The Three Wise Monkeys and New York Politicians: See no evil, hear no evil, speak no evil! Summary: The potential migration away from New York by Goldman Sachs Asset Management is yet another example of tax-unfriendly states losing businesses to tax-friendly states like Florida! (Note: For those wondering, the following migration situation out of NYS […]
Title Insurance Companies Have Been Mandated by an Amendment to a New York State Law, to Determine the Actual LLC Owners in ANY Residential Real Estate Transaction For Both the Buyer and the Seller, Regardless of Price or Locality! Residential real estate: One to Four Family Dwelling Summary (Courtesy of NYSLTA): New Law Requires Full Disclosure […]
July 1st the New York State Department of Taxation and Finance will be imposing an increase in the state real estate transfer tax and mansion tax in New York City! The NYS transfer tax increase will affect residential property sales above $3MM and all other property types sales above $2MM. the increase will be $2.50 per […]
On February 1, Governor Cuomo signed a bill (A374 / S979) that reset the expiration date of a portion of the IDA mortgage tax exemption to June 30, 2017. As you may recall, the bill removing a portion of the mortgage tax exemption initially went into effect for mortgages recorded on and after September 30, […]
2014 was a year that witnessed significant changes in the way that title insurance agents in New York State would be monitored and, for the first time, licensed by the NYS Department of Financial Services (DFS)! It also was a year in which title insurance agents needed to prove that they were in compliance with the Seven Pillars of Best Practices established by the American […]
While there are many functions that a title agency might offer to an attorney acting on behalf of a client or to a client directly, the primary function is generally going to be issuing a title insurance policy for a property that will ensure the owner good, clean and clear ownership! In other words that no […]
New York State is #1 in the nation for income tax collections per capita! Every US state would like to be known as the #1 best state for a variety of categories including such things as tourism and quality of life. But New York State has the ‘honor’ of being #1 in a category that no other […]
And these are some of the reasons why! Hallmark Abstract was founded on these fundamental principles: One is to provide service above and beyond the expectations of our clients, while the other is to ensure that there will never be any surprises at the closing table. With that in mind, two basic questions guide us […]
