Real Estate Law Attorney NYC
Residential Real Estate:
The Law Office of Inna Fershteyn assists clients in all types of Real Estate Transactions, both Residential and Commercial. Whether you are buying a home, selling your house, or purchasing property as part of a business merger or acquisition, we have the knowledge and experience to meet your needs. Attorney Inna Fershteyn provides legal advice and general counsel for all aspects of New York City real estate transactions, including cooperative, apartments, condominiums, single-family homes, apartment buildings, mixed-use buildings, and undeveloped land. Offices of Inna Ferhsteyn provide purchasers and sellers with following services.
- Drafting of purchase and sale agreements
- Reviewing Contracts
- Reviewing of Offering Plans
- Reviewing whether there are any violations pending at the Department of Housing, Preservation, and Development, and with the Division of Housing and COmmunity Renewal.
- Reviewing whether there are any unpaid taxes or unpaid HPD liens against the building,
- Reviewing whether the building is properly registered with the Department of Housing, Preservation, and Development and with the Division of Housing and Community Renewal.
- Acquisition of residential property in New York
- Mortgages and financing
- Title examinations (title and lien searches)
- Real Estate Closings
- Transfer of Real Estate into a trust.
Buying a Home in New York
This article discusses important aspects of obtaining a new house. At first, this process might even seem very simple and unproblematic, but in reality, it requires thorough examination and attention. Inna Fershteyn, a knowledgeable lawyer, will help you make the right decisions about the purchase of a new house and will also protect your rights. Some of the frequently asked questions followed by the response from real estate attorney Inna Fershteyn are presented in this article. If you are planning to buy a house, please make the right choice and consult an experienced attorney, Inna Fershteyn, before making any crucial decisions.
Real Estate Closings in NYC
What you should know about buying a home in New York City.
What is a closing?
A real estate closing is the last step in the real estate buying and selling process. Once a property offer is officially accepted by the seller, a purchase agreement is made and a closing date is set. After the closing process, the ownership of the property is transferred from the seller to the buyer, after which the buyer is free to start their move-in or renovation process.
How Long Does a Typical Sale Take For Residential and Commercial Purchases?
According to Zelle, it takes an average of about 65 to 93 days to sell a house from the time that you list a property to the time that you close. Since this is only an average, selling your house may take more or less time than the average amount of time. This is based on certain factors like the current real estate market you sell your house in. If the real estate market is high, there will be more buyers in the market to buy your home whereas if the real estate market isn’t as active, there will be less buyers in the market to buy your property. Another factor that could impact how fast your house sells is your location, which is an important aspect of buying a house. If your property is in a desirable location, your house will be able to sell much faster then if it isn’t in a desirable location for the buyer.
What documents do I need to have with me during the NYC real estate closing process?
The most important documents you should have with you are the purchase agreement, the property deed, and the deed of trust or mortgage. If the original documents have been misplaced, lost or destroyed, you may be able to get certified copies of these documents from the closing company, but it is best not to rely on other recordkeeping systems unless absolutely necessary.
Transferring Real Estate In NYC
If you are looking to transfer a property over to somebody in New York City, you must file a Quitclaim Deed. A Quitclaim Deed is a New York legal document that transfers title to a real estate property but makes no promises at all about the owner’s title. Although a warranty deed is generally the document used in the sale of a real estate property and is a guarantee from the seller that the property is free and clear of encumbrances, liens, and clear of any other title holders, a Quitclaim Deed on the other hand transfers the owner’s entire interest in the property to the person receiving the property, but it only transfers what they actually own. For example, if two people jointly own the property and one of the owners quitclaims their interest to their brother, they can only transfer their half of the ownership. That means that the person receiving title is not the sole owner.
How To File A Quitclaim Deed
In order to transfer title by quitclaim deed in NYC, a quitclaim deed must be in writing to ensure its validity. The quitclaim deed includes a legal description of the property that is being deeded, the county it is located in, date of transfer, and the name of the grantor, which is the person transferring the property, finally the grantee, which is the person that would be receiving the property. After the quitclaim deed is drafted, the grantor must sign the document and their signature would need to be notarized. Depending on the county where the quitclaim deed is being filed, the deed may need to be filed in multiple places. However, all quitclaim deeds must be filed with the County Clerk’s Office in the jurisdiction of where the property is located.
Why Would Someone Want To Transfer Their Property To Somebody Else?
A common reason for transferring a property to somebody else would be to simply give it to someone. For example, parents could use a quitclaim deed to transfer their home to their children. In this case, there is no need for the property owner(s) to provide guarantee of ownership because in this scenario both parties are related.
Another example of when a quitclaim deed could be used is in a divorce. When a couple divorces, the husband could use a quitclaim deed to give his ex-wife a portion of the house that they may both own together.
Why Is It Necessary For An Real Estate Attorney To Be Involved:
Before finalizing the property transfer, the quitclaim deed must be recorded. The interests of the owner are not completely protected until the document has been recorded in the local registry or recorder’s office. Many of these documents are sensitive and must be completed in a certain manner. It is important to involve a real estate attorney in this process, because they will be able to ensure that all the documentation and files are processed correctly. This will prevent or reduce any potential issues that may arise in the future.
How To Transfer Real Estate Into A Trust:
In order to transfer real estate into a trust, you must prepare and sign a new deed, which transfers ownership. First, you must get a new deed form. Make sure that when you get a new deed form, it is specific to your state. Deed forms do vary slightly by state, but they require the same basic information:
- The Current Owners’ Name: If you are sole owner, or if you and someone else own a property and you are transferring just your share, your name would only go on the new deed. If you and your spouse own the property together and are transferring it to a shared trust, type in both of your names. Be sure to use exactly the same form of your name as is used on the deed that transferred the property to you and you used in your living trust document.
- The New Owner’s Name: When transferring your property into a trust, fill your name(s) as trustee exactly as it appears in the first paragraph of your trust, and the date you signed the trust document in front of a notary public.
After the deed is signed, you need to record the deed. Recording a deed requires you to take the original, signed deed to the land records office. For a small fee, a clerk will make a copy and put it in the public records. You'll get your original back, stamped with a reference number to show where the copy can be found in the public records.
If you need assistance transferring your property into a trust, an experienced Deed Transfer Attorney would be able to assist you in transferring your property into a trust.
NYC Real Estate Leasing Services:
Residential Leases and Subleases: Inna Fershteyn represents landlords in drafting and negotiating the lease terms, and likewise represents tenants in negotiating lease terms to balance the Plainfield, making the lease fair for both parties.
Commercial Real Estate Transactions: Inna Fershteyn Also represents clients and all types of New York commercial real estate transactions with an exceptional closing rate on all sign purchase and sale agreements. Such Services include
- Drafting of purchase and sale agreements
- Reviewing contracts
- Lease review
- Reviewing taxes issues
- Reviewing of offering plans and financial statements
- Reviewing weather there any unpaid taxes or unpaid HPD liens against the building.
- Acquisition of commercial property in New York.
- Mortgages and financing.
- Title examinations (title and lien searches)
Commercial Litigation in New York City
When you own a business it is almost inevitable that, sooner or later, a business deal becomes problematic, or the supplier defaults on a contract – and your company finds itself in litigation.
At the Law Office of Inna Fershteyn, we approach contested legal problems by first trying to resolve them economically amicably and expeditiously, without going to court. However, litigation is necessary when the matter goes to the court, be assured that we are not afraid to fight: we will be ready and we'll work hard – with you on our team – for a successful outcome.
The NYC Real Estate Litigation Process
The Real Estate Litigation process varies according to each dispute. Real estate litigation can be a quick and easy process in some cases, but there are cases that are long and overwhelming in other cases. When parties can come to an agreement before going to litigation, the process is much simpler. This is also known as arbitration. If the plaintiff and defendant are not able to come to a mutual agreement, litigation then proceeds. Once the real estate litigation process starts there will be a plea followed by pre-trial meetings. After all pre-trial matters are settled, a trial date will be set and will take place. The court will make a judgment to settle the dispute. If one party is not content with the judgment they can file an appeal. After the final judgment is settled it will be enforced by the court of law.
Contact A New York Real Estate Attorney Today
If you need help to execute all the necessary real estate documents, contact the Law Office Of Inna Fershteyn. Mrs. Fershteyn is an experienced real estate attorney who has over 20 years of experience. Inna has helped people in NYC with their real estate closings, and has helped many of her clients transfer properties into trusts. If you need help executing the proper estate planning documents, call (718)333-2394 to set up a consultation or contact us online.