Judicial News

UCC Name Verification

On December 17, 2014, Sub-Part 1 of UCC Section 9-503 titled, “Name of Debtor and Secured Party” was amended in order to more fully explain how the Debtor ‘s name should appear on a UCC-1 Financing Statement.  By conforming to the statute, a lender will now know that a UCC-1 Financing Statement has been properly […]

Real Estate Digest – May 2015

The latest issue of Real Estate Digest has arrived. Click here This months issue: Tight Inventory Brewing up Summer Bidding Wars So Much for Downsizing Single, Female Baby Boomers Are Confident and Buying Energy Efficiency Tops Housing Concerns First-Time Buyers Perplexed as Entry-Level Homes Dry Up Ten Metro Areas Attracting Gen Xers Multifamily Market Developers Optimistic FHA Mortgage Premiums […]

Mortgage Tax Refund

As it is the middle of tax season, it seems appropriate to mention an underutilized provision of the Tax Law that could result in a mortgage tax refund. There is a New York State income tax credit against the paid mortgage tax.  See: Tax Law, Article 22 Personal Income Tax. Properties that qualify for a […]

Increased Nassau County Recording Prices

TAKE JUDICIAL NOTICE Commencing on January 14, 2015, Nassau County will require verification of the Section, Block, and Lot on all of the following instruments: Deeds Mortgages Satisfactions Consolidations Any modification of the above instruments Nassau does not require this verification for the following: Powers of Attorney Releases of State Tax Liens Building Loan Agreements […]

Real Estate Documents Turn Green

  By Richard J. Sobelsohn Richard J. Sobelsohn is group director of Financial Practice Area Modules for LexisNexis’s Lexis Practice Advisor® in New York, New York, and the Chair of the Real Property Economics, Technology and Practice Methods Committee.  Richard practiced law for more than 16 years, mainly in the area of real estate and […]

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