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Hotel Syracuse Litigation Illustrates the Requirement that Lenders Must File Building Loan Contracts

The historic Hotel Syracuse in downtown Syracuse was recently the subject of a mortgage foreclosure action which led to litigation involving the priority of the liens against the property. The New York State Court of Appeals case of Altshuler Shaham Provident Funds, Ltd. v. GML Tower LLC (21 N.Y.3d 352), decided in June 2013, illustrates…

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Being a Residential Landlord – Is it for you?

Being a residential landlord is not always what it’s made out to be on HGTV. Investing in and managing rental real estate can be either a nightmare or a prudent investment. Ensuring the latter takes homework, hard work and the proper due diligence before investing, as well as continued commitment of time and effort. Knowing…

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Excluding Gain on the Sale of a Home

As the size of a family increases, families traditionally seek to replace the home they are outgrowing with a larger one. As time goes by and parents become empty nesters it is not uncommon for thoughts to turn to downsizing or perhaps becoming snowbirds and moving to a warmer climate. These, as well as other…

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Reduce Your 2014 Real Property Taxes by Taking Action NOW!

If you own property assessed by a town, your next school tax bill won’t arrive until September. However, you should take action now to reduce 2014 property tax liability. Remember: Assessments and Tax Bills are on Different Schedules A tax assessment is the annual estimate of a property’s fair market value. Town assessors fix tentative…

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Florida Residency and the Often Overlooked New York STAR Exemption

If you are a homeowner in New York State, you are undoubtedly aware of the Basic STAR Exemption Program, which provides you with a real property tax break. Perhaps now you are retired and have moved to Florida (or some other warmer state) or are thinking about moving to Florida while keeping your former New…

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