Real estate partners Peter Fisch and Salvatore Gogliormella’s latest Expert Opinion column, “The Institutional Investor ’90-Day Rule’ Under Real Property Law Article 16,” was published in the May 20 issue of the New York Law Journal. The authors discuss a new state law in New York, Article 16, that requires that one- and two-family homes be listed for sale to the general public for at least 90 days before certain institutional investors can purchase them or make an offer. With violations by buyers carrying potentially severe consequences, the authors describe additional diligence, drafting and documenting that may be required by parties to such transactions in order to comply with the new law.
Real estate associate Leila Shirian assisted with the preparation of this article.
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