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USA - October 22 2010 An August 2010 Memorandum of Agreement (MOA) entered into by the New York City Mayor's Office and the New York State Department of Environmental Conservation (NYSDEC) further advances the city's program to return "Brownfield" sites in the city to productive reuse.
USA - October 22 2010 Power of attorney forms are frequently used in connection with real estate transactions.
USA - October 22 2010 On September 23, 2010, in KB Gallery LLC v 875 W 181 Owners Corp, 2010 WL 3701381 (NYAD 1 Dept.), 2010 NY Slip Op 06697, the New York Appellate Division, First Department, upheld a June 8, 2010 Supreme Court, New York County, decision (see KB Gallery LLC v. 875 W 181 Owners Corp., No. 603766- 2009, slip op. at 3 (N.Y. Sup. Ct., Jun. 8, 2010)), which held that a commercial tenant could not maintain a Yellowstone application for injunctive relief that was filed after the default cure period under the lease had expired.
USA - July 6 2010 The New York State Legislature is considering legislation that would tax all investment fund managers (including real estate fund managers) who work in New York but live outside the state on the income received from their "carried interests."
USA - July 6 2010 The New Jersey Division of Taxation ("Division") recently published an amendment to NJAC 18:16A that specifically addresses the application of the "Controlling Interest Transfer Tax" to transfers between second-tier entities.