Landlord Owes Tenant
Here is an unusual case where the landlord owes tenant $115,944.19.
Section 7-103 of the General Obligations Law provides, in pertinent part, that:
1. Whenever money shall be deposited or advanced on a contract or license agreement for the use or rental of real property as security for performance of the contract or agreement or to be applied to payments upon such contract or agreement when due, such money, with interest accruing thereon, if any, until repaid or so applied, shall continue to be the money of the person making such deposit or advance and shall be held in trust by the person with whom such deposit or advance shall be made and shall not be mingled with the personal moneys or become an asset of the person receiving the same.
In the recent case of 23 E. 39th ST. MGT. v. 23 E. 39th ST. DEVS., 2011 NY Slip Op 31684 – NY: Supreme Court 2011, the landlord failed to place a $400k security deposit in a segregated interest bearing account. The court found this to be conversion and ordered that the landlord return to the tenant, $115,944.19, the amount sought in the complaint, with interest at the statutory rate from October 9, 2007.
We proudly assist Landlords and Tenants in Nassau county, Suffolk county, Queens, Brooklyn, Bronx, Staten Island, and Manhattan with their landlord tenant matters. Call (516) 858-2620 to arrange a FREE consultation with a Landlord Tenant attorney!
We are often asked, “should I short sale my property if I already filed bankruptcy?”
Maybe.
There may be several reasons to proceed with either a deed-in-lieu of foreclosure or a short sale of your home after your bankruptcy discharge is granted and your bankruptcy case is closed:
- To avoid paying Homeowner’s insurance.
- To avoid being liable for any injuries sustained on the property.
- To avoid liability for HOA dues.
- To avoid liability for failure to maintain the property.
The above reasons may cause you to lean towards a short sale or deed-in-lieu of your property. However, it would be wise to consult with an attorney before making a final decision.
We proudly assist residents of Long Island: Nassau county, Suffolk county, New York City: Queens, Brooklyn, Bronx, Staten Island, and Manhattan. Call (516) 858-2620 to arrange a FREE consultation with a bankruptcy attorney!
Eviction Rules Fluctuate
Eviction rules fluctuate between the counties of New York State. There has been an increasingly high volume of calls from landlords who live in one county but have rental properties in another county. This causes issues where the landlord has one understanding of the eviction procedure for where he lives, but that procedure differs significantly from the procedure in the county in which their rental property is located. These differences run along a wide variety of topics including whether or not the landlord should be present as the sheriff or marshal executes a warrant of eviction. Not knowing the rules for the county in which you are planning on litigating in, can lead to penalties that range from fines to jail time. It is always advisable to speak with an attorney before commencing legal action. As always, feel free to contact us with any questions or concerns involving evictions in your county at (516) 858-2620!
Long Island Landlord Tenant Attorneys
We proudly assist residents of Long Island: Nassau county, Suffolk county, New York City: Queens, Brooklyn, Bronx, Staten Island, and Manhattan with their landlord tenant matters. Call (516) 858-2620 to arrange a FREE consultation with a Landlord Tenant attorney!
Squatter or Holdover
Figuring out if the occupant is a squatter or holdover tenant is easier than you would think. Recently we have received a lot of phone calls regarding situations where landlords are having difficulty with people in their rental properties that they have never signed a lease with. In this situation, the first thing that seems to come to the minds of most people is that they are dealing with a squatter. A quick reference is to look to the amount of time that the intruder is on the property for. If they are on the property for more than 30 days, then the easiest way to remove them from the premises is via a holdover proceeding. If the intruder is there for less time, then they may be ejected as a squatter. Often times, a holdover proceeding seems to give the landlord a more guaranteed approach to recovering their property. The tradeoff is that with a holdover proceeding, the time to evict is often a little longer.
If you have questions regarding your landlord or tenant and whether or not the situation in which you are involved should be dealt with as a holdover or ejectment, then feel free to call the Law Firm of Vaughn, Weber & Prakope, PLLC at (516) 858-2620!
Keep in Touch