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New Jersey Law Journal

'Deely' Expands Lender's Use of Equitable Subrogation to Protect Priority Status

All practitioners involved in New Jersey real estate litigation need to be aware of 'Deely,' a recent Appellate Division decision that expands the situations in which a lender can use the doctrine of equitable subrogation to protect the priority status of a lien, by holding that a lender's knowledge of a prior competing lien does not bar the application of the doctrine.
7 minute read

The Legal Intelligencer

Philadelphia Expands Background Screening Ordinance

The revisions will expand coverage, modify certain required procedures and eliminate several exceptions. These changes have significant implications for the ability of many employers to inquire about the criminal history of independent contractors, gig workers and current employees.
4 minute read

New Jersey Law Journal

Construction Trends: Surety Bonds on Private Construction Projects

Private project owners have become increasingly interested in taking advantage of the same protections that public owners historically have had, by requiring surety bonds. While the cost can be a deterrent, when compared to the price of project failure, the cost of the bonds is relatively minor.
7 minute read

New Jersey Law Journal

Taming the Dreaded New Six-Year Limitation Period for Residential Mortgage Foreclosure

The new six-year statute of limitations, applicable under the Fair Foreclosure Act, is a game changer. The six-year period applies to residential mortgages executed on or after April 29, 2019, and runs from the date on which the debtor defaulted. But fear not; its bark is much worse than its bite.
10 minute read

New York Law Journal

High Court Answers Open Questions Concerning RPAPL 1304 and 1306

The court answered the open questions of (1) what evidentiary showing a borrower must make to rebut a lender's proof of a standard office procedure to establish compliance with RPAPL 1304's notice requirement, and (2) whether lenders must provide information for all borrowers in RPAPL 1306 proof of filing statements.
6 minute read

New York Law Journal

Adapting to the New Mezzanine Loan Foreclosure Dynamics

The raft of litigation arising out of pandemic-induced foreclosure actions and diligence-intensive distressed deals are causing lenders and borrowers alike to carefully scrutinize their loan documentation. Methods of enforcement and potential defenses are critical.
8 minute read

New York Law Journal

Re-energizing an Injunctive Remedy To Stop UCC Foreclosures

The COVID-19 pandemic has badly shaken the commercial real estate market. A recent First Department decision has thrown an unfortunate barrier up against the hope for a turnaround.
7 minute read

New York Law Journal

Second Department Clarifies Law Concerning a Lender's Revocation of Acceleration in Foreclosure and Confirms the Sanctity of Settlement

The Appellate Division's decision is a welcome relief to the mortgage servicing industry.
4 minute read

New York Law Journal

It's Time To Fix the Co-Op Problem

It is time for New York to protect all owner-occupants of residential property and urgently close the loophole that denies at-risk co-op unit owners the protections accorded to similarly situated homeowners.
9 minute read

Law.com

No Judge Is an Island

A recent flurry of decisions in the U.S. Court of Appeals for the Seventh Circuit reveals that courts may follow a particular percolating issue, coordinate their decisions, and release opinions to address recurring issues or to clarify the law of the circuit.
7 minute read

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