Can the seller pay closing costs? A real estate attorney weighs in In real estate, one of the most common misconceptions is what closing costs are. Many buyers and sellers ask themselves this question: Does the seller have to pay closing costs? Yes, but there are some important details here. Our New York real estate attorneys explain what is and isn't permitted based on the type of loan, what is meant by seller-paid closing cost and what to know before making or considering a request for selle...
What Are the 3 Types of Property Law and Property Rights?Property law inside the United States governs how property is owned, used, and transferred. The three major kinds of assets law are Real Property Law, Personal Property Law, and Intellectual Property Law.Do You Need a Real Estate Attorney?If you need legal guidance for a real estate transaction or property dispute in New York, schedule a FREE consultation with Moshes Law, P.C. today.CONTACT US NOWWhat Are the 3 Main Types of Property Law?T...
Common Quitclaim Deed Mistakes and How to Avoid Them When transferring property ownership, many people look to a quitclaim deed as a fast and reputedly truthful answer. However, as our Quitclaim Deed Attorneys at Moshes Law often warn, this simple document can be riddled with complexities if not dealt with well. Agreeing that property transfers are the most important life decisions, you want the process to be smooth and stress-free. The promise is that this article will help you to know the com...
What are my rights if my name is on a deed but not the mortgage? Understanding the difference between being listed on the deed and being responsible for the mortgage is crucial when determining your legal rights and financial obligations. If your name is on the deed but not the mortgage, you legally own the home—but you may not be liable for repaying the loan. At Moshes Law, we regularly help clients resolve these often-overlooked issues of ownership and liability in New York real estate.Two sp...
Forged Signature on a Loan Modification: What It Means and What to Do A forged signature on a loan modification is fraud — the agreement is legally unenforceable. However, the forgery must be proven. If you suspect your signature was forged on a mortgage document, acting quickly and retaining an experienced forgery attorney is critical to protecting your home and finances. AUTHOR YURIY MOSHES, ESQFounding Member of Moshes L...
New York's New Pied-à-Terre Tax: What Is It and What Does It Mean for the City? New York has done something it has talked about for over a decade — it has finally passed a pied-à-terre tax. On May 28, 2026, Governor Kathy Hochul signed the 2026–2027 New York State Budget into law, and tucked inside it was a measure already reshaping conversations across the city's luxury real estate market: an annual surcharge on high-value residential properties that are not used as a primary residence.I...
What Happens When a Seller Breaches a Real Estate Contract Buying a home is one of the most significant financial decisions a person can make. In markets like New York and New Jersey, real estate transactions move quickly, and buyers often assume that once a contract is signed, the deal is guaranteed.However, in practice, a breach of real estate contract by the seller can still occur between contract signing and closing. When this happens, buyers may face financial losses, delays, and legal unc...
Partition Action vs Buyout in New York: Which Option Is Better When co-owners disagree over a property in New York, the conflict usually reaches a point where one major question must be answered: should one owner buy out the other, or is a partition action the better solution?This situation is common in inherited homes, jointly purchased investment properties, and real estate owned after divorce or family disputes. In many cases, both owners have equal rights to the property, but completely dif...
Can You Sell Your Share of a Jointly Owned Property in New York? Yes, you can usually sell your share of a jointly owned property in New York without the other owner’s permission. However, while the law allows it, the process is rarely as simple as many people expect.Co-owned properties often create legal and financial complications—especially when owners disagree about selling, living arrangements, expenses, or future plans. In some situations, one owner wants to move on while the other p...
What Are Your Rights If You Own 50% of a Property in New York? Owning 50% of a property in New York gives you a strong legal position—but it doesn’t give you full control. In practice, equal ownership often creates a situation where both owners have rights, yet neither can make major decisions alone.This becomes clear in real-life scenarios. One owner may want to sell, while the other prefers to hold. One may want to live in the property, while the other sees it as a long-term investment. ...
Partition Action Timeline in New York: Step-by-Step Process, Delays & How to Speed It Up Most articles will tell you that the partition action timeline New York falls somewhere between 6 months to over 2 years.But that answer alone doesn’t explain what actually happens during that time—or why some cases move faster than others.In reality, how long a partition action takes depends on several factors, including court backlog in NYC, disputes between co-owners, financial complications,...
What Is a Partition Action in New York and How Does It Work? A partition action in New York is a legal process that allows a co-owner to ask the court to divide or sell a jointly owned property when there is a dispute. In most cases, especially in New York City, the court orders a sale of the property and distributes the proceeds based on ownership shares. AUTHOR YURIY MOSHES, ESQFounding Member of Moshes Law, P.C.During hi...
Can a Co-Owner Force the Sale of a Property in New York? (NYC Legal Guide 2026) Yes, a co-owner can force the sale of a property in New York. If co-owners cannot agree on what to do with the property, one owner can take legal action and ask the court to order a sale so that each party receives their fair share.In New York real estate law, co-owners have equal rights to the property, and courts can intervene to ensure a fair outcome. ...
Should Foreign Buyers Use an LLC to Purchase Property in NYC? Foreign nationals continue to invest in New York City real estate for stability, rental income, and long-term asset diversification. However, one structural decision can significantly impact tax exposure, liability, privacy, and resale strategy:Should the property be purchased in personal name or through a New York LLC?The answer depends on estate tax risk, property type, financing method, and long-term exit planning. For high-...
How Foreign Buyers Finance NYC Real Estate in 2026 New York City remains one of the most globally capitalized property markets in 2026. International buyers from Latin America, Europe, the Middle East, and Asia continue acquiring Manhattan and Brooklyn residential assets for capital preservation, currency diversification, and long-term appreciation.While many foreign investors transact in cash, a growing percentage strategically use leverage. The foreign national mortgage NYC market has m...
Taxes Foreign Buyers Pay When Purchasing NYC Property (2026 Complete Guide) Buying property in New York City as a non-U.S. resident is fully legal and remains one of the most stable long-term investment strategies globally. However, understanding the taxes foreign buyers pay when purchasing NYC property is critical before signing a contract or wiring escrow funds.Before estimating total transaction expenses, investors should also review NYC closing costs for foreign buyers, since taxes re...
NYC Closing Costs for Foreign Buyers: Complete Breakdown for Condos & Co-ops in 2026 Purchasing real estate in New York City involves several costs beyond the property price, and international buyers often need a clear understanding of NYC closing costs for foreign buyers and how these expenses work. In most transactions, closing costs typically range from approximately 1.5% to 6% of the purchase price, depending on property type and financing.Understanding these costs early helps buye...
Do Foreign Buyers Need a Real Estate Attorney in NYC? Legal Requirements Explained New York City is one of the world’s most attractive real estate markets for international investors, offering strong long-term appreciation and global ownership prestige. However, the NYC property purchase process is highly legal-driven, with complex contracts, regulatory compliance requirements, and attorney-managed closings.Because of this, many international investors ask: Do foreign buyers need a real es...
NYC Co-op Boards Are Tougher in 2026 — How Buyers Can Get Approved Buying into a New York City co-op has never been simple — but in 2026, many buyers are discovering that co-op boards are enforcing stricter financial and legal requirements, reviewing applications more closely, and rejecting more deals than ever before. Factors like higher mortgage rates, insurance volatility, and slower sales volume have made boards more conservative, prioritizing stability over speed.For first-time buyer...
Who Pays Closing Costs in NYC? (2026 Updated Guide) When buying or selling a home, it’s easy to focus on price negotiations, mortgage approvals, or inspections—but many people forget about one major factor: closing costs.These fees can significantly impact your bottom line — especially in New York City, where transaction costs are among the highest in the country.A common question we hear at real estate closings is:Who pays closing costs in NYC-buyer or seller?The truth is, both parties u...
Office-to-Residential Conversions in NYC: How 2026 Housing and Zoning Changes Will Impact Residents New York City is facing one of the most severe housing shortages in decades. According to recent Census and HUD data, the city needs over 500,000 additional units to meet demand. At the same time, NYC is experiencing record-high office vacancies, with REBNY reporting that 2024–2025 vacancy rates continue to exceed 20% in many commercial zones.This imbalance—too many empty offices and not en...
Buying Property in NYC & NJ – Complete Step-by-Step Guide for 2026 Buying a home in New York City or New Jersey can feel overwhelming. With so many options—condos, co-ops, townhouses, or detached homes—plus the complex legal and financial steps, it’s easy to get lost. This guide shows you exactly how to determine what kind of home you can afford, step by step, from evaluating your finances to closing on your dream property. By the end, you’ll know how much house you can realistically buy, h...
Top Bankruptcy Myths That Should Bite the Dust – Once and For All Even in 2025, the word bankruptcy still makes many people nervous. Rising debt, inflation, and job insecurity have caused more individuals and small businesses to seek financial relief. Yet, fear and misinformation often stop them from taking the right step toward recovery.The truth is simple: bankruptcy isn’t the end — it’s a new beginning. With the right understanding of bankruptcy laws in New York and proper legal guidan...
How will NYC’s City of Yes Housing and Zoning Plan Impact Residents? The City of Yes for Housing Opportunity (often shortened to City of Yes housing) is a sweeping new initiative in New York City aimed at reforming zoning, increasing housing supply, and boosting affordability across neighborhoods. This “City of Yes NYC” plan is part of a larger three-pronged strategy under the “City of Yes” umbrella, which also addresses carbon neutrality and economic opportunity.The goals are straightforw...
Zillow on ChatGPT: What to know about the new AI real estate app In today’s fast-paced real estate market, buyers and sellers want answers fast — and Zillow’s newest innovation delivers exactly that. The Zillow ChatGPT app, developed in partnership with OpenAI, introduces a smarter way to search for homes and make real estate decisions.Now, instead of scrolling through multiple websites or apps, you can simply chat your way to your next property. Ask ChatGPT to “show homes for sale in Broo...
Affordable Housing in 2025: Best Secondary Cities to Buy a Home The search for an affordable place to live in the U.S. has never been more challenging. With rising home prices in major metropolitan areas, many prospective buyers are exploring secondary cities where housing is still affordable, quality of life is high, and opportunities for growth abound.If you’re looking for a cheap place to live in the U.S. or one of the best places to buy a house in 2025, understanding these emerging mar...
How much does closing on a home cost in New York City? Closing on a home in New York City comes with more than just the purchase price—you’ll also face significant closing costs. These expenses include attorney fees, transfer taxes, title insurance, and co-op or condo charges, which together can add up to tens of thousands of dollars. Unlike in many other states, New York’s unique real estate market and tax structure make closing costs especially high for both buyers and sellers.That’s why unde...
What will my closing costs and fees be with a typical real estate attorney? If you’re buying or selling real estate in New York, chances are you’ll need the services of a real estate attorney to help navigate the legal complexities of the transaction. One of the most common questions clients ask is: How much will a real estate attorney cost me at closing? The answer depends on a few factors, including whether you're the buyer or seller, the type of property, and how complex the transaction...
Quit Claim Deed Loopholes in New York: What You Need to Know Before Signing When it comes to transferring property in New York, a quit claim deed is often seen as a simple and inexpensive option. However, this document carries risks many don’t fully understand. While it can be a useful legal tool, several quit claim deed loopholes may leave parties vulnerable to fraud, financial loss, or disputes over ownership.In this article, we’ll break down the lesser-known risks and repercussions of a...
How do I find out if my house is in foreclosure? Finding out if your home is in foreclosure can feel scary, but knowing early can make a big difference. Foreclosure means your lender is trying to take your house because mortgage payments have been missed. If you’re wondering, “Is my house in foreclosure?” or “How do I find out if a property is in foreclosure?” then this guide from Moshes Law will help you find the answers and understand what to do next. ...
Why Did Condo Insurance Go Up in 2025? A Deep Dive into Rising Costs In 2025, condominium associations across the United States are grappling with a critical financial concern: sharply rising insurance premiums. From urban towers to beachfront condos, the cost of maintaining adequate coverage has become a pressing issue for board members and property managers alike.So, what exactly is behind this spike? While many are feeling the effects firsthand, few fully understand the complex set of f...
How Do I File a Quit Claim Deed in New York? If you live in New York and are trying to transfer real estate property from one person to another as a gift or through a court order, then a quit claim deed could be the best way to do it. A quit claim deed is a relatively easy method of transferring title of property and is most commonly used when a property is transferred without a traditional sale. This differs from general warranty deeds, which provide the highest level of protection for pr...
How to Prove Wrongful Foreclosure and Calculate Damages With the economic upheavals of the last few years, many homeowners have found themselves in danger of losing their homes. Loss of jobs meant loss of income for many, and as a result, they fell behind in their mortgage payments and faced foreclosure. However, there are homeowners who play by the book and do everything right. Yet they find themselves in foreclosure through no fault of their own, but through negligence or outright wro...
How to Transfer a Property Title to a Family Member When transferring property to a family member, such as a child, spouse, or sibling, the reasons often tie back to estate planning, gifting, or simply making inheritance easier. For example, parents may choose to transfer ownership of a home to their children to streamline asset management or to set up future financial security. Other common reasons include gifting a property or transferring it to avoid probate.Understanding the process of...
What to Do When There Is Breach of a Real Estate Contract By Buyer This article shall address the questions and concerns when there is a breach of a real estate contract by a buyer. Selling a home can be troubling enough, but it can be even more worrisome when there is a real estate breach of contract. Understanding and being familiar with real estate contract law can be frustrating. AUTHOR YURIY MOSHES, ESQFounding Member o...
Foreclosure After Death of Mortgage Holder When a loved one passes away, family members are not only left to grieve, but are also responsible for executing a will and ensuring the deceased’s finances and property are in order. Often, a home is the most valuable asset a person has and if a person passes away and leaves a mortgage behind, the family will have some tough decisions. What happens if the mortgage can’t be paid and what should the family do? If you are facing foreclosure after th...
Get Professional Assistance with the Cost of Transferring a Property Deed Transferring a property deed is an important legal process that can impact ownership rights, financial obligations, and even future estate planning. Whether you are gifting property to a family member, navigating a divorce, or selling your home, understanding how much it costs to transfer property deeds is crucial for a smooth transaction. Several factors influence the property deed transfer cost, including attorney fees,...
We’ve all been hearing a lot about the economy lately. After many ups and downs, many are asking: Is the economy getting better? While the answer isn’t clear-cut, there are signs that things are stabilizing, especially in the housing market. And if you're thinking about buying a home, this could be the perfect time to leverage something you already have—your home equity.In this post, we’ll break down how you can use the equity in your home (if you already own one) to make smarter moves in today’...
How to Put Your Home You Own With a Sibling in a TrustHow to Put Your Home You Own With a Sibling in a TrustSharing a home with a sibling can be a wonderful experience, but it also requires careful planning, especially regarding estate planning. One common strategy is to place the jointly owned property in a trust. This blog post will guide you through the process and provide essential information.What is a Trust and Why Use it for a Shared Home?A trust is a legal arrangement where a grantor (yo...
Updated for 2026 — NYC and New York State buyers are paying some of the highest Mortgage Recording Tax rates in the country. Understanding how these taxes work and how to legally reduce them can significantly lower closing costs, especially for refinancing borrowers.Purchasing a home in New York often involves taxes and fees that increase total closing costs. One of the most impactful is the Mortgage Recording Tax (MRT), imposed by New York State and, in certain cases, additional NYC local taxes...
Who Has Legal Rights to the Home? Exploring Title and Mortgage Disparities The complexities of mortgages and titles can frequently be confused when it comes to homeownership, particularly when the names on these documents don’t match. A typical situation is when there are two names on the title to the property but only one is on the mortgage. Understanding the consequences of this contract is essential for both sides. This blog will delve into the complexities of such an arrangement, exploring ...
In the world of real estate and finance, lenders often face difficult decisions when borrowers default on their mortgage payments. Two primary options for mitigating losses are short sales and foreclosures. Both have distinct processes, implications, and outcomes. This blog explores which option might be better for lenders by examining the nuances of each, including financial impacts, operational considerations, and broader economic effects.Understanding Short Sales and ForeclosuresWhat Is a Sh...
In the dynamic landscape of real estate, short-sale properties represent a compelling avenue for buyers and sellers alike, offering unique opportunities and challenges. At its core, a short sale occurs when a homeowner sells their property for less than the outstanding mortgage balance, with the lender's consent. This strategic maneuver serves as a lifeline for homeowners facing financial hardship, allowing them to avert foreclosure and mitigate financial losses. For buyers, navigating the rea...
What is a Short Sale?In a short sale, a homeowner sells their property for less than the amount they owe on their mortgage. This typically happens when the housing market declines and the home's value falls below the outstanding mortgage balance. The homeowner gets lender approval to sell the property at a loss, with the proceeds going towards the mortgage. Do You Need a Real Estate Attorney? If you need legal help with a real estate transaction, set up a FREE consultation today...
NYC consistently ranks as one of the most expensive housing markets in the nation. Even a minor dip in property values could push homeowners with tight finances underwater on their mortgages, making them more susceptible to foreclosure. Do You Need a Real Estate Attorney? If you need legal help with a real estate transaction, set up a FREE consultation today. CONTACT US NOW While national foreclosure rates haven't skyrocketed to the levels witnessed during the 2008 hous...
A short sale property occurs when a homeowner sells their property for less than the outstanding mortgage balance. In simpler terms, the proceeds from the sale are insufficient to cover the total amount owed to the lender.Do You Need a Real Estate Attorney?If you need legal help with a real estate transaction, set up a FREE consultation today.CONTACT US NOWNew York State Disclosure Law mandates sellers to disclose material defects in the property [NY Real Prop Law § 442]. This applies to short ...
Foreclosures are a homeowner’s worst nightmare. Not only can a foreclosure impact you in the immediate, in terms of losing your home and immediate financial impact of finding a new place to live, legal expenses, etc., it can also affect you for years to come, particularly when it comes to your credit score. But while it stays on your record for several years, there are things you can do now to start repairing and improving your credit. Contact our attorneys at Moshes Law f... ...
If you are facing foreclosure on your home, there is a good chance you will receive a lis pendens at some point during the process. The term lis pendens means “a suit pending” in Latin and is used to put the public on notice that there is a pending lawsuit over a particular real estate or a piece of land. Do You Need a Real Estate Attorney? If you need legal help with a real estate transaction, set up a FREE consultation today. CONTACT US NOW A legal no...
Selling your home can be a stressful ordeal, but knowing when to sell can make the process easier. If you are deciding whether now is the time to sell your home, top realtors will tell you the answer is yes. Most of 2021 has been a seller’s market with low inventory and historically low-interest rates. If you decide that you are ready to sell your home, be sure to call Moshes Law, P.C. for a free consultation with an experienced New York real estate attorney. A real estate att...
When a borrower takes out a mortgage to purchase a home, they agree to specific terms, one of which is monthly payments towards the mortgage debt. If a borrower defaults on the loan and fails to make payments, their property will eventually enter foreclosure. The judicial foreclosure process is the legal proceedings that allow the lender, in most cases a bank, to recover the balance of the defaulted loan by repossessing or selling the property. Do You Need a Real Estate ...
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