Title Matters

Elliot Schon, Esq.

Why Go Shopping, When You Can Buy The Whole Mall?

When a borrower defaults on a loan there are several options available to the lender to recoup their loan. How the lender chooses to proceed can have implications in regard to the title of the property.
May 08, 2017

A Tank Full of Trouble

In the winter of 2015, Ivan Braxton* was looking into purchasing a property located in NYC that was on the market for a little more than $11,000,000. The building was a pre-war, walk-up with 24 units and had an old oil heating system. The current owner was a notorious skinflint and had a history of running apartments into the ground.
June 09, 2016

Now You (LL)C Me, Now You Don't

When a Corp. or LLC is the seller of a property, the privacy it offers obscures the identity of the owners. Therefore, the title company needs to ascertain who the entity's actual shareholders or members are.
At Riverside, our highly skilled staff are trained to see beyond the paper and to be alert for red flags that may indicate fraud. There are instances where the operating agreement seems off or is presented by a law firm or individual that we are not familiar with. In that case, we will take a deeper dive into the identity of the LLC.
May 12, 2016

Don't Slip Up on ECB Violations

The scariest thing about environmental issues in the city is not the sticky black gum spots on the sidewalk, the subway stalagmites or the pizza eating rats. At least for real estate investors the scariest thing is the NYC violations that are issued by a whole gamut of NYC agencies.
April 14, 2016

The Long Island Dupe

There are many reasons why a buyer should purchase title insurance when they purchase real property. Besides for the myriad benefits and security that the title search process provides, ultimately the main reason for title insurance is to protect the purchaser in the case of a claim made against your newly purchased property
March 11, 2016

Only Two Things Are Certain, Death and Taxes... (and Water)

A water bill, tax feud and a some crafty diplomats! Read how a runaway tenant washed this owners cash down the drain!
March 03, 2016

The Longest Divorce

Gabriel and Crisitina were married for 20 years, living the life, jetting between their homes on both sides of the Atlantic.
It was all perfect, except for one thing: He had secretly divorced her just months after their wedding, in an apparent attempt to shield his assets.
Concurrent estates, divorce chicanery, and deeds all add up to a mind-boggling story.
January 26, 2016

Mentally Ill Man Steals a Baseball Stadium

File this one under crazy but true. In San Diego, a mentally ill man, Derris Devon McQuaig, took ownership of the Padres stadium Petco Park.
December 30, 2015

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