New Foreclosure Law in New York –– Effective April 2010 –– Will Lead to Tenants Being Abandoned

In New York, blight fright is turning lenders into landlords with unintended consequences for neighborhoods. RPAPL 1307 , Duty to maintain foreclosed property , effective April 14, 2010, changes fundamental property rights as we know them in New York. When, on December 15, 2009, New York's...

Deduct or Capitalize? New Definition for Property Expenditures

Temporary Regulations , effective January 1, 2012, provide guidance on IRC Sections 162 and 263(a) , address when amounts paid to acquire, produce, or improve tangible property are deductible or capitalizable. The Regulations modify the "general plan of rehabilitation" doctrine, define...