This class is for attorneys who will, or may, represent purchasers of Coop and Condo apartments. The class will address both contract issues the attorney should be aware of as well as due diligence that the attorney must conduct on behalf of the client. Specific issues to be addressed include time of the essence clause, delivery date issues, mortgage contingency clause, down payment and default clauses, review of Coop and Condo Offering plans, review of Coop and Condo Financial Statements, review of Coop Proprietary Lease, review of Coop Board minutes, and review of Coop or Condo's By-Laws. The class will also discuss the various federal, state and local taxes related to such a transaction.
This class is for any attorney who wants an in-depth understanding of the role of the title company and title search in a New York real estate transaction. It provides a comprehensive overview of the entire title process; what title insurance does, and does not, protect the insured against; an examination of the various searches the title company conducts; how to read a title report; detailed discussions of Schedules A and B of the title report; issues related to clearance of Schedule B title exceptions; survey matters including possible out of possession and adverse possession issues; the title company's role at the closing; and what you should expect from a title company.
Representing the Buyer: Coop and Condo Due Diligence and Contract Matters
Thursday, July 24, 2014
8:30 AM - 12:00
Bank of America
114 West 47th Street, 12th Floor (US Trust Bldg)
New York, NY 10036
Register now - Seats Are Limited!
John Bradbury, Esq.
National Law Institute
3 NJ + NY