Co-op vs. Condo: What’s the Difference in New York Real Estate? If you’re buying property in New York , one of the first choices you’ll encounter is whether to purchase a co-op or a condo. While both offer homeownership , they differ in structure, ownership rights, and responsibilities. Here's a quick breakdown of the key differences to help you decide which is right for you. 1. Ownership Structure Co-op (Cooperative Apartment): When you buy a co-op, you're purchasing shares in a corporation that owns the entire building. Your shares give you the right to occupy a specific unit through a proprietary lease. Condo (Condominium): When you buy a condo, you own the real property—your individual unit—along with a percentage of the common areas (hallways, lobby, etc.). 2. Approval Process Co-op: Requires board approval, which can be rigorous. The co-op board can reject buyers for financial or even subjective reasons, and often requires interviews and extensive financial disclosure. Condo: More buyer-friendly—there’s usually no board approval, just a right of first refusal, which is rarely exercised. 3. Financing and Costs Co-op: Often requires a larger down payment (commonly 20–30% or more). Maintenance fees include taxes and building costs. Co-ops generally don’t allow subletting or have strict limits. Condo: Usually allows for more flexible financing and lower down payments. Owners pay common charges plus individual property taxes. Condos are generally easier to rent out or use as investment properties. 4. Rules and Restrictions Co-op: Typically has stricter rules about renovations, guests, subletting, and even who can live in the unit. The board has greater control over day-to-day building operations. Condo: Offers more autonomy. Owners have more freedom to renovate, rent out, or sell without board interference (though rules still apply). 5. Price and Availability Co-ops: Tend to be less expensive than condos on a square-foot basis but come with more restrictions. Condos: Generally cost more, but offer greater flexibility and are more attractive to investors and foreign buyers. Choosing between a co-op and a condo in New York depends on your goals, finances, and lifestyle. If you’re looking for a long-term primary residence and a community-focused environment, a co-op might suit you. If you want more flexibility or plan to rent out your unit, a condo may be the better option. Need help navigating your purchase? Contact the Law Office Of Robert Howe today for trusted legal guidance in New York’s real estate market.

When Is the Best Time to Involve an Attorney in a Real Estate Transaction in New York? In New York, real estate transactions are legally and financially complex—and unlike many other states, attorney involvement is customary and often essential. Whether you're buying, selling, or refinancing property, knowing when to involve a real estate attorney can help you avoid costly mistakes and ensure a smooth closing. Here’s when you should bring in an attorney during a New York real estate transaction: 1. Before Signing the Contract of Sale This is the most critical point to involve an attorney. In New York, the seller’s attorney usually prepares the first draft of the contract. Before you sign it, your attorney should: -Review and negotiate the terms -Ensure all key protections and contingencies (inspection, financing, clear title) are included -Explain your rights and obligations clearly -Never sign a contract without legal review. 2. During the Due Diligence Period After the contract is signed but before closing, your attorney will: -Conduct or review a title search -Ensure there are no outstanding liens, violations, or legal claims -Coordinate with the title company and lender -Help address issues uncovered during inspections 3. When Dealing With Co-ops or Condos Buying a co-op or condo involves unique legal documents and board review. An attorney will: -Examine the offering plan, financials, and board minutes -Ensure compliance with building rules and restrictions -Guide you through the board approval process (for co-ops) 4. At the Closing Table Your attorney will represent you at closing to: -Review all documents (deed, mortgage, transfer taxes, etc.) -Ensure all payments are made properly -Confirm the legal transfer of ownership and recording of documents The best time to involve a real estate attorney in New York is early—before you sign anything. From negotiating your contract to ensuring a clear title and successful closing, an experienced attorney will protect your interests every step of the way. Ready to buy or sell property in New York? Contact the Law Office Of Robert Howe today to make sure your transaction is handled with clarity, confidence, and legal precision.

How Tariffs Can Impact New York Real Estate Tariffs—taxes imposed on imported goods—may seem like a global trade issue, but they can have very real, local consequences, especially in markets like New York real estate . Whether you're a homeowner, developer, investor, or buyer, understanding how tariffs can affect the cost and pace of real estate projects is key to making informed decisions. 1. Increased Construction Costs Many building materials used in New York construction—such as steel, aluminum, and lumber—are often imported. When tariffs are placed on these goods, material costs rise, which can: -Drive up the cost of new developments -Delay renovation or construction projects -Increase overall housing prices due to higher build costs 2. Impact on Commercial Development Tariffs can significantly affect commercial real estate projects, particularly large-scale developments and infrastructure work. Developers may be forced to: -Postpone or scale back projects -Pass increased costs on to tenants through higher rent -Delay timelines due to budget overruns 3. Reduced Foreign Investment New York real estate has traditionally attracted international investors, especially in luxury residential and commercial properties. However, ongoing trade tensions and retaliatory tariffs can: -Discourage foreign investment -Shift global capital to other, less impacted markets -Add uncertainty to long-term investment strategies 4. Supply Chain Disruptions Tariffs can disrupt the global supply chains that developers rely on for fixtures, appliances, and finishing materials. This can lead to: -Project delays -Unpredictable budgeting -Lower availability of certain materials, which may affect design and quality 5. Broader Economic Ripple Effects Tariffs can also impact the overall economy, influencing job growth, consumer confidence, and interest rates. A slowdown in the broader economy may soften real estate demand, particularly in high-cost markets like New York City. While tariffs are not directly tied to buying or selling a home, they can significantly shape the cost, timing, and viability of real estate development and investment in New York. Staying informed about economic policy and working with knowledgeable professionals—legal, financial, and real estate—can help you navigate these changes with confidence. Need guidance on how market trends and economic shifts could affect your real estate goals? Contact the Law Office Of Robert Howe today for informed, strategic legal support.

Top 5 Things to Look for When Hiring a Real Estate Attorney in New York Buying or selling property in New York is a significant financial and legal transaction. Whether you’re purchasing a co-op in Manhattan or a house in the suburbs, having the right real estate attorney by your side is essential. But with so many options out there, how do you choose the right one? Here are the top 5 things to look for when hiring a real estate attorney in New York . 1. Experience with New York Real Estate Law Real estate law is highly local. The attorney you choose should have extensive experience handling real estate transactions in New York, where the process involves unique legal requirements, including attorney-drafted contracts, co-op board approvals, and strict closing procedures. 2. Familiarity with the Property Type Whether you're buying a co-op, condo, townhouse, or single-family home, your attorney should be familiar with the specific issues involved. Co-op transactions, for example, involve reviewing board minutes, financial statements, and proprietary leases—tasks not required for other property types. 3. Clear Communication and Responsiveness Real estate deals move quickly, and delays can cost you the deal. Look for an attorney who is: -Responsive to calls and emails -Able to explain legal terms clearly -Proactive in keeping you informed throughout the process 4. Transparent Fees A good attorney should provide clear, upfront information about fees, including: -Flat fees for standard transactions -Additional costs for unexpected legal work or title issues -Make sure you understand what’s included—and what’s not—before signing a retainer agreement. 5. Strong Reputation and Client Reviews Check online reviews, testimonials, or ask for referrals to see what past clients say about the attorney’s professionalism, efficiency, and results. A well-regarded attorney with a solid track record is more likely to handle your transaction smoothly and protect your interests. The right real estate attorney can make all the difference in your buying or selling experience in New York. From negotiating your contract to ensuring a smooth closing, their guidance is key. Contact the Law Office Of Robert Howe today if you're looking for experienced, responsive legal support for your next real estate transaction. We're here to help you close with confidence.

What Is a Deed in New York? A deed is a legal document that transfers ownership of real property from one person or entity to another. In New York, a deed is an essential part of any real estate transaction , serving as the official record that someone has the legal right to own and use a property. Key Functions of a Deed A deed in New York: -Identifies the grantor (seller) and grantee (buyer) -Describes the property being transferred -States the type of ownership interest being conveyed -Must be signed, notarized, and recorded with the County Clerk or Register’s Office to be legally effective Common Types of Deeds in New York 1) Warranty Deed -Offers the highest level of protection to the buyer -The seller guarantees they have clear title and will defend against any future claims 2) Bargain and Sale Deed with Covenants -Commonly used in New York -The seller guarantees they have not done anything to encumber the title but doesn’t provide full warranty 3) Quitclaim Deed -Transfers whatever interest the seller has, with no guarantees -Often used between family members or to clear up title issues Why Deeds Matter A properly executed deed ensures: -Clear ownership rights -Legal protection in case of disputes -Accurate public records for future reference -Failure to properly prepare or record a deed can result in title issues, legal complications, or even the loss of property rights. Do You Need an Attorney? In New York, it’s strongly recommended—and often expected—that a real estate attorney prepare and review the deed as part of a property transaction. An attorney will ensure the deed complies with state law, is properly recorded, and that your ownership rights are fully protected. A deed is more than just a piece of paper—it’s your legal proof of property ownership. If you’re buying, selling, or transferring real estate in New York, contact the Law Office Of Robert Howe today for professional legal assistance to ensure your deed is properly drafted, executed, and recorded.

How Family Court Works in New York Family Court in New York plays a vital role in resolving legal matters involving families and children. Whether you're dealing with custody, child support, or domestic violence, understanding how Family Court works can help you better navigate the process. What Types of Cases Does Family Court Handle? New York Family Court hears a wide range of cases, including: -Child custody and visitation -Child and spousal support -Paternity -Juvenile delinquency -Abuse and neglect -Orders of protection (in cases of domestic violence) -Adoption and guardianship Unlike criminal or civil court, Family Court focuses on non-criminal family matters and emphasizes the best interests of the child. Who Can File a Case in Family Court? Parents, legal guardians, spouses, and in some cases even children or other relatives, can file petitions in Family Court. You don’t need an attorney to file a case, but having legal representation is highly recommended—especially in complex or contested matters. How the Process Works Filing a Petition -The process begins when one party files a petition stating the issue (e.g., custody, support, or protection). Court Hearings -After the petition is filed, the court schedules a hearing where both sides can present evidence and testimony. -In some cases, the court may appoint law guardians (attorneys for children), social workers, or other professionals. Mediation or Settlement -Some cases may be referred to mediation to resolve disputes outside of the courtroom. Court Orders and Decisions -After hearing both sides, the judge may issue temporary or permanent orders related to custody, support, or protection. Do You Need an Attorney? While you are allowed to represent yourself in Family Court, having an experienced family law attorney can make a significant difference—especially when legal rights, parental responsibilities, or a child’s well-being is at stake. Family Court in New York is designed to address sensitive and impactful legal matters affecting families. Whether you're seeking custody, child support, or legal protection, understanding the court process and having professional guidance can help you move forward with confidence. Contact the Law Office Of Robert Howe today if you need experienced legal representation in Family Court. We’re here to protect your rights and help you navigate every step of the process.

How an Attorney Represents You in a Mortgage Refinance in New York Refinancing your mortgage can be a smart financial move—whether you're lowering your interest rate, adjusting loan terms, or tapping into your home’s equity. But in New York, refinancing involves more than just dealing with your lender. A real estate attorney plays a key role in protecting your interests and making sure the refinance process is handled smoothly and legally. Here’s how an attorney represents and protects you during a refinance in New York: 1. Reviewing the Loan Terms and Documents Before you sign anything, your attorney will carefully review the refinance loan agreement, including: -Interest rate and repayment terms -Closing costs and fees -Prepayment penalties -Escrow and tax arrangements Your attorney makes sure you fully understand what you’re agreeing to and that the terms are fair and in your best interest. 2. Conducting a Title Search and Clearing Title Lenders require confirmation that the title to your property is clear before approving a refinance. Your attorney will: -Order a title search to ensure there are no outstanding liens, judgments, or ownership issues -Help resolve any title problems that could delay or jeopardize the refinance -Work with the title company to provide necessary title insurance for the lender 3. Coordinating the Payoff of the Old Loan Your attorney will: -Obtain a payoff letter from your current lender -Ensure that the old mortgage is paid off in full and discharged properly -Make sure the new loan is recorded and that ownership remains clear This step is crucial to avoid having multiple mortgages or incorrect liens on your property. 4. Representing You at the Closing Refinancing in New York requires a formal closing, often similar to a purchase or sale. Your attorney will: -Attend or conduct the closing -Review and explain all documents before you sign -Ensure the funds are disbursed correctly -Confirm that the new mortgage is recorded with the county clerk 5. Ensuring Compliance and Accuracy Mistakes in the refinance process can cost you time and money. Your attorney ensures: -All documents are legally compliant and properly executed -No hidden charges or unfavorable terms slip through -Your legal rights are protected from start to finish While refinancing may seem straightforward, the legal and financial implications are significant. Having an experienced real estate attorney by your side in New York ensures that your refinance is done correctly, efficiently, and with your best interests at heart. If you're considering refinancing your home, contact the Law Office Of Robert Howe today to learn how we can protect you and streamline the process from start to finish.

What is a Power of Attorney in New York? A Power of Attorney (POA) is a legal document that allows you to appoint someone you trust—called your agent or attorney-in-fact—to act on your behalf in financial, legal, or other personal matters. In New York, a properly executed POA is a powerful tool for managing your affairs, especially if you become ill, incapacitated, or simply need assistance with day-to-day financial tasks. Types of Power of Attorney in New York Durable Power of Attorney Remains in effect even if you become mentally incapacitated. Commonly used for long-term financial and estate planning. Non-Durable Power of Attorney Only effective while you are mentally competent. Often used for limited, short-term needs. Springing Power of Attorney (less common in NY after 2021 law changes) Becomes effective only upon a specified event, such as incapacity. What Can an Agent Do With a POA? Depending on how the document is written, your agent may be authorized to: -Pay bills and manage bank accounts -Buy or sell real estate -Handle investments or insurance policies -Deal with tax matters -Access safe deposit boxes -You can grant broad powers or limit your agent’s authority to specific tasks. Legal Requirements in New York As of the 2021 updates to New York’s POA law, the document must: -Be signed by the principal (you), acknowledged before a notary public, and witnessed by two people -Include statutory language to be valid under state law -Be clear about the powers being granted and any limitations -Your agent must also sign an acknowledgment form accepting their role. Why a POA is Important A Power of Attorney provides peace of mind. Without one, your family may need to go through a lengthy court process to be appointed as your guardian if you become incapacitated. A POA ensures your affairs can be managed smoothly, according to your wishes. Creating a Power of Attorney is a critical step in your estate and financial planning . To ensure your document complies with New York law and truly protects your interests, it’s best to work with an experienced attorney . Contact the Law Office Of Robert Howe today to learn more about setting up a Power of Attorney tailored to your needs.

Understanding the Basics of Property Law in New York Whether you’re buying your first home, investing in real estate, or managing rental properties, understanding the basics of property law in New York is essential. Property law governs how real estate is bought, sold, used, and transferred in the state, and it includes a wide range of legal rights and responsibilities. Here’s a quick overview of some key principles: 1. Types of Property Ownership New York recognizes several forms of property ownership, including: -Fee Simple – The most complete form of ownership, giving the holder full rights to use, sell, or transfer the property. -Tenancy in Common – Two or more people own a property together, each with an undivided interest. -Joint Tenancy with Right of Survivorship – Ownership passes automatically to the surviving owner(s) upon one’s death. -Tenancy by the Entirety – A special form of joint ownership for married couples, offering survivorship rights and protection from certain creditors. 2. Real Estate Transfers and Deeds Transferring property in New York requires a written deed, which must be: -Properly executed (signed and notarized) -Delivered to the new owner -Recorded with the County Clerk or Register’s Office -Common types of deeds include warranty deeds, quitclaim deeds, and bargain and sale deeds, each offering varying levels of protection. 3. Zoning and Land Use Zoning laws regulate how land can be used—residential, commercial, industrial, etc. Before buying or developing property, it's important to: -Review local zoning ordinances -Check for variances or special permits -Understand restrictions on building size, height, or use 4. Landlord-Tenant Law New York has detailed laws governing rental properties. Key areas include: -Rent control and stabilization (particularly in NYC) -Tenant rights to habitability and privacy -Eviction procedures and protections Landlords must comply with state and local laws or risk legal penalties. 5. Easements and Encumbrances An easement is a legal right to use another person's land for a specific purpose (e.g., a shared driveway or utility access). Encumbrances, such as liens or restrictions, can affect ownership rights and should be resolved before purchasing or selling property. Property law in New York can be complex, especially when dealing with issues like title disputes, landlord-tenant conflicts, or zoning compliance. Whether you're a homeowner, buyer, or investor, working with an experienced real estate attorney is the best way to ensure your rights are protected and your transaction is handled properly. Contact the Law Offie Of Robert Howe - with over 40 years of experience - today if you need guidance on any real estate or property law matter in New York.