Limited Inventory Plus High Demand Equals Higher Housing Prices

People seeking a home in New York are finding it increasingly difficult to find an available home. A combination of limited available homes plus growing demand for those homes means housing prices are being driven up across the board, even as interest rates for mortgages remain at record lows. Even luxury properties are rising in value, despite their higher associated cost, as more prospective homeowners compete for the limited inventory. Continue reading “Limited Inventory Plus High Demand Equals Higher Housing Prices”

Considering the Benefits of a Testamentary Trust

As you grow older, planning your estate becomes increasingly important, especially for anyone with substantial assets that will need to be distributed once they pass on. While most people focus on writing a will when thinking about estate planning, there are other options available that can help you manage your assets and ensure they pass down to your loved ones when you’re gone. For example, some may wish to consider the potential benefits of a testamentary trust when planning their estate. Continue reading “Considering the Benefits of a Testamentary Trust”

Why Ask For Disinterment

When you bury your loved ones, most of the time you do so with the intent that they remain where they are buried forever. However, sometimes circumstances arise where it becomes necessary to disturb our loved one’s final rest, and remove them from their grave, at least for a time. When that happens, it becomes necessary to ask for a disinterment. Continue reading “Why Ask For Disinterment”

Supreme Court to Hear Challenge to Ministerial Exception

The United States Supreme Court ruled in 2012 that there was a “ministerial exception” to discrimination laws, protecting religious organizations from any discrimination suit brought by an employee classified as a “minister.” While this is convenient for religious institutions who are protected from the risk of being sued for employment discrimination, this is less so for the employees who might otherwise be protected. Now, two suits are heading to the United States Supreme Court that could test the legality and limits of this exception. Continue reading “Supreme Court to Hear Challenge to Ministerial Exception”

Free Exercise of Religion by Closely Held Corporations

The First Amendment of the United States Constitution states that “Congress shall make no law respecting an establishment of religion, nor prohibiting the free exercise thereof.” While it is obvious this applies to natural persons (in other words, living human beings), the Supreme Court ruled in Burwell v. Hobby Lobby Stores, Inc. that, in some cases, it can also apply to closely held corporations. Although it has been half a decade since the case was decided, the exact implications of Hobby Lobby remain loosely defined. Continue reading “Free Exercise of Religion by Closely Held Corporations”

What Does it Mean to Be Tax-Exempt?

Tax-exempt charitable corporations are a surprisingly common part of American life. Most churches, colleges, libraries and charities are organized as tax-exempt charitable corporations, free from the burden that an income tax imposes on most people and businesses. However, being tax-exempt doesn’t mean you’re entirely free of obligations, and if you’re not careful, your tax-exempt corporation could find its status stripped, exposing it to massive financial liability. Continue reading “What Does it Mean to Be Tax-Exempt?”

Why You Should Consider a Residuary Clause

When you write your last will and testament, there are many things you need to keep in mind. You need to keep track of all your property so it can be properly dispensed to your heirs, you need to decide who will inherit, and you need to make sure your will is reasonably up to date. However, even someone who is diligent about updating their will can miss things, which is why a residuary clause can be so helpful. Continue reading “Why You Should Consider a Residuary Clause”

Reasons to Consider a Living Will

It is difficult enough to discuss what will happen when we pass on, but it can be even more difficult to discuss what should happen if we become incapacitated while still alive. Despite this, however, that possibility is always present, and it is worthwhile to examine what options you can take to prepare yourself and your loved ones for that possibility. One such option is known as the living will. Continue reading “Reasons to Consider a Living Will”

Reporting Requirements of Tax-Exempt Religious Entities

One of the most significant benefits of running a nonprofit religious organization is the tax-exempt status you can qualify for. However, that doesn’t mean you don’t need to worry about the IRS or tax authorities at all. It’s important for everyone, including tax-exempt entities, to be aware of their reporting requirements, lest they incur potential legal or financial liabilities. Continue reading “Reporting Requirements of Tax-Exempt Religious Entities”

Commercial Landlord-Tenant Disputes

When people think about landlord-tenant disputes, they normally are referring to residential renters who get into arguments with their landlords over payment, conditions on the property, and so forth. However, many businesses are renters as well, choosing the relatively cheap path of renting out their business space rather than purchasing real estate. However, commercial renters can have just as many problems with their landlords as residential renters do, and sometimes they can be even more intense.

Of course, many of the issues that plague residential landlord-tenant relationships can also afflict commercial landlords and tenants as well. Disputes over rent payments are reasonably common, whether because the tenants are late with their payments, or because the landlord decides to suddenly increase the rent. A landlord may also fail to uphold their duty to maintain hospitable conditions on the property by not repairing dangerous or obnoxious issues that arise, such as a problem with the heating system or a termite infestation.

However, the fact that it’s a commercial property adds additional potential issues. After all, most businesses select a property because it suits the needs of their business, such as its geographical location, or perhaps the building has special structures (like loading bays) that are necessary for the business to run. Either way, if issues arise on the property that obstruct business, that could give rise to a landlord-tenant dispute as well.

On some occasions, a landlord may even become hostile to a tenant, perhaps out of personal animosity, or perhaps because the landlord believes they aren’t making as much out of their rental agreement as they could be with a new tenant. In such cases, a landlord might deliberately make efforts to force their current tenant out of the property, potentially violating the warranty of habitability in the process. Not only does that make your life more miserable, but it makes it that much harder to simply run your business and make a living.

If you are involved in a dispute with your landlord, or you’re a landlord dealing with a problematic tenant, you’ll need legal counsel to advise you of your rights and protect your interests. The real estate law attorneys at Wingate, Kearney, & Cullen, LLP have offices in Brooklyn and Long Island, New York.  The firm is experienced in handling commercial landlord-tenant disputes. For more information or to schedule a consultation, call (718) 852-5900 or fill out our contact form.