Real Estate Blog

Business Practices

Important changes to New York’s Property Condition Disclosure Law

Hands explaining.

Beginning March 20, 2024, sellers of residential 1-4 family homes will no longer have the option to give purchasers a $500.00 credit in lieu of completing a property condition disclosure statement. The New York Real Property Law requires sellers of certain types of residential real property to complete a property condition disclosure statement and deliver … Read more

Corporate Transparency Act

Person using computer

The Corporate Transparency Act (“CTA”) was enacted January 21, 2021 and is implemented through regulations established by the Financial Crimes Enforcement Network (“FINCEN”), a bureau of the US Department of the Treasury. The regulations require “reporting companies” to report information about their beneficial owners to FINCEN to be stored in a secure, non-public database. Reporting … Read more