waived Section 1302 of the RPAPL has been amended to include a new sub-section 1302-A. The result of the revised law is to prohibit a defendant from waiving the defense that the plaintiff lacks standing to bring the foreclosure action. This prohibition […]

Re: New York Insurance Regulation 208

In October 2017, the New York State Department of Financial Services (“NYSDFS”) published Regulation 208, Title Insurance Rates, Expenses and Charges, which became effective on December 18, 2017. In July 2018, the Supreme Court ruled in favor of the NYSLTA, invalidating Regulation 208 in its entirety. After two separate appeals, on December 26, 2019, the Appellate […]

Update to Law Requiring Full Disclosure of LLC Members

  This is an update to a prior notice regarding Tax Law Section 1409 and the requirements involving transactions where the purchaser or seller is a Limited Liability Company (LLC).   New York State has recently amended their website by removing “condominium units” from property types that are required to disclose all “Natural Persons” associated […]

New Law Requires Full Disclosure of LLC Members

New Tax Law Section 1409 Requirements for TP-584 and NYC RPT Forms The New York State Legislature and New York City Council recently adopted provisions to Section 1409 of the New York State Tax Law and Section 11-2105 of The New York City Administrative Code. The provisions apply to all transfers of 1-4 family dwellings […]

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