John V. Terrana and Gabriella E. Botticelli's article, "RP-5217 Transfer Report Can Affect Future Real Estate Taxes," was published in the September 17, 2019 New York Real Estate Journal (Front Section). John is a Partner and chairs FDT's Tax Certiorari practice group. Gabriella is an Associate in the firm's Tax Certiorari practice group.
My post listing the top 5 misconceptions about environmental law received positive feedback, so I am continuing it in this post, listing misconceptions 6 through 10. The top 5 were statements that many transactional attorneys believe, but are false. Misconceptions 6-10, on the other hand, are sometimes true. 6. The investigation found contamination, so we must report it to the State. That statement is sometimes…
All real estate lawyers are familiar with the RP-5217 Form. You know the one; that mandatory transfer report that must be filed before a conveyance of real property can be recorded, which lists the property information, the sale price, circumstances of the sale and identifies the buyer. Nevertheless, many might be surprised to learn that the RP-5217, a seemingly straightforward formality, can have adverse consequences…
Aaron Gershonowitz's article, "Does an ASTM Phase I Protect Banks?," was published in the Summer 2019 Real Estate Finance Journal. Reprinted with permission from the Real Estate Finance Journal.
The New York Real Estate Journal reported that Forchelli Deegan Terrana LLP ("FDT") was ranked a top construction law firm by Construction Executive magazine. Click here to read the firm's press release, which was published on page 13C of the August 6-19, 2019 paper's Long Island section. Reprinted with permission from the New York Real Estate Journal.
Forchelli Deegan Terrana LLP was featured in the New York Real Estate Journal's special 30th Anniversary edition. Click here to read the firm's advertorial, which was published on Tuesday, July 30, 2019. Reprinted with permission from the New York Real Estate Journal.
The 9th Circuit Court of Appeals decision in Center for Biological Diversity v US Forest Service, 2019 WL 2293425 (May 30, 2019) raises important questions about the extent to which someone might be held liable for failing to prevent someone else from causing environmental harm. The Center for Biological Diversity alleged that the Forest Service violated the Resource Conservation and Recovery Act (also known as…
"Section 253-b of the New York State Tax Law is relied upon by many commercial lenders and their counsel as a safe haven exempting re-advances from the payment of additional mortgage tax under commercial credit line mortgages made for a face amount of less than $3 million. That reliance is often misplaced as the benefits under Section 253-b of the tax law are actually very…
"In January 2019, Nassau County completed the first county-wide reassessment in eight years,” Terrana said. “Since then, I have been reviewing assessments, estimating taxes based on the new assessment and challenging same for existing, and many new, clients,” he said. “Laura Curran recently appointed me co-chair of the Nassau County Assessment Review Commission’s (ARC) 6-40 Review Committee, which will make recommendations to update and streamline…
Jane Chen, an associate in the firm's Corporate & Commercial and Real Estate practice groups, was recognized at the Huntington Chamber's 'Celebrate Long Island's Young Professionals' event. A reception was held at Crest Hollow Country Club on May 7, 2019. Click here to read the story, which was published on page 15A of the June 4, 2019 paper. Reprinted with permission from the New York…