Tax benefits of owning real estate rental properties through LLCs
May 06, 2021
This attorney is an advert supporter of utilizing LLCs to own and/or manage rental income real properties. This guide takes a look at the tax favored feature of such set up. Key tax benefits. Among t...
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Should postnuptial and prenuptial agreements have recitals? Kiritsis Law Group 212 922 0005
May 06, 2021
Although, it may not necessarily be legally required (subject to exceptions), it may be a good idea for a postnuptial or a prenuptial agreement to contain recital type language. What should be the goa...
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Can a foreign entity own a New York LLC? Kiritsis Law Group 212 922 0005
May 05, 2021
This is a very fact sensitive question. However, the answer would generally be: YES, a foreign entity in another country may own a New York LLC. The real questions are often on whether a) Is it worth ...
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Can an LLC issue shares?-- Kiritsis Law Group 212 922 0005
May 05, 2021
Generally, it is very rare (based on this attorney's experience) to see an LLC issuing shares. However, it may be legally possible, under a narrow set of circumstances. Broad Overview. The reason that...
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Profit allocations in Limited Liability Companies. Kiritsis Law Group 212 922 0005
May 05, 2021
One of the most confusing aspects in managing the day to day, as well as, the long term legal affairs of an LLC is that of profit allocations. What are an LLC's profit allocations? Simply put, a profi...
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A guide to gross leases in New York City. Kiritsis Law 212 922 0005
Apr 07, 2021
The term of gross lease is one of legal art with regards as New York leasing rights and obligations are concerned. What is a gross lease? Put simply, a gross lease is a commercial lease agreement, whe...
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A guide to NYC rent security deposit rules
Apr 07, 2021
A common source of confusion, as well as, friction between landlords and tenants in New York City has often centered around the topical areas of security deposits. This short and incomplete legal gui...
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A guide to New York real estate contracts of sale. Kiritsis Law Group 212 922 0005
Apr 07, 2021
By far and away, the most important legal document governing real estate property transactions is the contract of sale. Major Issues. 3 key takeaways with regards to contracts of sale involving NY rea...
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Latest Covid 19 updates for Brooklyn Housing Court eviction proceedings. Kiritsis Law 212 922 0005
Apr 06, 2021
The King County Housing Court legal procedures and protocols were significantly disrupted by Covid 19. Common Issues When was the eviction case filed?
How has the lease agreement (if any) addressing ...
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Buying a condominium in New York City. Kiritsis Law Group 212 922 0005
Apr 06, 2021
The decision to buy a condo in New York City is one where a buyer would inevitably be forced to face a number of legal issues. Common Issues. A condo is a type of hybrid fused property — on the one ha...
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