Knowledge Library

Detecting and Avoiding Short Sale Fraud

Short sales are usually legitimate transactions that serve the interests of multiple honest parties, including lenders, borrowers and buyers.  But enter dishonest parties—sometimes with a cast of accomplices—and you have perfect recipe for fraud.  This fraud is common enough to generate its own name: flopping. A...

Deeds in Lieu of Foreclosure

By Alan Doran, General Counsel, OneTitle National Guaranty Company Many homeowners facing foreclosure who determine that they cannot afford to stay in their home turn to a Deed in Lieu of Foreclosure (“DIL”). This option allows the owner to avoid foreclosure and sell or walk away...

Keeping child and spousal support liens from derailing your transactions

The list of issues that can derail an otherwise simple real estate transaction—costing buyers, sellers, attorneys and lenders time, money and, possibly, a dream home—is long. While child and spousal support may not be the first thing to come to mind when you think of...

Purchasing a Building with a Party Wall

When considering a purchase of a building that abuts another building, it is critical to understand whether the supporting walls are independent or “party” walls. Many adjoining buildings built in New York before 1930 employed party walls. An owner of a building with party walls...

Buying Property from Nonprofits

In today’s competitive New York real estate market, buyers are looking for any possible edge. Developers and investors are speaking with nearly every owner of underutilized property, including nonprofits and religious organizations. But completing a transaction with a nonprofit or religious organization is difficult, and...

Buying Foreclosed Property in NYC

The pursuit of a good deal at a foreclosure auction is not for the faint of heart. First, despite the old adage, you almost certainly will have to judge a book by its cover since you won’t get a glimpse of the interior until after...