Spring 2014Issue 22
Prestige Title Agency, Inc.

Prestige Title eNews

Spring 2014

RCandRP

Amended Not for Profit Corporation Laws May Ease Real Estate Transactions
 

Within the last few years New York City has seen a steady rise of sales of real property holdings by not-for-profit entities, looking to relieve their financial woes. This trend is sure to continue with greater vigor on July 1, 2014, which marks the effective date of the legislative changes implemented under The Non Profit Revitalization Act of 2013. The Act, which was signed into law on December 18, 2013, is intended to not only make New York more business friendly for existing not-for-profit entities, but also to encourage the new not-for-profit entities to operate in the State. The Act reworks New York's not-for-profit statutes, affecting forms of incorporation, conflict of interest policy, whistle blower procedures and regulation of related party transactions, to name a few. This article will focus on the Act's impact on real estate transactions, specifically matters affecting incorporation and the authorization to dispose of a not-for-profit corporation's assets.

  
 
    
 


  

 

If you have any questions or would like further information regarding any of the articles in this newsletter, please contact Keith Eng, Esq. (keng@prestitle.com) or Anthony Chiellino (achiellino@prestitle.com) at (212) 651-1200. 
 
 
Also, if there are any topics that you would like us to include in future newsletters, please feel free to e-mail us with suggestions at info@prestitle.com
In This Issue
Announcements
We've moved.... our office is now located at 55 West 39th Street, 9th Floor, NY 10018.
  
Note that our telephone, facsimile and e-mail information remains the same.
  
* * * *
Did you know that Prestige Title handles Commercial transactions nationwide?

  * * * *
Did you know that Prestige Research provides Coop Lien Searches at the low cost of $275?
   
Please contact Anthony Chiellino for further details at (212) 651-1200 or achiellino@prestitle.com.
Quick Links
Join our Mailing List!

AddlAdditional Items of Interest

 

Fewer Estates Liable for New York State Tax under Amended Law - Click Here

 

 

Navigating the New TILA-RESPA rules - Click Here

 

 
If you have any questions or would like further information regarding any of the articles in this newsletter, please contact Keith Eng, Esq. (keng@prestitle.com) or Anthony Chiellino (achiellino@prestitle.com) at (212) 651-1200. 
 
Also, if there are any topics that you would like us to include in future newsletters, please feel free to e-mail us with suggestions at info@prestitle.com. 
 
 * * * *

 
Prestige Title Agency, Inc. provides Commercial and Residential Title Services Nationwide. For more information, please contact Anthony Chiellino at (212) 651-1200 or achiellino@prestitle.com
  
  
55 W. 39th St. 9th Fl. New York, NY 10018 Tel (212) 651-1200 Fax (212) 651-1201
Member of New York State Land Title Association Member of American Land Title Association