Bruce A. Ikefugi's Answers

Real estate listing agreement terms and condition, owner's liability when the listing agreement terminated

Your interpretation is correct; you owe a commission only if the buyer/renter you contract with was “introduced to the property” during the duration of the listing agreement. A very broad interpretation (which agents have used) holds this to include a buyer/renter who found out about the property through an ad or internet posting placed by the agent, even if the buyer/renter’s first contact was with you, after the listing lapsed. A more reasonable interpretation, and one easier to prove,...

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Is there a Residental Landlord-Tenant Ordinance in New York State regarding security deposits?

Your landlord must return your deposit (assuming there was no damage to the apartment other than normal wear and tear) within a “reasonable” amount of time, which I would suggest would be 30 days or so. New York General Obligations Law 7-103 requires that your deposit be placed in an interest bearing trust account, with the interest payable to you, if your apartment is in a building containing six or more apartments. If your rental was a two family, or single family home you would not be...

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How much info does a landlord have to have from prospective tenant regarding credit, job, SSN, etc?

More and more, landlords are asking for information from prospective tenants to make certain that the rental obligation will be met. There is nothing wrong with the questions posed by the landlord in your example. The homeowner should, however, obtain your permission before running a credit report assuming that is what will be done with the information provided. If the homeowner cannot verify your creditworthiness (that is, if you refuse to give the information requested), your chances of...

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Rights of landlord and tenants

I see three issues here, two of which will be answered by a look at your lease. Does the lease say he has the right to go into your apartment without your consent (except in the case of emergencies)? Does the lease describe the size or number of rooms you are renting? If the lease does not give him access to the apartment then he certainly was not allowed to construct a new wall. If the lease says you are to pay $X in return for 1,000 square feet of living space then he cannot reduce the...

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Net lease for mobile home park new york state

If you are in the City of Lockport, the Assessor maintains a website at: http://www.elockport.com/city_assessment.html The “Online Assessment Information” link may help you confirm the additional amounts required by your Landlord. You are correct that a “net lease” is not typical with a residential property but to the best of my knowledge its use is not limited to commercial properties. You are correct that only the owner, or his representative, may contest an assessment amount. I...

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What proof do I need that a mortgage was paid off?

The best proof that a mortgage has been paid off is recording a Mortgage Discharge in the County Clerk’s Office where the mortgage itself was recorded. The form letter that you cited should say something like “we will prepare and send a Mortgage Discharge to the County Clerk for recording” or “enclosed is your Mortgage Discharge which we urge you to record in the County Clerk’s Office” or some similar statement. If the letter does not comment on the Mortgage Discharge (and you refinanced...

Employer made me, an H1-B employee sign a $25,000 bond to work for him for 6 months.

Your employer may have invested a significant amount of time and money in petitioning for your H1-B visa. He may also have incurred significant lodging, training, etc., costs once you are here. The purpose of the bond is not to force you to continue to work for a bad employer, but to permit him to recover his costs if things do not work out as has apparently occurred in your case. If you show your employment agreement to an attorney and share all of the facts with her, she should be able to...

Is a buyer in a real estate purchase and sale responsible for any fees in NY state

The Good Faith Estimate is usually prepared by the bank lending you the money for your purchase. The bank usually requires title insurance (not just a title search) and $3,800 in insurance would be approximately what a $300,000 owner policy and mortgage policy might be. If you are trying to limit closing costs, ask your attorney if the title insurance includes an owners policy. If it does, ask him or her if it is something that might be waived. Depending upon the condition of the title to...

Tennant lockout

You unfortunately seem to have several evidentiary problems, lack of written documentation, lease, etc. I would be interested to know if you (or he) have copies of any utility bills, such as a telephone or electrical bill and whose name they were in. That, and the rent checks you may have received would be the best indicator of who the actual tenant was and whether or not he can maintain the action, i.e., that he “has a case.” The tenant legally was supposed to give you one full month’s...

Co-op apartment building mortgage.

Without actually seeing your cooperative organization documents, stock certificates, proprietary leases, etc., I cannot advise you for certain, however I can tell you what is normally the case. Yes, you and all the members have a percentage ownership interest in the corporation that owns your building. You have always had that ownership interest, it was, however, subject to the outstanding mortgage. The basic structure of a cooperative is (1) you own a certain amount of shares in the...