On December 15, 2020, Governor Cuomo signed into law changes to the New York power of attorney (“POA”) law, which will take effect on June 13, 2021. These changes will not impact the validity of an existing POA form and statutory gift rider (“SGR”) if it is executed in accordance with the provisions of the current law.» Read More

On December 28, I wrote the blog post, “Housing Cooperatives and PPP Loans: Is It Time To Rejoice?” regarding the significant and retroactive changes to the eligibility and administration of the Paycheck Protection Program (“PPP”) through the Consolidated Appropriations Act, 2021 (“CAA”) and “Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act.”» Read More

This has been updated on December 31, 2020: “Cooperatives Now Eligible for New PPP Loans”

The Consolidated Appropriations Act, 2021 (“CAA”), passed by Congress on December 21, 2020, and just signed by the President, should “spark joy” for housing cooperatives (“co-ops”).» Read More

New York Secretary of State Rossana Rosado announced on Friday, September 13, that the Department of State’s Division of Licensing has issued a Guidance for real estate professionals regarding the Statewide Security and Tenant Protection Act of 2019 (the Act), which was signed into law by Governor Cuomo on June 14, 2019, as we discussed in a previous blog: “Housing Stability and Tenant Protection Act of 2019: Changes for Cooperatives.”» Read More

On June 14, 2019, the New York State legislature passed, and the governor signed, the Housing Stability and Tenant Protection Act of 2019 (the “Act”).  While the law was directed primarily toward rent controlled and rent regulated housing, it includes substantial changes to the New York State Real Property Law (the “RPL”) and the Real Property Actions Procedure Law (the “RPAPL”), which affect non-regulated housing, including cooperatives.» Read More