Kiritsis & Associates
When you buy a two family house real property in New York City, there may be special legal considerations with regards to contracting, brokering, titling, transferring and financing such a property. The reasons for the rise of those issues, has to do primarily on whether a two family home should be classified as a rental property and/or owner property from an underwriter’s point of view. There are no easy answers (if any) when the example of a potential buyer who wants to buy a two family property with the objective of living in one of the units and renting out the other units as a rental property.
Some frequently asked questions with regards to this topic, include:
How would a prospective buyer finance such a transaction?
Is the underlying property subject to a mortgage?
Are there any title issues with regards to the property?
Is property subject to any zoning restrictions?
Would a Limited Liability Company (LLC) be utilized with regards to transferring the property at issue?
Are there any peripheral legal issues surrounding the overall real estate deal (i.e. immigration, tax, anti-money laundering compliance, bankruptcy, foreclosure, divorce, eminent domain, re-development)?
New York Real Property Law
New York Landlord/Tenant Law
Internal Revenue Code
New York State Property Tax Regulations
NYS and NYC Executive Type Orders and Pronouncements
New York Martin Act
Whether buying, selling or leasing real estate in New York City -- our firm may be able to help you with your legal needs. Feel free to call us for a free consultation at 212 922 0005.
Law Offices of Kiritsis & Associates
Phone # 212 922 0005
Manhattan Office (Main Office):
633 Third Avenue
New York, NY 10017
Brooklyn Office (By Appointment Only):
1023 74th Street
Brooklyn, NY 11228
New Jersey Office:
7309 Ventnor Avenue
Ventnor, NJ 08406
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We hope you would find this website useful with regards to finding potentially relevant information for your legal issue. The Law Offices of Kiritsis & Associates PLLC is a boutique law firm headquartered in Midtown Manhattan, with offices in Manhattan, Brooklyn (NY) and New Jersey. We strive to provide professional legal services for individuals and various business entities. Our clientele ranges from including aspiring entrepreneurs, start ups to established business organizations.
We offer flat fee prices for many of the practice areas provided listed throughout our website. For more information on the topic you may be interested, or simply to find out how our law firm can help, you may click at any of our site's links.
We are available for existing and potentially new clients 7 days a week -- via online, phone and/or in person.
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