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
Summer is quickly approaching, and you are looking to renovate your house. Perhaps you’ve already hired contractors to build an addition, extend your deck, renovate your bathroom or build a pool in your backyard. Depending on the type of work you have planned, your contractor may need to obtain permits. The failure to obtain proper … Read more
When is a closing date not a closing date? When it is set forth in a typical residential contract for the sale of a home. In New York, it is legally assumed that if a contract does not specify time of the essence, then it is not time of the essence. Typically, a residential contract … Read more
Due diligence is the investigation of a person or business. In the context of a commercial real estate transaction, the buyer uses the due diligence process to gather information about property to be acquired. This Note explains, from a buyer’s perspective, why due diligence is necessary, what materials to review and what to look for. … Read more
Countless issues to consider when entering into any lease and some very specific additional considerations when you are signing the lease to open a restaurant. This article doesn’t address all of those issues, but is limited to specific considerations when you intend to obtain a full, on-premises, retail liquor license (not simply a beer and … Read more