Real Estate Law

Legal Guidance for Property Transactions in New York

Whether you are buying real estate for yourself, selling it on behalf of a business, or leasing your commercial property to a long-term tenant, it is important to have the help of an experienced real estate attorney. At the New York firm of Klapper & Fass, we have handled purchases and sales of residential homes, commercial properties, condos, and co-ops as well as commercial and residential leasing agreements. We can help you avoid problems with your real estate matter by helping you identify the problems that cause transactions to fail and result in costly litigation. We can draft clear, precise contracts for sales with carefully defined terms, or we can review agreements to make sure you know your rights and responsibilities.

Handling the Sale of Residential Real Estate

The purpose of getting the best legal representation in purchasing or selling a home is to give you the peace of mind that before closing there will be no surprises and that after the transaction is complete there will be no on-going issues.

The only way to insure such peace of mind is to have an experienced real estate attorney draft or review a contract of sale that reflects the financial deal you have reached with your seller or buyer and protects you against unwanted consequences.

Some of the most important issues which your contract of sale should address are an adequate mortgage finance contingency; identifying any possible impediment to getting your property purchased or sold, such as title defects, encroachments, or liens; establishing when the closing has to take place and under what conditions it can be extended, and what happens if your seller or buyer fails to perform; and determining who has to perform any work to the property before closing in order that it complies with law or to remove unacceptable conditions, such as insect infestations or the elimination of toxic or hazardous substances.

A special concern for sellers of residential property in this state is the New York Property Condition Disclosure Act, which requires sellers of residential real property to complete a standardized disclosure statement before the buyer signs the final purchase contract. For purposes of this law, residential real property is a 1-4 family dwelling that is used as a home or residence or is intended for that use. The disclosures that a seller must make include any known defects related to environmental, structural, and mechanical systems and services. Certain property transfers are exempt from this requirement, such as transfers ordered in a divorce proceeding or a transfer to a lender to satisfy a mortgage. The law does not cover condominiums or co-ops.

Commercial Leasing

Entering into an appropriate and affordable office lease may be one of the most important decisions and legal documents your business undertakes. Our attorneys have handled many commercial leases for business landlords and tenants with the benefit of the particular expertise and experience we have had as seasoned litigators in the field of commercial lease disputes. Some of the most important issues are pre-lease improvements and work by the landlord, tax and common area charges and escalations, electricity clauses, assignment and subletting, repairs and structural changes, HVAC clauses, use clauses, and default provisions. Getting the language right and protecting the client from unwanted liability is the goal of our team.

Retain an Experienced New York Attorney for Your Real Estate Needs

The property lawyers at Klapper & Fass handle all types of real estate transactions from their New York offices, including both sales and purchases of residential and commercial properties as well as commercial leasing. We serve the five boroughs of New York City and the surrounding counties of Westchester, Rockland, Dutchess, Orange, Nassau, and Suffolk. Contact us at 914.287.6466 or via our online form.